This research assesses the effectiveness of China's green credit policy. We explore whether
firms with better external environmental disclosure and internal green innovation receive …

This review surveys the literature on the corporate governance of banks. Traditional
corporate governance mechanisms, such as concentrated ownership and takeover threats …

Prior work on leverage implicitly assumes capital availability depends solely on firm
characteristics. However, market frictions that make capital structure relevant may also be …

We identify the effects of monetary policy on credit risk‐taking with an exhaustive credit
register of loan applications and contracts. We separate the changes in the composition of …

Corporate governance is concerned with the resolution of collective action problems among
dispersed investors and the reconciliation of conflicts of interest between various corporate …

Highly variable returns, asymmetric information and a lack of collateral should cause small
high‐tech firms to have poor access to debt. New equity financing has several advantages …

We study how relationship lending and transaction lending vary over the business cycle. We
develop a model in which relationship banks gather information on their borrowers, allowing …

We examine the impact of explicitly incorporating a measure of debt capacity in recent tests
of competing theories of capital structure. Our main results are that if external funds are …

We examine how the banking sector could ignite the formation of asset price bubbles when
there is access to abundant liquidity. Inside banks, to induce effort, loan officers are …

The savings/investment process in capitalist economies is organized around bank-like
financial intermediaries (“banks”), making them a central institution of economic growth …