Journal of Corporate Finance

1994 - 2025

Current editor(s): A. Poulsen and J. Netter

From Elsevier
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Volume 91, issue C, 2025

Beyond Russell reconstitution: A re-examination of methodologies for natural experiments

Wei Wei and Alex Young

State ownership and financial reporting quality: Evidence from natural advantage industries

Narjess Boubakri, Art Durnev and Igor Oliveira dos Santos

CEOs' narcissism and opportunistic insider trading

Cheng Jiang, Kose John, J.H. John Kim and Jingyu Zhang

Polarized corporate boards

Thao Hoang, Phong T.H. Ngo and Le Zhang

Fading virtue, flourishing profits: Corporate social responsibility in the presence of competitor constraints

Xiaoqiong Wang and Xiaoyang Zhu

Economic magnitudes within reason

Zack Liu and Adam Winegar

Rating on a behavioral curve

Utpal Bhattacharya, Janghoon Shon and Yu Zhang

Corporate tax cuts for small firms: What do firms do?

Wei Cui, Mengying Wei, Weisi Xie and Jing Xing

Equity offering following cyberattacks

Xiaohui Liu, Juan Luo and Alfred Yawson

Environmental enforcement actions and corporate green innovation

Qiyang He and Buhui Qiu

Economics of Ethereum

Kose John, Barnabé Monnot, Peter Mueller, Fahad Saleh and Caspar Schwarz-Schilling

U.S. multinationals' alternatives to paying taxes

Jeremiah Harris and William O'Brien

Iron curtain echoes: The enduring impact of communism and crowdfunding

Thien Le-Hoang Nguyen and Hui-Ching Hsieh

Personal financial incentives, corporate governance, and firms’ campaign contributions

Viktar Fedaseyeu and Lev Lvovskiy

Discontinuing analyst coverage due to resource reallocation: Euphemism for unfavorable firm outlook?

Andreas Charitou, Irene Karamanou and Anastasia Kopita

Does managerial compensation impact the likelihood of product market failures? Evidence from inside debt holdings

Vincent J. Intintoli and Shweta Srinivasan

Executive compensation and secured debt: Evidence from REITs

Ying Li, Lingxiao Li and Bing Zhu

Beta estimation precision and corporate investment efficiency

Lee Biggerstaff, Brad Goldie and Haimanot Kassa

Explaining the involvement and investment of women in business angel groups: The impact of organizational context and investment experience

Laurence Cohen, Cristiano Bellavitis and Peter Wirtz

Understanding stock price behavior around external financing

Min Cao, J. Spencer Martin and Yaqiong Yao

Zombie lending due to the fear of fire sales

Kaushalendra Kishore, Nirupama Kulkarni and Saurabh Roy

Corporate ownership and ESG performance

Belén Villalonga, Peter Tufano and Boya Wang

Do “say-on-pay” votes affect M&A decisions?

Shantanu Dutta, Micah S. Officer, Ruixiang Wang and Pengcheng Zhu

A review of DAO governance: Recent literature and emerging trends

Jungsuk Han, Jongsub Lee and Tao Li

Adoption of central bank digital currencies: Initial evidence from China

HaiChen Bai, Lin William Cong, Mei Luo and Ping Xie

Does stakeholder orientation mitigate shareholder-employee conflicts? Evidence from a quasi-natural experiment

Douglas Cumming, Fanyu Lu, Limin Xu and Yu, Chia-Feng (Jeffrey)

The economics of Constant Function Market Makers

Michele Fabi and Julien Prat

Risk-taking incentives and firm credit risk11The authors thank Kristine W. Hankins (editor), the anonymous associate editor and two anonymous reviewers, workshop participants at Lehigh University, Northwestern University, Southern Methodist University, and the University of Florida; conference participants at the Temple University Accounting 100th Anniversary Conference and the Hawaii Accounting Research Conference; Ray Ball, Sam Bonsall, Brian Cadman, Rachel Hayes, Marcus Kirk, Zawadi Lemayian, Karl Muller, Gans Narayanamoorthy, Matthew Ringgenberg, David Sovich, and Liz Tashjian, and Wei Wang (discussant) for helpful comments. We thank Catherine Blowe and Tian (Terri) Xu for research assistance, and Kai Chen for sharing his executive compensation code. Koharki thanks the Krannert School of Management, and Watson thanks the Villanova School of Business for financial support. All errors are our own. ©2016–2025 Kevin Koharki and Luke Watson

Kevin Koharki and Luke Watson

Environmental liabilities, borrowing costs, and pollution prevention activities: The nationwide impact of the Apex Oil ruling

Jianqiang Chen, Pei-Fang Hsieh, Po-Hsuan Hsu and Ross Levine

Foundation ownership and sustainability

David Schröder and Steen Thomsen

Does commercial reform embracing digital technologies mitigate stock price crash risk?

