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Advances in Corporate Finance: Theory and Practice
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Advances in Corporate Finance: Theory and Practice

A special issue of International Journal of Financial Studies (ISSN 2227-7072).

Deadline for manuscript submissions: 31 March 2027 | Viewed by 1622

Special Issue Editor

Dr. Maggie Foley

E-Mail Website
Guest Editor
Davis College of Business and Technology, Jacksonville University, Jacksonville, FL 32211, USA
Interests: corporate finance; corporate governance; international finance; financial technology
Special Issues, Collections and Topics in MDPI journals

Special Issue Information

Dear Colleagues,

We invite submissions to the Special Issue “Advances in Corporate Finance: Theory and Practice.” Our goal is to assemble well-executed, clearly written studies that apply established corporate finance tools to current questions and offer practical takeaways for firms, investors, and policymakers.

Suitable contributions include (but are not limited to) the following: applied empirical papers using firm- or deal-level data; country/industry case studies; replications and extensions of influential findings in new settings; event studies; concise survey or tutorial articles that organize an area for instructors and practitioners; data notes and methodological primers; short communications with timely evidence; and policy or practitioner perspectives grounded in data.

Topics of interest: capital structure and payout policy; real investment and innovation; M&A and restructuring; boards, ownership, and executive compensation; disclosure and transparency; international corporate finance; ESG and sustainability in corporate policy; risk management and financial contracting; and the effects of fintech/digital finance on firm behavior and value.

We value clarity, appropriate methods, and transparent reporting. Regional evidence and null results are welcome when carefully documented and interpreted. Where feasible, authors are encouraged to provide data/code to support reproducibility.

We look forward to your contributions.

Dr. Maggie Foley
Guest Editor

Manuscript Submission Information

Manuscripts should be submitted online at www.mdpi.com by registering and logging in to this website. Once you are registered, click here to go to the submission form. Manuscripts can be submitted until the deadline. All submissions that pass pre-check are peer-reviewed. Accepted papers will be published continuously in the journal (as soon as accepted) and will be listed together on the special issue website. Research articles, review articles as well as short communications are invited. For planned papers, a title and short abstract (about 250 words) can be sent to the Editorial Office for assessment.

Submitted manuscripts should not have been published previously, nor be under consideration for publication elsewhere (except conference proceedings papers). All manuscripts are thoroughly refereed through a single-blind peer-review process. A guide for authors and other relevant information for submission of manuscripts is available on the Instructions for Authors page. International Journal of Financial Studies is an international peer-reviewed open access monthly journal published by MDPI.

Please visit the Instructions for Authors page before submitting a manuscript. The Article Processing Charge (APC) for publication in this open access journal is 1800 CHF (Swiss Francs). Submitted papers should be well formatted and use good English. Authors may use MDPI's English editing service prior to publication or during author revisions.

Keywords

  • corporate finance
  • corporate governance
  • capital structure
  • payout policy
  • mergers and acquisitions (M&A)
  • real investment and innovation
  • valuation
  • disclosure and transparency
  • executive compensation
  • boards and ownership
  • risk management
  • international corporate finance
  • ESG and sustainability
  • fintech and digital finance

Benefits of Publishing in a Special Issue

  • Ease of navigation: Grouping papers by topic helps scholars navigate broad scope journals more efficiently.
  • Greater discoverability: Special Issues support the reach and impact of scientific research. Articles in Special Issues are more discoverable and cited more frequently.
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  • External promotion: Articles in Special Issues are often promoted through the journal's social media, increasing their visibility.
  • Reprint: MDPI Books provides the opportunity to republish successful Special Issues in book format, both online and in print.

Further information on MDPI's Special Issue policies can be found here.

Published Papers (2 papers)

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Research

21 pages, 2193 KB  
Article
Trends in Capital Structure: A Bibliometric Analysis to Support the Construction of Decision-Support Methodologies
by José Matheus Ferreira Gomes dos Passos, Marcelo Nunes Fonseca, Rodrigo Martins Baptista, Wilson Toshiro Nakamura and Jonas Poutilho de Morais Pereira
Int. J. Financial Stud. 2026, 14(3), 69; https://doi.org/10.3390/ijfs14030069 - 5 Mar 2026
Viewed by 662
Abstract
This paper presents a bibliometric analysis and literature review of methodologies for optimal capital structure decision making, focusing on research published between 2000 and 2024. This study reviews current research, identifies gaps, and outlines a plan to support with financial decisions. A mixed-methods [...] Read more.
This paper presents a bibliometric analysis and literature review of methodologies for optimal capital structure decision making, focusing on research published between 2000 and 2024. This study reviews current research, identifies gaps, and outlines a plan to support with financial decisions. A mixed-methods approach was employed, combining data from the Web of Science and Scopus databases using the search string “capital structure” AND (“decision making” OR “optimal structure”). The study used Bibliometrix(R), VOSviewer, and NVivo tools, and followed the Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA) flowchart for choosing studies. The findings show that this field is well-developed but still changing. The intellectual structure is organized around two main clusters: one focused on testing classical theories and another oriented toward optimization and managerial applications, revealing a clear theory–practice divide. The mapping also highlights the dominance of Chinese and U.S. scholarship and the central role of practitioner-oriented journals such as Managerial Finance, indicating both a shift toward emerging markets and a strong demand for applicable research. The study provides three key contributions. First, it identifies important countries, authors, outlets, and themes. Second, it uses a method that combines bibliometric and text-mining tools. Third, it introduces a new decision-support framework that is thorough, context-sensitive, and flexible. There are some limitations. These include relying on Scopus and Web of Science, language limits, and the fact that bibliometrics cannot judge the quality of methods. Future research should empirically validate the proposed framework in different contexts, expand studies in emerging markets, test emerging theories such as Brusov–Filatova–Orekhova (BFO) theory, and develop more dynamic and stochastic models to better capture financial uncertainty. Full article
(This article belongs to the Special Issue Advances in Corporate Finance: Theory and Practice)
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22 pages, 286 KB  
Article
Industry Expertise of Independent Directors and Firm Misconduct: Evidence from China
by Huiling Tang, Shili Tang and Jiyuan Li
Int. J. Financial Stud. 2026, 14(2), 45; https://doi.org/10.3390/ijfs14020045 - 14 Feb 2026
Viewed by 599
Abstract
Independent directors play a critical role in overseeing company management, safeguarding the interests of both the company and its shareholders, and ensuring that decisions made by the board are scientific, rational, and fair. Directors with industry expertise bring greater experience and knowledge to [...] Read more.
Independent directors play a critical role in overseeing company management, safeguarding the interests of both the company and its shareholders, and ensuring that decisions made by the board are scientific, rational, and fair. Directors with industry expertise bring greater experience and knowledge to their roles, enabling them to prevent short-sighted decision-making while preserving their professional reputations. This research empirically examines whether the industry expertise trait of independent directors can inhibit the irregularities of the companies they serve, using a fixed-effects model that controls for industry, company, and year, with Chinese A-share-listed companies from 2003 to 2023 as the observational sample. Endogeneity issues are addressed by using the Heckman two-stage model and the propensity score matching (PSM) model. The findings reveal that (1) independent directors with industry expertise significantly mitigate corporate violations; and (2) their influence primarily stems from improvements in the quality of information disclosure, enhancements to internal control systems, and the resolution of principal–agent conflicts. Further analysis indicates that the restraining effect of independent directors with industry expertise is particularly pronounced in environments characterized by low institutional ownership and fewer analysts, highlighting their stronger supervisory role in such contexts. Full article
(This article belongs to the Special Issue Advances in Corporate Finance: Theory and Practice)
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