- Acharya, V.V.; Steffen, S. The risk of being a fallen angel and the corporate dash for cash amid COVID-19. Rev. Corp. Financ. Stud. 2020, 9, 430–471. [CrossRef]
Paper not yet in RePEc: Add citation now
- Albuquerque, R.; Koskinen, Y.; Yang, S.; Zhang, C. Resiliency of environmental and social stocks: An analysis of the exogenous COVID-19 market crash. Rev. Corp. Financ. Stud. 2020, 9, 593–621. [CrossRef]
Paper not yet in RePEc: Add citation now
Anderson, R.C.; Mansi, S.A.; Reeb, D.M. Founding family ownership and the agency cost of debt. J. Financ. Econ. 2003, 68, 263–285. [CrossRef]
Arellano, M.; Bover, O. Another look at the instrumental variable estimation of error-components models. J. Econom. 1995, 68, 29–51. [CrossRef]
Bae, K.H.; El Ghoul, S.; Guedhami, O.; Kwok, C.C.; Zheng, Y. Does corporate social responsibility reduce the costs of high leverage? Evidence from capital structure and product market interactions. J. Bank. Financ. 2019, 100, 135–150. [CrossRef]
- Baker, S.R.; Bloom, N.; Davis, S.J.; Kost, K.; Sammon, M.; Viratyosin, T. The unprecedented stock market reaction to COVID-19. Rev. Asset Pricing Stud. 2020, 10, 742–758. [CrossRef]
Paper not yet in RePEc: Add citation now
- Bassen, A.; Meyer, K.; Hölz, H.M.; Zamostny, A.; Schlange, J. The influence of corporate responsibility on the cost of capital. SSRN Electron. J. 2006. [CrossRef]
Paper not yet in RePEc: Add citation now
- Becchetti, L.; Ciciretti, R.; Hasan, I. Corporate social responsibility, stakeholder risk, and idiosyncratic volatility. J. Corp. Financ. 2015, 35, 297–309. [CrossRef]
Paper not yet in RePEc: Add citation now
Benlemlih, M.; Shaukat, A.; Qiu, Y.; Trojanowski, G. Environmental and social disclosures and firm risk. J. Bus. Ethics 2018, 152, 613–626. [CrossRef]
Blundell, R.; Bond, S. Initial conditions and moment restrictions in dynamic panel data models. J. Econom. 1998, 87, 115–143. [CrossRef]
- Boubaker, S.; Cellier, A.; Manita, R.; Saeed, A. Does corporate social responsibility reduce financial distress risk? Econ. Model. 2020, 91, 835–851. [CrossRef]
Paper not yet in RePEc: Add citation now
- Bretscher, L.; Hsu, A.; Simasek, P.; Tamoni, A. COVID-19 and the cross-section of equity returns: Impact and transmission. Rev. Asset Pricing Stud. 2020, 10, 705–741. [CrossRef]
Paper not yet in RePEc: Add citation now
Broadstock, D.C.; Chan, K.; Cheng, L.T.; Wang, X. The role of ESG performance during times of financial crisis: Evidence from COVID-19 in China. Financ. Res. Lett. 2021, 38, 101716. [CrossRef] [PubMed]
- Cheng, B.; Ioannou, I.; Serafeim, G. Corporate social responsibility and access to finance. Strateg. Manag. J. 2014, 35, 1–23. [CrossRef]
Paper not yet in RePEc: Add citation now
- Cochran, P.L.; Wood, R.A. Corporate social responsibility and financial performance. Acad. Manag. J. 1984, 27, 42–56. [CrossRef]
Paper not yet in RePEc: Add citation now
Cornett, M.M.; Erhemjamts, O.; Tehranian, H. Greed or good deeds: An examination of the relation between corporate social responsibility and the financial performance of US commercial banks around the financial crisis. J. Bank. Financ. 2016, 70, 137–159. [CrossRef]
Demirgüç-Kunt, A.; Peria, M.S.M.; Tressel, T. The global financial crisis and the capital structure of firms: Was the impact more severe among SMEs and non-listed firms? J. Corp. Financ. 2020, 60, 101514. [CrossRef]
- Dhaliwal, D.S.; Li, O.Z.; Tsang, A.; Yang, Y.G. Voluntary nonfinancial disclosure and the cost of equity capital: The initiation of corporate social responsibility reporting. Account. Rev. 2011, 86, 59–100. [CrossRef]
Paper not yet in RePEc: Add citation now
- Ding, W.; Levine, R.; Lin, C.; Xie, W. Corporate immunity to the COVID-19 pandemic. J. Financ. Econ. 2021, 141, 802–830. [CrossRef]
Paper not yet in RePEc: Add citation now
- Duchin, R.; Harford, J. The Covid-19 Crisis and the Allocation of Capital. J. Financ. Quant. Anal. 2021, 56, 2309–2319. [CrossRef]
Paper not yet in RePEc: Add citation now
- Duval, R.; Hong, G.H.; Timmer, Y. Financial frictions and the great productivity slowdown. Rev. Financ. Stud. 2020, 33, 475–503. [CrossRef]
Paper not yet in RePEc: Add citation now
- Ebeke MC, H.; Jovanovic, N.; Valderrama, M.L.; Zhou, J. Corporate Liquidity and Solvency in Europe during COVID-19: The Role of Policies; International Monetary Fund: Washington, DC, USA, 2021.
