Corporate financial fragility preceding the Asian financial crisis heightened vulnerabilities. Many countries in the region undertook significant corporate financial restructuring after the crisis, with some countries bouncing back much faster than others. These sounder corporate financial...

This paper uses a unique dataset to study how firms managed liquidity during the 2008-09 financial crisis. Our analysis provides new insights on interactions between internal liquidity, external funds, and real corporate decisions, such as investment and employment. We first describe how...

Using a sample of firms from 8 East Asian countries, we document the corporate policy (cash holding, investment, financing, and payout) response to the Asian Financial Crisis of 1997-1998. Following the crisis, we find significant evidence of a build-up of cash holdings, a fall in capital...

This study tries to extend previous works on behavioral corporate finance by examining the interaction between investment cash flow sensitivity and various CEO characteristics in either the existence or inexistence of managerial optimism. Using a Q-investment model and departing from a sample of...

Risk disclosure is one of the practices of corporate governance. Disclosure of risk is an important aspect of a company's financial reporting since it provides information on how various risks can occur, the company's response to these risks, and the impact these risks have on the company's...

This research aims to confirm the reliability of agency theory as an approach to explaining the impact of CEO narcissism, corporate governance as represented by boards of size and female directors, financial distress, and company size on corporate tax avoidance. In this quantitative study,...