Financial Constraints and Firm Performance: Evidence from SMEs Using Survey Data and Propensity Score Matching

THE EFFECT OF LEVERAGE, FIRM SIZE, PROFITABILITY, AND OPERATING ACTIVITIES ON EARNINGS QUALITY OF CONSUMER NON-CYCLICALS LISTED ON IDX

Earnings transparency and debt financing: evidence on debt levels and borrowing costs in India

This study examines how earnings transparency (ET) impacts debt financing, focusing on both the level of debt and the cost of borrowing in Indian firms, an emerging market featured by severe information frictions. Using a panel dataset of 2,520 listed firms over the period 2010–2025, we employ multiple econo...

Liquidity, Profitability, and Operating Cash Flow: Their Association with Financial Performance in Indonesia's Food and Beverage Subsector

This study investigates how liquidity, profitability, and operating cash flow relate to the financial performance of food and beverage subsector firms on the Indonesia Stock Exchange (IDX-IC) between 2019 and 2024. A purposive sampling procedure yielded a balanced panel of 52 firms (312 firm-year observations), analyze...

Financial flexibility and firm performance: The mediating role of operating cash flow efficiency in an emerging market

This study investigates how financial flexibility influences firm performance among Thai listed firms during 2021–2025. The analysis additionally evaluates whether operating cash flow helps clarify the linkage between financial flexibility and firm performance. Cash holdings, leverage, and the current ratio are employe...

Does environmental performance reduce corporate financing costs? Evidence from U.S. listed firms

This study examines the relationship between environmental performance and corporate financing costs using a panel sample of U.S. listed firms from 2013 to 2024. Environmental performance is measured by environmental scores obtained from S&P Global ESG data, while financing cost is proxied by firms’ interest expenses r...

Accrual Earnings Management and Firm Valuation: Distributional Evidence From JSE-Listed Firms

This study evaluates whether investors on the Johannesburg Stock Exchange (JSE) incorporate accrual earnings management (AEM) into firm valuation decisions. Using a panel dataset of 171 non-financial firms and 1,881 firm-year observations over the period 2015-2025, discretionary accruals are estimated using the perform...