Paper not yet in RePEc: Add citation now
Fahlenbrach, R.; Rageth, K.; Stulz, R.M. How valuable is financial flexibility when revenue stops? Evidence from the COVID-19 crisis. Rev. Financ. Stud. 2021, 34, 5474–5521. [CrossRef] Sustainability 2024, 16, 5469 24 of 25
Ghosh, D.; Olsen, L. Environmental uncertainty and managers’ use of discretionary accruals. Account. Organ. Soc. 2009, 34, 188–205. [CrossRef]
- Godfrey, P.C. The relationship between corporate philanthropy and shareholder wealth: A risk management perspective. Acad. Manag. Rev. 2005, 30, 777–798. [CrossRef]
Paper not yet in RePEc: Add citation now
Godfrey, P.C.; Merrill, C.B.; Hansen, J.M. The relationship between corporate social responsibility and shareholder value: An empirical test of the risk management hypothesis. Strateg. Manag. J. 2009, 30, 425–445. [CrossRef]
- Goodell, J.W. COVID-19 and finance: Agendas for future research. Financ. Res. Lett. 2020, 35, 101512. [CrossRef] [PubMed]
Paper not yet in RePEc: Add citation now
Goss, A.; Roberts, G.S. The impact of corporate social responsibility on the cost of bank loans. J. Bank. Financ. 2011, 35, 1794–1810. [CrossRef]
- Gujarati, D.N.; Porter, D.C. (Eds.) Basic Econometrics; McGrew Hill Book Co.: Singapore, 2003.
Paper not yet in RePEc: Add citation now
- Haddad, V.; Moreira, A.; Muir, T. When selling becomes viral: Disruptions in debt markets in the COVID-19 crisis and the Fed’s response. Rev. Financ. Stud. 2021, 34, 5309–5351. [CrossRef]
Paper not yet in RePEc: Add citation now
- Halling, M.; Yu, J.; Zechner, J. How did COVID-19 affect firms’ access to public capital markets? Rev. Corp. Financ. Stud. 2020, 9, 501–533. [CrossRef]
Paper not yet in RePEc: Add citation now
- Halling, M.; Yu, J.; Zechner, J. The Dynamics of Corporate Debt Structure; Swedish House of Finance Research Paper; CEPR Press: London, UK, 2022.
Paper not yet in RePEc: Add citation now
Harjoto, M.A.; Rossi, F.; Lee, R.; Sergi, B.S. How do equity markets react to COVID-19? Evidence from emerging and developed countries. J. Econ. Bus. 2021, 115, 105966. [CrossRef]
Hasan, I.; Marra, M.; To, T.Y.; Wu, E.; Zhang, G. COVID-19 pandemic and global corporate CDS spreads. J. Bank. Financ. 2023, 147, 106618. [CrossRef]
- Ho, L.; Bai, M.; Lu, Y.; Qin, Y. The effect of corporate sustainability performance on leverage adjustments. Br. Account. Rev. 2021, 53, 100989. [CrossRef]
Paper not yet in RePEc: Add citation now
- Huang, H.; Ye, Y. Rethinking capital structure decision and corporate social responsibility in response to COVID-19. Account. Financ. 2021, 61, 4757–4788. [CrossRef]
Paper not yet in RePEc: Add citation now
- Huang, Z.; Gao, W.; Chen, L. Does the external environment matter for the persistence of firms’ debt policy? Financ. Res. Lett. 2020, 32, 101073. [CrossRef] Sustainability 2024, 16, 5469 25 of 25
Paper not yet in RePEc: Add citation now
Jensen, M.C. Agency costs of free cash flow, corporate finance, and takeovers. Am. Econ. Rev. 1986, 76, 323–329.
