Access Statistics for Tao Chen

Author contact details at EconPapers.

Working Paper	File Downloads				Abstract Views
Working Paper	Last month	3 months	12 months	Total	Last month	3 months	12 months	Total
Financial Flexibility and Corporate Cash PolicyAbstract: Debt capacity creates financial flexibility and collateral-based debt capacity is the least sensitive to cash flow shocks. Using variation in real estate prices as exogenous shocks to corporate financing capacity, we investigate the causal effects of financial flexibility on firms¡¯ cash policies. We find strong evidence that increases in debt capacity lead to smaller corporate cash reserves and declines in the marginal value of cash holdings. We further find that the decrease in cash holdings is more pronounced in firms with higher hedging needs, greater investment opportunities, financial constraints, better corporate governance and lower local real estate price volatility	0	0	0	162	1	3	20	582
Financial Innovation: The Bright and the Dark Sides	0	0	5	414	0	0	23	1,313
Total Working Papers	0	0	5	576	1	3	43	1,895

Journal Article	File Downloads				Abstract Views
Journal Article	Last month	3 months	12 months	Total	Last month	3 months	12 months	Total
Do analysts matter for governance? Evidence from natural experiments	0	1	4	213	0	4	17	920
Does Information Asymmetry Affect Corporate Tax Aggressiveness?	0	0	0	37	0	0	3	122
Does credit rating conservatism matter for corporate tax avoidance?	0	0	0	6	2	2	2	16
Financial innovation: The bright and the dark sides	1	4	28	296	10	23	112	1,113
How does analysts' forecast quality relate to corporate investment efficiency?	0	1	1	49	1	2	11	275
Institutional shareholders and corporate social responsibility	1	2	35	284	4	17	126	931
Institutions, board structure, and corporate performance: Evidence from Chinese firms	1	1	7	78	5	8	21	268
Marginal cost of risk-based capital and risk-taking	0	0	1	14	0	0	3	50
Tariff uncertainty and firm innovation: Evidence from the U.S.–China Permanent Normal Trade Relation	0	0	0	10	0	1	11	52
Windfalls of emperors' sojourns: Stock market reactions to Chinese firms hosting high-ranking government officials	0	0	1	9	0	1	5	79
Total Journal Articles	3	9	77	996	22	58	311	3,826

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Statistics updated 2025-03-03