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The Causal Effect of Religious Piety on Shareholder Wealth : Evidence from Acquirer Returns and Historical Religious Identification

Chintrakarn, Pandej - 2015

Prior research shows that religion promotes honesty. Honesty in turn motivates managers to view an expropriation from …

Persistent link: https://www.econbiz.de/10013009377

Capital Structure, CEO Dominance, and Corporate Performance

Jiraporn, Pornsit - 2011

conflicts, managers may not always adopt leverage choices that maximize shareholders' value. Consistent with the prediction of …

Persistent link: https://www.econbiz.de/10013127772

How Do Powerful CEOs Affect Analyst Coverage?

Jiraporn, Pornsit - 2012

We examine how CEO power affects the extent of analyst coverage. CEO power may influence the CEO's incentives to disclose information. The amount of information disclosed by the firm in turn influences the information environment, which affects the financial analyst's incentives to “cover”...

Persistent link: https://www.econbiz.de/10013108058

How Do Powerful CEOs View Corporate Social Responsibility (CSR)? An Empirical Note

Jiraporn, Pornsit - 2013

We explore how powerful CEOs view investments in corporate social responsibility (CSR). The agency view suggests that CEOs invest in CSR to enhance their own private benefits. On the contrary, the conflict resolution view argues that CSR investments are made to resolve the conflicts among...

Persistent link: https://www.econbiz.de/10013085700

Corporate Social Responsibility (CSR) and CEO Luck : Are Lucky CEOs Socially Responsible?

Jiraporn, Pornsit - 2013

primarily used to enhance managers' private benefits at the expense of shareholders. Rather, lucky CEOs appear to view CSR …

Persistent link: https://www.econbiz.de/10013087771

Corporate Diversification, Managerial Ownership, and Firm Value : Evidence from the Thai Financial Crisis

Charoenwong, Charlie - 2013

This study investigates whether corporate diversification in Thailand led to value creation or destruction. The evidence shows that, like studies in developed countries, companies listed on the Stock Exchange of Thailand (SET), on average, experience a value loss of more than 10% through their...

Persistent link: https://www.econbiz.de/10013093774

The Effect of CEO Luck on the Informativeness of Stock Prices : Do Lucky CEOS Improve Stock Price Informativeness?

Chintrakarn, Pandej - 2013

CEOs are “lucky” when they are granted stock options on days when the stock price is lowest in the month of the grant, implying opportunistic timing and severe agency problems (Bebchuck, Grinstein, and Peyer, 2010). Using idiosyncratic volatility as our measure of stock price...

Persistent link: https://www.econbiz.de/10013072852

Managerial Talent and Corporate Social Responsibility (CSR) : How Do Talented Managers View Corporate Social Responsibility?

Jiraporn, Pornsit - 2015

Motivated by the on-going debate on the costs and benefits of CSR, we explore how talented managers view CSR … managers view CSR investments favorably. However, only those with especially strong talent are in favor of CSR investments. For … investments, suggesting that these strongly talented managers perceive CSR as enhancing firm performance. By contrast, for those …

Persistent link: https://www.econbiz.de/10013015404

How Do Powerful CEOs View Dividends and Stock Repurchases? Evidence from the CEO Pay Slice (CPS)

Chintrakarn, Pandej - 2018

Agency theory suggests that CEOs view dividends unfavorably because dividend payouts deprive them of the free cash flow they could otherwise exploit. Using Bebchuk, Cremers, and Peyer's (2011) CEO pay slice (CPS) to measure CEO power, we find that an increase in CEO power by one standard...

Persistent link: https://www.econbiz.de/10012926278

How Do Independent Directors Influence Corporate Risk-Taking? Evidence from a Quasi-Natural Experiment

Jiraporn, Pornsit - 2017

prevents managers from taking excessive risk. Additional analysis based on propensity score matching also confirms our results …

Persistent link: https://www.econbiz.de/10012953971