- Jensen, M.C.; Meckling, W.H. Theory of the firm: Managerial behavior, agency costs, and ownership structure. J. Financ. Econ. 1976, 3, 305–360. [CrossRef]
Paper not yet in RePEc: Add citation now
- Kapstein, E.B. The corporate ethics crusade. Foreign Aff. 2001, 80, 105. [CrossRef]
Paper not yet in RePEc: Add citation now
- Kargar, M.; Lester, B.; Lindsay, D.; Liu, S.; Weill, P.O.; Zúñiga, D. Corporate bond liquidity during the COVID-19 crisis. Rev. Financ. Stud. 2021, 34, 5352–5401. [CrossRef]
Paper not yet in RePEc: Add citation now
- Kellard, N.M.; Kontonikas, A.; Lamla, M.; Maiani, S. Deal or no deal? Modelling the impact of Brexit uncertainty on UK private equity activity. Br. J. Manag. 2022, 33, 46–68. [CrossRef]
Paper not yet in RePEc: Add citation now
- Kopecky, K.J.; Li, Z.; Sugrue, T.F.; Tucker, A.L. Revisiting M&M with taxes: An alternative equilibrating process. Int. J. Financ. Stud. 2018, 6, 10. [CrossRef]
Paper not yet in RePEc: Add citation now
Kraus, A.; Litzenberger, R.H. A state-preference model of optimal financial leverage. J. Financ. 1973, 28, 911–922. [CrossRef]
- Li, K.; Liu, X.; Mai, F.; Zhang, T. The role of corporate culture in inconvenient times: Evidence from the COVID-19 pandemic. J. Financ. Quant. Anal. 2021, 56, 2545–2583. [CrossRef]
Paper not yet in RePEc: Add citation now
- Li, K.; Mai, F.; Shen, R.; Yan, X. Measuring corporate culture using machine learning. Rev. Financ. Stud. 2021, 34, 3265–3315. [CrossRef]
Paper not yet in RePEc: Add citation now
- Li, L.; Strahan, P.E.; Zhang, S. Banks as lenders of first resort: Evidence from the COVID-19 crisis. Rev. Corp. Financ. Stud. 2020, 9, 472–500. [CrossRef]
Paper not yet in RePEc: Add citation now
- Lins, K.V.; Servaes, H.; Tamayo, A. Social capital, trust, and firm performance: The value of corporate social responsibility during the financial crisis. J. Financ. 2017, 72, 1785–1824. [CrossRef]
Paper not yet in RePEc: Add citation now
- Liu, Y.; Qiu, B.; Wang, T. Debt rollover risk, credit default swap spread and stock returns: Evidence from the COVID-19 crisis. J. Financ. Stab. 2021, 53, 100855. [CrossRef]
Paper not yet in RePEc: Add citation now
- Modigliani, F.; Miller, M.H. The cost of capital, corporation finance and the theory of investment. Am. Econ. Rev. 1958, 48, 261–297.
Paper not yet in RePEc: Add citation now
- Myers, S.C. Determinants of corporate borrowing. J. Financ. Econ. 1977, 5, 147–175. [CrossRef]
Paper not yet in RePEc: Add citation now
Myers, S.C.; Majluf, N.S. Corporate financing and investment decisions when firms have information that investors do not have. J. Financ. Econ. 1984, 13, 187–221. [CrossRef]
- O’Hara, M.; Zhou, X.A. Anatomy of a liquidity crisis: Corporate bonds in the COVID-19 crisis. J. Financ. Econ. 2021, 142, 46–68. [CrossRef] [PubMed]
Paper not yet in RePEc: Add citation now
- OECD. Social Economy and the COVID-19 Crisis: Current and Future Roles; OECD Publishing: Paris, France, 2020; Available online: https://www.oecd-ilibrary.org/social-issues-migration-health/social-economy-and-the-covid-19-crisis-current-andfuture -roles_f904b89f-en (accessed on 25 February 2024).
