Exploiting the staggered enactment of state-level constituency statutes as an exogenous increase in stakeholder orientation, this paper examines whether, and if so, how stakeholder orientation affects labor investment efficiency. Following constituency statutes adoption, we find firms experience...

Exploiting the staggered enactment of state-level constituency statutes as an exogenous increase in stakeholder orientation, this paper examines whether, and if so, how stakeholder orientation affects labor investment efficiency. Following constituency statutes adoption, we find firms experience...

Empirical studies examining the financing decisions of the firm focus exclusively on publicly held firms, not family-controlled firms despite their economic importance. This study investigates the external financing behavior of family-controlled firms, using a comprehensive sample of 777 large...

This paper investigates the effect of CFO gender on corporate financial reporting decision-making. Focusing on firms that experience changes of CFO from male to female, the paper compares the firms' degree of accounting conservatism between pre- and post-transition periods. We find that female...

This paper examines the relation between a series of past earnings increases and the credibility of voluntary management earnings forecasts. We demonstrate that both analyst forecast revisions and stock price reactions around management earnings forecasts that contain good news are more...

This study examines how earnings predictability affects bank loan contracting. Using a sample of 8,626 bank loan contracts, we find that firms with more predictable earnings have more favorable loan terms, such as lower interest rates, longer maturities, and fewer covenants and collateral...

This paper investigates the effect of CFO gender on corporate financial reporting decision-making. Focusing on firms that experience changes of CFO from male to female, the paper compares the firms' degree of accounting conservatism between pre- and post-transition periods. We find that female...

This paper investigates the effect of gender on corporate financial reporting decision-making. By focusing on firms that experience changes of CFO from male to female, we compare the firm's degree of reporting conservatism between pre- and posttransition periods. Using various measures of...