--- title: Corporate Finance url: https://www.ml-quant.com/topics/corporate-finance/ site: ML-Quant (https://www.ml-quant.com) updated: 2026-09-26 license: Summaries CC BY 4.0; links go to the original sources index: https://www.ml-quant.com/llms.txt --- # Corporate Finance Firms, governance, IPOs, M&A and corporate decisions. 169 papers featured; 8 in the last 12 months. Papers featured per quarter: 2023 Q2 5, 2023 Q3 12, 2023 Q4 8, 2024 Q1 10, 2024 Q2 22, 2024 Q3 20, 2024 Q4 16, 2025 Q1 29, 2025 Q2 33, 2025 Q3 6, 2025 Q4 7, 2026 Q1 1, 2026 Q2 0, 2026 Q3 0 ## Most cited - [ESG Reputation Risk Matters: An Event Study Based on Social Media Data](https://www.ml-quant.com/papers/arxiv/2307.11571/): 106 citations. The paper examines the influence of social media on shareholders' reactions to Environmental, Social, and Governance-related reputational risks, revealing a significant decrease in abnormal returns after an ESG-risk event. - [Articulate AnyMesh: Open-Vocabulary 3D Articulated Objects Modeling](https://www.ml-quant.com/papers/arxiv/2502.02590/): 53 citations. 3D Object Modeling: Articulate Anymesh is a framework that transforms any rigid 3D mesh into an articulated object, aiding in the acquisition of new object manipulation skills in robotics. - [The Evolution of US Retail Concentration](https://www.ml-quant.com/papers/arxiv/2202.07609/): 17 citations. Retail concentration in the U.S. has grown from 1992 to 2012 due to multi-market firms expanding, contributing to a third of the increase in retail gross margins. - [Environmental Performance, Financial Constraints, and Tax Avoidance Practices: Insights from FTSE All-Share Companies](https://www.ml-quant.com/papers/arxiv/2509.08450/): 10 citations. Research shows that firms with better environmental performance, especially those under financial stress, are more likely to evade taxes, based on a study of 567 FTSE All Share listed companies from 2014 to 2022. - [A Mean Field Game approach for pollution regulation of competitive firms](https://www.ml-quant.com/papers/arxiv/2407.12754/): 9 citations. The article uses a model to study the effect of cap-and-trade pollution regulation on competitive firms. It finds that the level of competition greatly affects the economic outcomes of such regulation. - [Revisiting Granular Models of Firm Growth](https://www.ml-quant.com/papers/arxiv/2404.15226/): 8 citations. The paper explores firm growth models, presenting new theoretical and empirical findings on firm size and growth rates, and suggesting a lack of understanding about the mechanisms driving firm growth. - [Parameter Estimation Methods of Required Rate of Return on Stock](https://www.ml-quant.com/papers/arxiv/2305.19708/): 8 citations. New estimation methods introduced for required rate of returns on equity and liabilities of private and public companies using stochastic DDM, applied to S&P 500 firms over 32 years. - [Digital technologies and performance incentives: evidence from businesses in the Swiss economy](https://www.ml-quant.com/papers/arxiv/2412.12780/): 6 citations. The study reveals that Swiss firms that are more open to digital technologies tend to use performance incentives more often. - [Datalism and Data Monopolies in the Era of A.I.: A Research Agenda](https://www.ml-quant.com/papers/arxiv/2307.08049/): 6 citations. Datalism and Data Monopolies: The emergence of data monopolies, firms that dominate data usage in their operations, is challenging the traditional concepts in Monopoly Capital Theory. - [Revealing production networks from firm growth dynamics](https://www.ml-quant.com/papers/arxiv/2302.09906/): 6 citations. Firm growth rates are correlated through a common factor, but supply chain-linked firms have a stronger correlation, allowing for reconstruction of the supply chain network using Gaussian Markov Models. - [Asymmetric price adjustment over the business cycle](https://www.ml-quant.com/papers/arxiv/2506.10640/): 5 citations. Research indicates that small price changes asymmetry varies with the business cycle, with more asymmetry during low unemployment periods, implying firms' pricing behavior is influenced by the economy. - [Russian Financial Statements Database: A firm-level collection of the universe of financial statements](https://www.ml-quant.com/papers/arxiv/2501.05841/): 5 citations. The Russian Financial Statements Database (RFSD) is an open-source collection of annual financial statements from all active Russian firms from 2011-2023, offering data improvements and various economic applications. ## Latest - [Technology Adoption and Network