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Freedom of speech and debt choice: Evidence from state-level anti-SLAPP laws
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DOI：10.1016/j.frl.2026.110590.png)
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Abstract
En 中文
• We examine the relation between free speech protections and debt choice. • Firms reduce their reliance on bank debt when free speech protection strengthens. • Improved information environment and governance explain the decline in bank debt. • There is a corresponding increase in public debt reliance.
Keywords:
Free speech protections
Anti-SLAPP laws
Corporate disclosure
Corporate governance
Debt structure
G18
G21
G32
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