This paper examines whether and how institutional investment horizon influences corporate financing decisions. Consistent with our predictions, we find that longer institutional investment horizon is negatively associated with the likelihood that a firm issues equity and debt, and with the...

The U.S. equity market has witnessed the rising power of institutional investors over the past three decades. Yet, even as these institutional owners become more powerful their effect on corporate social responsibility (CSR) still remains unclear. The present study attempts to fill this gap by...