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Using hand-collected data spanning more than a decade on European banks' sovereign debt portfolios, we show that the trust of residents of a bank's countries of operation in the residents of a potential target country of investment has a positive, statistically significant, and economically...
Persistent link: https://www.econbiz.de/10013477202
In 2017, "The Big Three" institutional investors launched campaigns to increase gender diversity on corporate boards. We estimate that their campaigns led American corporations to add at least 2.5 times as many female directors in 2019 as they had in 2016. Firms increased diversity by...
Persistent link: https://www.econbiz.de/10013462705
Politicians and regulators rely on feedback from the public when setting policies. For-profit corporations and non-pro t entities are active in this process and are arguably expected to provide independent viewpoints. Policymakers (and the public at large), however, may be unaware of the...
Persistent link: https://www.econbiz.de/10012480980
divestment to combat climate change. Will it work? This chapter explores whether divestment might induce green innovation, a … critical component of transitioning to a cleaner economy. Divestment could theoretically steer innovation by increasing the … investment opportunities. I argue that continuing to invest in dirty industries could drive green innovation conditional on …
Persistent link: https://www.econbiz.de/10014226139
We use the COVID shock to study the direct and interactive effects of several forms of corporate flexibility on short- and long-term real business plans. We find that i) workplace flexibility, namely the ability for employees to work remotely, plays a central role in determining firms'...
Persistent link: https://www.econbiz.de/10012938715
A central premise of research in the strategic management of innovation is that start-ups are able to leverage emerging … imitation. Our findings suggest that staged exploration may stall innovation as a result of the replacement effect, increasing …
Persistent link: https://www.econbiz.de/10012481344
two strategies toward that end: imitation and innovation. The theory bears predictions about the evolution of the …
Persistent link: https://www.econbiz.de/10012481599
Representation of women and minorities in a "selectorate"--the group that chooses an organization's leaders--is a key mechanism for promoting diversity. We show that representation, on its own, is not sufficient for selecting gender diversity: a supportive organizational culture is also...
Persistent link: https://www.econbiz.de/10012510528
Corporate culture is an omnibus term that includes many elements like norms, values, knowledge, and customs that are relevant to a firm. Economists have made great progress recently in devising methods of measuring different aspects of corporate culture. These empirical measures of culture have...
Persistent link: https://www.econbiz.de/10012660000
Social progress through improved treatment of minority groups (the embrace of anti-racist and anti-sexist norms, for example) may or may not spread to corporate cultures through competition. Sometimes the market fails to adapt on its own and government must pass legislation to secure changes in...
Persistent link: https://www.econbiz.de/10012479440