Purpose: The purpose of this paper is to investigate the role of macroeconomic factors and the institutional environment on corporate financial flexibility (FF). Most studies focus on well-developed financial markets and very little is known about corporate FF in less developed financial...

Purpose: The purpose of this paper is to investigate the role of banking sector concentration, banking sector development and equity market development in corporate financial flexibility (FF). Design/methodology/approach: The study used annual data for the period from 1991 to 2014 to examine...

Purpose: The purpose of this study is to investigate safe-haven properties of environmental, social and governance (ESG) stocks in global and emerging ESG stock markets during the times of COVID-19 so that portfolio managers and equity market investors could decide to use ESG stocks in their...

Value of Bank has been estimated using Tobin's Q formula while total accruals have been measured through income statement approach i.e. difference between net income and net cash flows from operating activities. In this study, Cross Sectional Modified Jones Model [1995] has been used to...