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The dark side of 'good' corporate governance: compliance-fuelled book-cooking activities

Kirchmaier, Thomas; Selvaggi, Mariano - London School of Economics (LSE) - 2006

We argue on theoretical grounds that obligatory compliance with stricter financial reporting rules (e.g. the US Sabanes-Oxley Act) may entail important unintended consequences. Paradoxically, the amount of misreporting may increase because corporate boards spend more valuable resources...

Persistent link: https://www.econbiz.de/10010745362

Financing and corporate growth under repeated moral hazard

Anderson, Ronald W.; Nyborg, Kjell G. - London School of Economics (LSE) - 2001

This paper considers the impact of financial contracting on growth by exploring a model where entrepreneurs initially do R&D but subsequently need both outside investors to provide funds for capital investments and outside mangers to operate the firm efficiently some time after assets are in...

Persistent link: https://www.econbiz.de/10010744895

Agency, firm growth, and managerial turnover

Anderson, Ronald W.; Bustamante, Maria Cecilia; … - London School of Economics (LSE) - 2012

We study the relation between firm growth and managerial incentive provision under moral hazard when a long-lived firm is operated by a sequence of managers. In our model, firms replace their managers not only upon poor performance to provide incentives, but also when outside managers are at a...

Persistent link: https://www.econbiz.de/10010745265

Attracting investor attention through advertising

Lou, Dong - London School of Economics (LSE) - 2009

This paper provides empirical evidence that managers adjust firm advertising expenditures to influence investor behavior and short-term stock prices. First, this paper shows that increased advertising spending is associated with individual investor buying and a contemporaneous rise in abnormal...

Persistent link: https://www.econbiz.de/10010746466

From government to governance: external influences on business risk management

Hutter, Bridget M.; Jones, Clive J - London School of Economics (LSE) - 2007

The influence of external organizations and pressures on business risk management practices has hitherto been examined through the influence of state regulatory regimes on businesses. This article concentrates on key socio-legal concerns about the influence of the law in social and economic...

Persistent link: https://www.econbiz.de/10011183326

Public opinion and the crisis: the dynamics of support for the euro

Hobolt, Sara B.; Wratil, Christopher - London School of Economics (LSE) - 2015

Further integration in the European Union (EU) increasingly depends on public legitimacy. The global financial crisis … and the subsequent euro area crisis have amplified both the salience and the redistributive consequences of decisions … contribution, we examine how public opinion has responded to the crisis, focusing on support for monetary integration …

Persistent link: https://www.econbiz.de/10011265670

The lifecycle of the financial sector and other speculative industries

Biais, Bruno; Rochet, Jean-Charles; Woolley, Paul - London School of Economics (LSE) - 2009

fragile, eventually there is a crisis, and the industry shrinks. Our model thus captures important stylized facts of the …

Persistent link: https://www.econbiz.de/10010744809

Institutional change in Greek industrial relations in an era of fiscal crisis

Voskeritsian, Horen; Kornelakis, Andreas - London School of Economics (LSE) - 2011

The main aim of this paper is to contribute to the ongoing debate on the facets of the Greek crisis via an analysis of …

Persistent link: https://www.econbiz.de/10010744857

Do economic crises lead to health and nutrition behavior responses?: analysis using longitudinal data from Russia

Nikoloski, Zlatko; Ajwad, Mohamed Ihsan - London School of Economics (LSE) - 2013

estimates the impact of the 2009 global financial crisis on food expenditures, health care expenditures, and doctor visits in … between households that were crisis-affected and households that were not affected by the crisis. However the analysis finds … that crisis-affected poor families curtailed their out-of-pocket health expenditures during and after the crisis more than …

Persistent link: https://www.econbiz.de/10010746251

Institutional Change in Greek Industrial Relations in an Era of Fiscal Crisis

Voskeritsian, Horen; Kornelakis, Andreas - London School of Economics (LSE) - 2011

The main aim of this paper is to contribute to the ongoing debate on the facets of the Greek crisis via an analysis of …

Persistent link: https://www.econbiz.de/10010686663