Cross-border regulatory cooperation and debt choice
研究监管监督对企业债务选择的影响，发现美国证券交易委员会加强监管有助于企业发行公开债务，尤其对代理问题严重的公司效果更明显。
The objective of this study is to examine the role of regulatory oversight in firms’ choice of debt. Using the signing of the Multilateral Memorandum of Understanding (MMoU) as a quasi-natural experiment, we find that enhanced SEC oversight facilitates public debt contracting, especially for firms with severe agency problems. Our study has important implications for both research and practice.