Externalities in Financial Systems: A Spatial-Network Approach](https://www.ml-quant.com/papers/arxiv/2601.04246/) (2026-01-16): This study develops a framework to analyze how technology spreads in financial networks, uncovering the dynamics of adoption and the effects of firm traits. - [Investigating the Corporate Governance and Sustainability Relationship A Bibliometric Analysis Using Keyword-Ensemble Community Detection](https://www.ml-quant.com/papers/ssrn/4482116/) (2025-12-28): The paper explores how corporate governance relates to sustainability, emphasizing the need to consider stakeholder interests in long-term responsibility practices. - [Stochastic Social Preferences and Corporate Investment Decisions](https://www.ml-quant.com/papers/ssrn/4479486/) (2025-12-28): Investor preferences affect firms' green investments, potentially slowing down the transition to sustainable practices. - [Gender Diversity's Effect on Firm Risk](https://www.ml-quant.com/papers/ssrn/4956112/) (2025-12-01): This research indicates that having more women in a company's leadership improves risk management, especially in uncertain times. - [Strategic bid response under automated market power mitigation in electricity markets](https://www.ml-quant.com/papers/arxiv/2511.20812/) (2025-12-01): A study on electricity markets found that many firms altered bids to dodge penalties, but the measures' overall effectiveness remains questionable, suggesting the need for stricter regulations. - [De-Risking Development in Sub-Saharan Africa: A Qualitative Study of Investment Dynamics in Angola](https://www.ml-quant.com/papers/arxiv/2510.18906/) (2025-10-27): DFIs attract and reduce risk for foreign investors in Angola, but lasting gains need stronger local governance and policy reforms. - [Towards a feminist understanding of digital platform work](https://www.ml-quant.com/papers/arxiv/2510.19450/) (2025-10-27): A feminist analysis shows platform work causes precarity, surveillance, blurred work–life boundaries, and colonial legacies, and calls for participatory governance and structural reform. - [Gas supply shocks, uncertainty and price setting: evidence from Italian firms](https://www.ml-quant.com/papers/arxiv/2510.03792/) (2025-10-09): The study shows that Italian firms' pricing and inflation expectations are significantly affected by natural gas price shocks, especially during the post-COVID period due to supply disruptions from Russia's Ukraine invasion. - [Environmental Performance, Financial Constraints, and Tax Avoidance Practices: Insights from FTSE All-Share Companies](https://www.ml-quant.com/papers/arxiv/2509.08450/) (2025-09-13): Research shows that firms with better environmental performance, especially those under financial stress, are more likely to evade taxes, based on a study of 567 FTSE All Share listed companies from 2014 to 2022. - [Identifying Risk Variables From Raw ESG Data Using Its Hierarchical Structure](https://www.ml-quant.com/papers/arxiv/2508.18679/) (2025-08-29): The research introduces a Hierarchical Variable Selection algorithm that outperforms traditional methods in identifying relevant ESG variables for corporate risk assessment. - [Carbon Disclosure Effect, Corporate Fundamentals, and Net-zero Emission Target: Evidence from China](https://www.ml-quant.com/papers/arxiv/2508.17423/) (2025-08-29): A study using AI tools reveals that comprehensive carbon emissions disclosure positively affects the financial performance of Chinese A-share listed companies, emphasizing the significance of carbon transparency in financial markets. - [Deciphering the global production network from cross-border firm transactions](https://www.ml-quant.com/papers/arxiv/2508.12315/) (2025-08-20): A study shows that products are grouped into textiles, chemicals and food, and machinery and metals, with Europe and China controlling key intermediate products. - [From Revolution to Ruin: An Empirical Analysis Yemen's State Collapse](https://www.ml-quant.com/papers/arxiv/2507.08512/) (2025-07-17): Economic and Institutional Impact: The 2011 revolution and civil war in Yemen led to a significant economic and institutional decline, with a decrease in output and income, a deterioration in investment and trade openness, and a collapse in governance metrics. - [Digital Transformation and the Restructuring of Employment: Evidence from Chinese Listed Firms](https://www.ml-quant.com/papers/arxiv/2506.23230/) (2025-07-03): Chinese companies' digital transformation is changing job structures, increasing the need for managerial and technical roles and decreasing manual