Guanming He, Zhichao Li, Ling Yu and Zhanqiang Zhou

Dark trading volume and market quality: A natural experiment

Ryan Farley, Eric K. Kelley and Andy Puckett

Clawback adoptions and institutional investment decisions

Kwok Tong Samuel Cheung, Simon Yu Kit Fung, K.K. Raman and Jianfu Shen

Political corruption, Dodd–Frank whistleblowing, and debt financing

Qingjie Du, Iftekhar Hasan, Yang Wang and K.C. John Wei

The stock market reaction to bond refinancing issues with and without senior debt

Axel Grossmann and Thanh Ngo

How does the structure of an interest expense cap change the tax benefits of debt?

Karan Bhanot, Pascal François and Palani-Rajan Kadapakkam

Real options and CEO social connections: The role of financial flexibility

Md Nazmul Hasan Bhuyan, Luis García-Feijóo and Tijana Rajkovic

Surviving the storm: Evaluating the role of enterprise risk management in property and liability insurers' performance during the COVID-19 pandemic

Derrick W.H. Fung, Wing Yan Lee and Charles C. Yang

Volume 89, issue C, 2024

The performance of private equity portfolio companies during the COVID-19 pandemic

Paul Lavery and Nick Wilson

Shadow union in local labor markets and corporate financing policies

DuckKi Cho and Lyungmae Choi

Pre-IPO hype by affiliated analysts: Motives and consequences

Yiming Qian, Xinjian Shao and Jingchi Liao

Venture capitalist directors and managerial incentives

Lubomir P. Litov, Xia Liu, William L. Megginson and Romora E. Sitorus

Do buy-side analysts in earnings conference calls manipulate stock prices?

Gang Hu, Michael J. Jung, M.H. Franco Wong, Danlei Bonnie Yu and X. Frank Zhang

The value impact of climate and non-climate environmental shareholder proposals

Henk Berkman, Jonathan Jona, Joshua Lodge and Joshua Shemesh

Corruption and insider trading

Kyriacos Kyriacou, Siming Liu and Bryan Mase

Insider pledging: Its information content and forced sale

Hung-Kun Chen and Shing-yang Hu

Majority-of-the-minority shareholder votes and investment efficiency

Ning Cao, Paul B. McGuinness and Chao Xi

Does the mandatory disclosure of suppliers' tax uncertainties affect supply chain relations?

Xuedan Tao, Huabing Barbara Wang, Qian Xin and You Xu

Digitalization and the performance of non-technological firms: Evidence from the COVID-19 and natural disaster shocks

José-Miguel Gaspar, Sumingyue Wang and Liang Xu

Institutional dual ownership and voluntary greenhouse gas emission disclosure

Johannes A. Barg, Wolfgang Drobetz, Sadok El Ghoul, Omrane Guedhami and Henning Schröder

Family firms and carbon emissions

Marcin Borsuk, Nicolas Eugster, Paul-Olivier Klein and Oskar Kowalewski

Does tax reform affect labor investment efficiency?

Steven E. Kaplan and Eugie Y. Lee

The real effects of distressed bank mergers

Valeriya Dinger, Christian Schmidt and Erik Theissen

Corporate social responsibility and external disruptions

Po-Hsuan Hsu, Hsiao-Hui Lee and Long Yi

Impact of internal governance on investment policy: Evidence from CEO voluntary turnovers

Ivan E. Brick, Darius Palia and Yankuo Qiao

Supply chain vertical common ownership and cost of loans

Haowen Tian, Junkai Wang and Sirui Wu

The effect of bond ownership structure on ESG performance

Hye Seung Lee, Jesus M. Salas, Ke Shen and Ke Yang

Compensation peer effects of corporate social responsibility

Yuyuan Chang, Nicolai J. Foss, Shuping Li and Jing Xie

The gender gap in executive promotions

Jing Xu

Does relaxing household credit constraints hurt small business lending? Evidence from a policy change in Texas

Berrak Bahadir, Inci Gumus and Matthew Schaffer

Optimal financing of highly innovative projects under double moral hazard

Gino Loyola and Yolanda Portilla

Private equity buyouts & firm exporting in crisis periods: Exploring a new channel

Paul Lavery, Marina-Eliza Spaliara and Holger Görg

Does litigation risk matter for the choice between bank debt and public debt?

H. Kent Baker, Hatem Rjiba, Samir Saadi and Syrine Sassi

Reserves regulation and the risk-taking channel

Manthos Delis, Sotirios Kokas and Alexandros Kontonikas

Sibling co-management and cost of capital: Evidence from Chinese listed family firms

Nianhang Xu, Danwen Song, Rongrong Xie and Kam C. Chan

Anti-collusion leniency legislations and IPO activity: Worldwide evidence

Huu Nhan Duong, Abhinav Goyal and Leon Zolotoy

Long-term institutional investors and climate change news Beta

Ashrafee Hossain, Abdullah-Al Masum and Ramzi Benkraiem

The real impacts of third-party certification on green bond issuances: Evidence from the Chinese green bond market

Qing Yu, Eddie Chi-Man Hui and Jianfu Shen