Using hand-collected data on purchases of D&O insurance by Chinese listed firms for the period from 2008 to 2019, we empirically find that D&O insurance negatively associates with credit spreads. The negative relationship still holds after conducting a series of robustness tests and is not...

This study investigates whether and how the perception of carbon abatement pressure affects corporate financing behavior. The results show that carbon abatement pressure increases corporate cash holdings via the channel of financing constraints, and this positive relationship still holds after a...