labor demand. - [The FMA indicator: An index based exclusively on dividends](https://www.ml-quant.com/papers/ssrn/5241825/) (2025-06-25): The article introduces a technical analysis approach that uses dividends to predict a share's lifetime price range. - [Operational Flexibility Impact on Firm Risk](https://www.ml-quant.com/papers/ssrn/5234344/) (2025-06-25): The paper shows that operational flexibility reduces implied volatility and equity cost, based on the introduction of an exit option. - [IRS Officials' Trades](https://www.ml-quant.com/papers/ssrn/5245652/) (2025-06-25): IRS officials' personal stock trades yield positive abnormal returns and are linked to future tax enforcement outcomes for the invested firms. - [Asymmetric price adjustment over the business cycle](https://www.ml-quant.com/papers/arxiv/2506.10640/) (2025-06-18): Research indicates that small price changes asymmetry varies with the business cycle, with more asymmetry during low unemployment periods, implying firms' pricing behavior is influenced by the economy. - [Firm Linkages](https://www.ml-quant.com/papers/ssrn/5286827/) (2025-06-11): The new Characteristic Vector Linkages (CVLs) method estimates firm linkages and constructs profitable momentum spillover trading strategies, with Quantum Cognition Machine Learning outperforming Euclidean similarity. - [Intangible Intensity & Performance](https://www.ml-quant.com/papers/ssrn/5281429/) (2025-06-04): The study examines the link between intangible asset intensity and abnormal net hiring in U.S. firms, finding a positive correlation with both intangible asset intensity and annual intangible investment. - [Predicting S&P 500 Trajectories](https://www.ml-quant.com/papers/ssrn/5279690/) (2025-06-04): The 3MR Reactive Valuation Model is introduced as a dynamic, retrospective alternative to the dividend discount model, explaining how investors value earnings without using the discounting approach. - [Temperature Exposure and Firms' Green Revenues](https://www.ml-quant.com/papers/ssrn/5271517/) (2025-05-30): The research investigates the impact of temperature anomalies on firm-level risk, concluding that temperature beta affects firms' productivity, profitability, and cash flows, and that stocks with high temperature betas yield higher risk-adjusted returns. - [Corporate Finance Monte Carlo Simulation](https://www.ml-quant.com/papers/ssrn/5268498/) (2025-05-30): Monte Carlo Simulation is used to predict a company's financial outcomes for various events, with exotic derivatives offering new ways to reduce capital costs and increase shareholder return. - [Public Disclosures and Capital](https://www.ml-quant.com/papers/ssrn/5264116/) (2025-05-30): The research analyzes firms' disclosure decisions and investors' incentives, concluding that the current equilibrium is socially inefficient. - [Biodiversity Risk](https://www.ml-quant.com/papers/ssrn/5260811/) (2025-05-21): Current methods of measuring a firm's impact on biodiversity are flawed due to incomplete data, inconsistent methodologies, and lack of understanding. - [Internal Carbon Price and Firm Performance](https://www.ml-quant.com/papers/ssrn/5252987/) (2025-05-14): The adoption of internal carbon pricing (ICP) decreases future profitability and stock returns but increases firm valuation, showing investor value in sustainability commitment. - [Corporate Environmental Governance: A Global Study of Internal Carbon Pricing](https://www.ml-quant.com/papers/ssrn/5252571/) (2025-05-14): The paper investigates the factors influencing the adoption of internal carbon pricing among publicly listed firms in 54 countries. - [Global Skyscraper Determinants](https://www.ml-quant.com/papers/ssrn/5236250/) (2025-05-14): Autocratic governance and inter-city competition significantly impact skyscraper development, with autocratic nations more likely to have taller skyscrapers. - [Multi-level Governance, Smart Meter Adoption, and Utilities' Energy Efficiency Savings in the U.S](https://www.ml-quant.com/papers/arxiv/2505.05596/) (2025-05-14): A study on smart meter adoption in the US shows that federal funding and state legislative actions positively impact adoption and energy efficiency savings, emphasizing the need for multi-level governance in policy integration. - [Human Capital in VC](https://www.ml-quant.com/papers/ssrn/5239857/) (2025-05-07): Venture capital partners with diverse backgrounds are more likely to lead high-risk, innovative investments, which have a higher chance of major success or failure, highlighting their role in screening and enhancing firm performance.