International Journal of Managerial Finance: Volume 20 Issue 4

Effects of time-varying political connections on loan contracts

Hao Fang, Chieh-Hsuan Wang, Joseph C.P. Shieh, Chien-Ping Chung

The authors construct two time-varying political connection (PC) indexes to measure a firm's political tendencies toward ruling and opposing parties and analyze whether a firm…

The impact of economic policy uncertainty on sustainability (ESG) performance: the role of the firm life cycle

Muhammad Azeem Qureshi, Tanveer Ahsan, Ammar Ali Gull, Zaghum Umar

This study investigates the impact of economic policy uncertainty (EPU) on corporate sustainability [environmental, social and governance (ESG)] performance and aims to explore…

The more, the merrier? The role of an auditor's certification in loan pricing

Bolortuya Enkhtaivan, Zagdbazar Davaadorj

The purpose of this paper is to explore the role of three different audit characteristics in loan pricing—the most significant credit term for borrowers. Three characteristics…

Oil price uncertainty and corporate inventory investment

Amanjot Singh

This study examines the relationship between oil price uncertainty (OPU) and corporate inventory investments using a sample of 6,072 USA manufacturing firms from 1992 to 2019.

The real implications of mimicking peer firms' cash holdings

Marvelous Kadzima, Michael Machokoto, Edward Chamisa

This study empirically examines the nonlinear effects of mimicking peer firms' cash holdings on shareholder value, with consideration of macroeconomic conditions.

International evidence on the monitoring role of foreign institutional investors in corporate investment efficiency

Muhammad Ilyas, Rehman Uddin Mian, Affan Mian

This study examines whether and how the legal origin of foreign institutional investors (FIIs) impacts corporate investment efficiency.

Investing in a leveraged world

Keunbae Ahn, Gerhard Hambusch, Kihoon Hong, Marco Navone

Throughout the 21st century, US households have experienced unprecedented levels of leverage. This dynamic has been exacerbated by income shortfalls during the COVID-19 crisis…

Institutional ownership stability and product quality failures

Thanh Dat Le, Nguyen Nguyen

This study examines the effect of stable institutional investors on firms' product quality failures. Furthermore, the authors investigate the channels through which institutional…

The US government customer concentration and the firm innovation

HyunJun Na

This study examines the impact of the US government customer concentration and product innovation in supplier firms. The US government customer concentration is defined as the…

Debt overhang and carbon emissions

Md Safiullah, Muhammad Nurul Houqe, Muhammad Jahangir Ali, Md Saiful Azam

This study investigates the association between debt overhang and carbon emissions (both direct and indirect emissions) using a sample of US publicly listed firms.

Labor unions, pay disparity and financial statement comparability

Eun Hye Jo, Jung Wha Lee

This study examines how the presence of labor unions affects a firm’s pay disparity between executives and employees and its financial statement comparability.