Suboptimal investment either in terms of overinvestment or underinvestment is a value-destroying activity. This study examines the role of foreign institutional ownership, on Investment decisions and speed of adjustment to target investment. Based on a US sample of 11,690 firm - year...

This study identifies and empirically assesses the relationship between ESG reputational risk and corporate payouts. We provide robust evidence that ESG reputational risk stimulates higher payouts and that the presence of strong (weak) monitoring mechanisms amplifies (attenuates) this...

We examine the impact of trademarks (TMs) on the initial public offering (IPO) valuation process of firms, their future performance, and capital market resilience. We find that TMs play an ambivalent role in under-pricing, depending on their quality. The existence of TMs tends to increase...

In this study we explore the link between climate risk and corporate dividend smoothing using a large international sample of listed firms between 2005-2019. We document a negative economically significant relationship which amplifies in the presence of high growth opportunities and low...