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This study examines the impact of debt maturity structure on stock price crash risk (SPCR) in Asian economies and the moderating effect of firm age on this relationship.

The study utilized annual data from 432 nonfinancial firms publicly listed in six Asian countries: China, Hong Kong, Japan, Singapore, Pakistan and India. The observation period covers 14 years, from 2007 to 2020. The sample was categorized into three groups: the entire sample and one group each for developing and developed Asian economies. A generalized least squares panel regression method was employed to test the research hypotheses.

The results suggest that long-term debt has a significant negative influence on SPCR in Asian economies, indicating that firms with high long-term debt experience lower future SPCR. Moreover, firm age negatively moderates this relationship, implying that older firms may experience a more pronounced reduction in SPCR due to high long-term debt. Finally, firms in developed Asian economies with high long-term debt are more effective in mitigating the risk of a significant drop in their stock prices than firms in developing Asian economies.

This study contributes to the literature in several ways. To the best of the researcher’s knowledge, this is the first of such efforts to investigate the relationship between debt maturity structure and crash risk in Asia. Additionally, it reveals that long-term debt influences SPCR directly and indirectly in Asia through the moderating role of firm age. Lastly, it is likely one of the first studies by a research team in Asia to compare the nonfinancial markets of developed and developing Asian countries.

Considering the relevance of understanding what influences environmentally sustainable consumer choices, the present study aims to examine and synthesize the key determinants factors from literature and outline a new conceptual framework for explaining green purchasing behaviors (GPBs).

A bibliometric analysis was conducted on 161 articles extracted from Web of Science and Scopus databases, which were systematically evaluated and reviewed, and represent the current GPB knowledge base. Content analysis, science mapping and bibliometric analysis techniques were applied to uncover the major theories and constructs from the state-of-the-art.

The evolving debate between altruistic and self-interest consumer motivations reveals challenges for rational-based theories, as most empirical applications are not focused on buying behaviors, but instead either on pro-environmental (non-buying) activities or on buying intentions. From the subset of leading contributions and emerging topics, nine thematic clusters are unveiled in this investigation, which were combined to create the new PSICHE framework with the purpose of predicting GPB: (P)roduct-related factors, (S)ocial influences, (I)ndividual factors, (C)oncerns about the environment, (H)abits and (E)motions.

By uncovering the multiple intervening factors in GPB decision processes, this study will assist practitioners and academics to move forward on how to foster more sustainable consumer behaviors.

The present study provides readers a summary of an unprecedentedly broad collection of papers, from which the key themes are categorized, the domain's intellectual structure is captured and an actionable framework for enhancing the understanding GPB is proposed. Four new thrust areas and a set of future research questions are included.