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Comments on "A reconsideration of tax shield valuation" by Enrique R. Arzac and Lawrence R. Glosten [PDF]

open access: yes
While Arzac and Glosten (2005) affirm that "the value of tax shields depends upon the nature of the equity stochastic process, which, in turn, depends upon the free cash flow process," I prove that the value of tax shields depends only upon the nature of
Fernandez, Pablo
core  

Does Managerial Ability Improve Environmental Performance and Overall ESG Ratings? The Impact of the European Sustainability Reporting Mandate

open access: yesBusiness Strategy and the Environment, EarlyView.
ABSTRACT This study examines the role of managerial ability in driving environmental performance and overall environmental, social, and governance (ESG) ratings in the context of the European Union sustainability reporting regulations. Using a sample of 7242 firm‐year observations over the period 2015–2023, our results indicate a structural change in ...
Mihaela Ionașcu   +2 more
wiley   +1 more source

Devaluation Beliefs and Debt Crisis: The Argentinian Case [PDF]

open access: yes
Throughout the year 2001 the Argentine real GDP fell by 20 percent and the Investment Rate decreased by more than 20 percent of the GDP. The government made several announcements on changes in exchange rate policy in order to assist the recovery of the ...
Eduardo L. Giménez   +2 more
core  

Independent Female Directors and Green Innovation in China: The Moderating Roles of Ownership Structure and Market Competition

open access: yesBusiness Strategy and the Environment, EarlyView.
ABSTRACT This study examines the impact of independent female directors (IFDs) on green innovation (GI) among Chinese‐listed firms from 2008 to 2023. Additionally, we investigate the moderating effects of ownership structure and market competition on the relationship between IFD and GI.
Muhammad Usman   +4 more
wiley   +1 more source

Nudging ESG Investments via Digital Financial Advising: Evidence From an Investment Game Experiment

open access: yesBusiness Strategy and the Environment, EarlyView.
ABSTRACT The influence of financial advisors on retail investors' sustainable investment choices remains surprisingly underexplored, despite their potential to shape investment behavior. This study uses an experimental design to examine how sustainability‐related information provided by a digital (simulated) financial advisor affects individual demand ...
Caterina Lucarelli   +2 more
wiley   +1 more source

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