Journal of Corporate Finance

1994 - 2025

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

From Elsevier
Bibliographic data for series maintained by Catherine Liu ().

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Volume 93, issue C, 2025

Drawing up the bill: Are ESG ratings related to stock returns around the world?

Rómulo Alves, Philipp Krüger and Mathijs van Dijk

News-driven peer co-movement in crypto markets

G. Schwenkler and H. Zheng

Editorial: Ownership and corporate social and sustainable policies

Morten Bennedsen, Joseph Fan and Stuart Gillan

The impact of product market competition on workplace safety

Emdad Islam, Blake Loriot and Lubna Rahman

Customer orientation and stock resilience during adversity periods

Panayiotis C. Andreou, Neophytos Lambertides, Lenos Trigeorgis and Ruslan Tuneshev

Firms save from bonds but not from loans

Paolo Colla and Florian Nagler

State ownership and corporate leverage around the world

Ralph De Haas, Sergei Guriev and Alexander Stepanov

Misconduct in the SPAC market: Evidence from venture capital exits

Alexander Peter Groh, Juliane Proelss, Aurélie Sannajust and Denis Schweizer

Betting on my enemy: Insider trading ahead of hedge fund 13D filings

Truong Duong, Shaoting Pi and Travis R.A. Sapp

Trade shocks and investment efficiency

Wenjing Li, Yuanhuai Peng, Hanwen Sun and Youchao Tan

Geopolitical risk and corporate capital structure

Md Shahedur R. Chowdhury, Mohsen Aram, Siamak Javadi and Ali Nejadmalayeri

Registration system reform, information environment, and market manipulation

Yangfa Chen, Ji Jiang, Jie Liu, Xiao Liu and Weili Wu

Impact from a distance: Emotionally attached-place disasters and corporate risk-taking

Xing Chen, Huang, Zhijian (James), Zhuo Li and Fenghua Wen

The Long-term effect of social disasters on stock market participation

Yang Cai, Shuo Chen and Dongxu Li

Soft going-concern capital buffer? CoCo non-calls and revealed bank distress

Kaihua Deng, Qilong Fu and Dongxia Huang

Intercity mentioning: Stock posts, city network, and firms

Dayong Dong, Danling Jiang, Yuelin Peng, Longmin Shen and Hongquan Zhu

Stayin' alive: Debt complexity as a bankruptcy-delaying mechanism

Jens Forssbæck, Håkan Jankensgård and Reda Moursli

Corporate taxes and entrepreneurs' income: A credit channel

Manthos D. Delis, Emilios Galariotis, Maria Iosifidi and Steven Ongena

Executive incentives under common ownership

Thomas Schneider

Islamic bonds ratings and the price of risk

Shee-Yee Khoo and Paul-Olivier Klein

Collective empathy could leap through time: War heritage and corporate green innovation

Huixiang Zeng, Wenjia Lu, Jian Zhou, Dongmin Kong, Xu Cheng and Luqi Huang

Imbalanced ESG investing?

Maria-Eleni Agoraki, Georgios Kouretas, Haoran Wu and Binru Zhao

Volume 92, issue C, 2025

The impact of automation on firms' reporting quality

David Oesch and Tanja Walser

Risk, return, and environmental and social ratings

Sudheer Chava, Kim, Jeong Ho (John) and Jaemin Lee

Carbon home bias of European investors

Martijn Boermans and Rients Galema

Tacit collusion among dominant banks: Evidence from round-yard loan pricing

Yu-Ju Chan, Chih-Yung Lin and Tse-Chun Lin

Major customers and carbon footprints along the supply chain

Saiying Deng, Tinghua Duan, Frank Weikai Li and Xiaoling Pu

Foreign ownership and board cultural diversity

Oussama El Moujahid, Bart Frijns, S. Abraham Ravid and Naciye Sekerci

Dispersed ownership and asset pricing: An unpriced premium associated with free float

Bruce Hearn, Igor Filatotchev and Marc Goergen

The information advantage of industry common owners and its spillover effect on stock price crash risk

Qingyuan Li, Xiaoran Ni, P. Eric Yeung and David Yin

Do hedge funds still manipulate stock prices?

Xinyu Cui and Olga Kolokolova

Corporate shutdowns in the time of Covid-19

Shradha Bindal, Kissan Joseph and Felix Meschke

Green banking illusion? The influence of “Eco-Conscious” bank shareholders on credit allocation

Adrian Böhm, Christian Eufinger, Igor Kadach and Yuki Sakasai

Anti-corruption and corporate investment: Evidence from financial disclosure laws

Wendi Huang and Ye Peng

Predation by stock price manipulation

Rafael Matta, Sergio H. Rocha and Paulo Vaz

Government contracts and labor investment efficiency

Pedro Monteiro and Masim Suleymanov

Capitalization of operating leases and the cost of bank loans

Joanna Golden and Xiaotao Kelvin Liu

Happily ever after? Lender diversification and performance sensitivity in post-IPO loans

Luca X. Lin and Xiaoyu Zhang

Seeking blessings by doing good: Top executive superstitions and corporate philanthropy

Xianjun Cai, Lin Liao, Yukun Pan and Kun Wang

Divided we fall: Congressional cycles, the stock market and firm performance

Joshua Livnat, Amir Rubin and Dan Segal

Financial distress and return: A finite mixture approach

Zhuo Cheng and Jing Fang

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