This paper examines whether and when the information environment of peer firms in an
industry affects the cost of capital for other firms in the industry. We predict and find that the …

Abstract Theory provides several channels linking the corporate life cycle and lending risks.
Using a sample of 20,307 firm-loan observations spanning 5,076 publicly traded US firms …

Abstract Using US Department of Justice data on state‐level political corruption, we find that
banks charge higher loan spreads (all‐in‐drawn spreads) to firms in states with higher …

Using 329 time-varying industry factors to capture heterogeneous revenue generation
processes, we quantify the impact of ASC 606 on revenue recognition for US-listed firms …

Industries use persuasion strategies to gain public support when challenged by activist
groups on consumer-relevant issues. This marketing practice, termed “direct-to-public …

Previous studies suggest that a higher level of corporate social responsibility (CSR) is
associated with a lower cost of equity capital. However, there are very few studies on the link …

A few highly successful firms (“superstar firms”) have captured large market shares and
earned massive profits in recent decades. We examine whether superstar firms are …

Motivated by a large literature on how firm-specific resources (such as leadership and
management skills, strategies, organizational capabilities and intellectual properties) drive …

Despite the fact that income smoothing by managers is a pervasive phenomenon that has
been widely researched, extant literature provides incomplete evidence on how smoothing …

This article offers the novel insight that loan pricing is affected by the redeployability of
borrowers' capital assets and labor. We find that both capital and labor redeployability are …