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Adoption and Learning Across Hospitals : The Case of a Revenue-Generating Practice
Sacarny, Adam - 2018
Performance-raising practices tend to diffuse slowly in the health care sector. To understand how incentives drive adoption, I study a practice that generates revenue for hospitals: submitting detailed documentation about patients. After a 2008 reform, hospitals could raise their Medicare...
Persistent link: https://www.econbiz.de/10012453219
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Misreporting Trade : Tariff Evasion, Corruption, and Auditing Standards
Kellenberg, Derek - 2016
In official international trade statistics, annual commerce between every pair of countries is reported twice: once by the importing country and once by the exporter. These double reports provide an opportunity for audit. In principle, the two reported trade values should differ systematically...
Persistent link: https://www.econbiz.de/10012456086
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Do Private Equity Funds Manipulate Reported Returns?
Brown, Gregory W. - 2016
Private equity funds hold assets that are hard to value. Managers may have an incentive to distort reported valuations if these are used by investors to decide on commitments to subsequent funds managed by the same firm. Using a large dataset of buyout and venture funds, we test for the presence...
Persistent link: https://www.econbiz.de/10012456184
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The Effect of New Information Technologies on Asset Pricing Anomalies
Hirshleifer, David; Ma, Liang - National Bureau of Economic Research - 2024
We test and compare the effects of introduction of two new financial information technologies, EDGAR and XBRL, on well-known asset pricing anomalies often attributed to mispricing. EDGAR facilitates easier access to public accounting information about public firms; XBRL reduces the cost of...
Persistent link: https://www.econbiz.de/10015056093
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On ESG Investing : Heterogeneous Preferences, Information, and Asset Prices
Goldstein, Itay; Kopytov, Alexandr; Shen, Lin; Xiang, … - National Bureau of Economic Research - 2022
We study how environmental, social and governance (ESG) investing reshapes information aggregation by prices. We develop a rational expectations equilibrium model in which traditional and green investors are informed about financial and ESG risks but have different preferences over them. Because...
Persistent link: https://www.econbiz.de/10013191008
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Adoption of CSR and Sustainability Reporting Standards : Economic Analysis and Review
Christensen, Hans B. - 2019
) and sustainability reporting. To frame our analysis, we consider a widespread mandatory adoption of CSR reporting … number of insights that are relevant to the current debate on CSR and sustainability reporting and provides scholars with … standards in the United States. The study focuses on the economic effects of standards for disclosure and reporting, not on the …
Persistent link: https://www.econbiz.de/10012480115
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Toward an Understanding of Corporate Social Responsibility : Theory and Field Experimental Evidence
Hedblom, Daniel - 2019
We develop theory and a tightly-linked field experiment to explore the supply side implications of corporate social responsibility (CSR). Our natural field experiment, in which we created our own firm and hired actual workers, generates a rich data set on worker behavior and responses to both...
Persistent link: https://www.econbiz.de/10012480166
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Going Green in China : Firms’ Responses to Stricter Environmental Regulations
Fan, Haichao - 2019
This paper examines the effect of stringent environmental regulations on firms' environmental practices, economic performance, and environmental innovation. Reducing COD levels by 10% relative to 2005 levels is an aim of the Chinese 11th Five-Year Plan. Using a difference-in-differences...
Persistent link: https://www.econbiz.de/10012480484
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Impact Investing
Barber, Brad M. - 2019
We document that investors derive nonpecuniary utility from investing in dual-objective VC funds, thus sacrificing returns. Impact funds earn 4.7 percentage points (ppts) lower IRRs ex post than traditional VC funds. In random utility/willingness-to-pay (WTP) models investors accept 2.5-3.7 ppts...
Persistent link: https://www.econbiz.de/10012480526
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Competition Laws, Norms and Corporate Social Responsibility
Ding, Wenzhi - 2020
Theory offers differing perspectives and predictions about the impact of product market competition on corporate social responsibility (CSR). Using firm-level data on CSR from 2002 through 2015 and panel data on competition laws in 48 countries, we discover that intensifying competition induces...
Persistent link: https://www.econbiz.de/10012481348