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Initial Coin Offerings : Financing Growth with Cryptocurrency Token Sales
Howell, Sabrina T. - 2018
of the most successful ICOs. We find that liquidity and trading volume are higher when issuers offer voluntary disclosure …
Persistent link: https://www.econbiz.de/10012452947
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Investor Inattention, Firm Reaction, and Friday Earnings Announcements
DellaVigna, Stefano - 2005
Do firms release news strategically in response to investor inattention? We consider news about earnings and analyze the response of returns to announcements on Friday and other weekdays. Friday announcements have less immediate and more delayed stock return response. The delayed response as a...
Persistent link: https://www.econbiz.de/10012466993
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Complex Disclosure
Jin, Ginger Zhe - 2018
Disclosure policies have the potential to help consumers and make markets more efficient. Yet, the effectiveness of … disclosure policies can be undermined if firms strategically make unfavorable information unnecessarily complicated to understand …. To explore the incentives for using complexity in disclosure, we implement a game of mandatory disclosure where senders …
Persistent link: https://www.econbiz.de/10012453045
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Tractability in Incentive Contracting
Edmans, Alex - 2009
This paper identifies a class of multiperiod agency problems in which the optimal contract is tractable (attainable in closed form). By modeling the noise before the action in each period, we force the contract to provide sufficient incentives state-by-state, rather than merely on average. This...
Persistent link: https://www.econbiz.de/10012463104
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The analysis of firms and employees : quantitative and qualitative approaches
Bender, Stefan (contributor); Lane, Julia (contributor);  … - 2008
Persistent link: https://www.econbiz.de/10013480812
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Executives' "Off-The-Job" Behavior, Corporate Culture, and Financial Reporting Risk
Davidson, Robert - 2012
We examine how executives' behavior outside the workplace, as measured by their ownership of luxury goods (low "frugality") and prior legal infractions, is related to financial reporting risk. We predict and find that CEOs and CFOs with a legal record are more likely to perpetrate fraud. In...
Persistent link: https://www.econbiz.de/10012460658
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Communication within Firms : Evidence from CEO Turnovers
Impink, Stephen Michael; Prat, Andrea; Sadun, Raffaella - National Bureau of Economic Research - 2021
This paper uses novel, firm-level measures derived from communications metadata before and after a CEO transition in 102 firms to study if CEO turnover impacts employees' communication flows. We find that CEO turnover leads to an initial decrease in intra-firm communication, followed by a...
Persistent link: https://www.econbiz.de/10012599332
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Do Male Workers Prefer Male Leaders? An Analysis of Principals' Effects on Teacher Retention
Husain, Aliza N. - 2018
Using a 40-year panel of all public school teachers and principals in New York State, we explore how female principals affect rates of teacher turnover--an important determinant of school quality. We find that male teachers are about 12% more likely to leave their schools when they work under...
Persistent link: https://www.econbiz.de/10012480914
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How has CEO Turnover Changed? Increasingly Performance Sensitive Boards and Increasingly Uneasy CEOs
Kaplan, Steven N. - 2006
We study CEO turnover - both internal (board driven) and external (through takeover and bankruptcy) - from 1992 to 2005 for a sample of large U.S. companies. Annual CEO turnover is higher than that estimated in previous studies over earlier periods. Turnover is 14.9% from 1992 to 2005, implying...
Persistent link: https://www.econbiz.de/10012466199
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Co-Worker Complemetarity and the Stability of Top Management Teams
Hayes, Rachel M. - 2004
We investigate the hypothesis that complementarities across co-workers (which may arise from matching or investments in specific skills) affect the value of employment relationships between senior executives and firms. We analyze the changes in the composition of top management teams when a key...
Persistent link: https://www.econbiz.de/10012468343