This study explores the impact of digital finance on bankruptcy risk in Chinese A-share listed
firms. Using the digital finance index developed by PKU-DFIIC to measure the degree of …

Focusing on downgrades as stress events that drive the selling of corporate bonds, we show
that the illiquidity of stressed bonds has increased after the Volcker Rule. Dealers regulated …

This article examines the pricing of a firm's carbon risk in the corporate bond market.
Contrary to the “carbon risk premium” hypothesis, bonds of more carbon-intensive firms earn …

Purpose The main purpose of this study is to examine the effect of corporate digital
transformation on bond credit spreads. Additionally, it also explores the two potential …

Big data technology has revolutionized the research paradigm of economic forecasting
regardless of the data source, forecasting method, or forecasting result. This study evaluates …

Using a sample of bonds issued by publicly listed firms in China over the period 2009–2020,
we find a significantly negative relation between corporate ESG engagement (as proxied by …

This article investigates the nexus among the liquidity measures, credit ratings, and the yield
spreads of green corporate bonds in China using panel data analysis and the generalized …

This study shows the relationship between the price impact of a trade and the duration
between trades by extending a trade indicator microstructure model. Using the intraday …

I explore whether big-data sources can crowd out the value of private information acquired
through lending relationships. Institutional lenders have been shown to exploit their access …

We examine if managerial ability affects the efficiency of the contracting environment with
lenders. We find that higher ability alters the balance of information-sensitive covenants …