Paper not yet in RePEc: Add citation now
- Office for National Statistics (ONS). Blue Book 2022—Revised Impacts of the Coronavirus (COVID-19) Pandemic on the UK Economy; Office for National Statistics (ONS): London, UK, 2022.
Paper not yet in RePEc: Add citation now
- Pagano, M.; Wagner, C.; Zechner, J. Disaster resilience and asset prices. J. Financ. Econ. 2023, 150, 103712. [CrossRef]
Paper not yet in RePEc: Add citation now
- Pagano, M.; Zechner, J. COVID-19 and corporate finance. Rev. Corp. Financ. Stud. 2022, 11, 849–879. [CrossRef] Disclaimer/Publisher’s Note: The statements, opinions and data contained in all publications are solely those of the individual author(s) and contributor(s) and not of MDPI and/or the editor(s). MDPI and/or the editor(s) disclaim responsibility for any injury to people or property resulting from any ideas, methods, instructions or products referred to in the content.
Paper not yet in RePEc: Add citation now
- Peloza, J. Using corporate social responsibility as insurance for financial performance. Calif. Manag. Rev. 2006, 48, 52–72. [CrossRef]
Paper not yet in RePEc: Add citation now
- Qiu, Y.; Shaukat, A.; Tharyan, R. Environmental and social disclosures: Link with corporate financial performance. Br. Account. Rev. 2016, 48, 102–116. [CrossRef]
Paper not yet in RePEc: Add citation now
Rajan, R.G.; Zingales, L. What do we know about capital structure? Some evidence from international data. J. Financ. 1995, 50, 1421–1460. [CrossRef]
- Ramelli, S.; Wagner, A.F. Feverish stock price reactions to COVID-19. Rev. Corp. Financ. Stud. 2020, 9, 622–655. [CrossRef]
Paper not yet in RePEc: Add citation now
Roodman, D. How to do xtabond2: An introduction to difference and system GMM in Stata. Stata J. 2009, 9, 86–136. [CrossRef]
- Tiwari, A.K.; Abakah, E.J.A.; Karikari, N.K.; Gil-Alana, L.A. The outbreak of COVID-19 and stock market liquidity: Evidence from emerging and developed equity markets. N. Am. J. Econ. Financ. 2022, 62, 101735. [CrossRef]
Paper not yet in RePEc: Add citation now
Vanhamme, J.; Grobben, B. “Too good to be true!” The effectiveness of CSR history in countering negative publicity. J. Bus. Ethics 2009, 85, 273–283. [CrossRef]
Waddock, S.A.; Graves, S.B. The corporate social performance–financial performance link. Strateg. Manag. J. 1997, 18, 303–319. [CrossRef]
- WHO. A Timeline of WHO’s COVID-19 Response in the WHO European Region: A Living Document (Version 3.0, from 31 December 2019 to 31 December 2021); Regional Office for Europe UN City, Marmorvej 51, DK-2100 Copenhagen Ø, Denmark; World Health Organization: Geneva, Switzerland, 2022.
Paper not yet in RePEc: Add citation now
Wintoki, M.B.; Linck, J.S.; Netter, J.M. Endogeneity and the dynamics of internal corporate governance. J. Financ. Econ. 2012, 105, 581–606. [CrossRef]
- Wu, X.; Yeung, C.K.A. Firm growth type and capital structure persistence. J. Bank. Financ. 2012, 36, 3427–3443. [CrossRef]
Paper not yet in RePEc: Add citation now
- Zaremba, A.; Kizys, R.; Aharon, D.Y.; Demir, E. Infected markets: Novel coronavirus, government interventions, and stock return volatility around the globe. Financ. Res. Lett. 2020, 35, 101597. [CrossRef] [PubMed]
Paper not yet in RePEc: Add citation now