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We provide the first quantitative synthesis of the literature on how financial markets react to the disclosure of financial crimes committed by listed firms. While consensus expects negative stock price returns, the exact size of the effect is far from clear. We survey 111 studies published over...
Persistent link: https://www.econbiz.de/10014307133
Economic growth is propelled in part by the accumulation of different kinds of capital, including social capital in its several guises. This paper considers the interplay between financial crises and various aspects of social capital which, if it is allowed to depreciate, can undermine economic...
Persistent link: https://www.econbiz.de/10011288794
While trust and trustworthiness provide a fundamental foundation for human relationships, little is known about how … the World Values Survey to address a potential connection between trust and age. In this chapter, we will mainly focus on … trusting and trustworthy behavior elicited with the use of the seminal trust game (Berg et al., 1995) and with games …
Persistent link: https://www.econbiz.de/10011298524
We investigate whether there is a link between conditional cooperation and betrayal aversion. We use a public goods game to classify subjects by type of contribution preference and by belief about the contributions of others; and we measure betrayal aversion for different categories of subject....
Persistent link: https://www.econbiz.de/10011298544
' Union, Women's Union, etc.) and other voluntary organizations, trust, and the significance of family ties in economic … Communist Party membership, trust and access to informal insurance. …
Persistent link: https://www.econbiz.de/10011336547
high growth, but based on a simple stylized model of government behavior the expectation is that mainly high trust … countries provides support for this expectation. The difference in fiscal policies depending on government trust levels may help … explaining why better governed countries have been found to have less severe business cycles. It suggests that trust and …
Persistent link: https://www.econbiz.de/10009764994
In Switzerland, two key church institutions - the Conference of Swiss Bishops (CSB) and the Federation of Protestant Churches (FPC) - make public recommendations on how to vote for certain referenda. We leverage this unique situation to directly measure religious organizations ́power to shape...
Persistent link: https://www.econbiz.de/10010223454
We examine whether a corruption scandal in which the incumbent is implicated undermines trust in local government. We …, and data on the level of trust expressed in local politicians drawn from a new survey conducted in late 2009. We use … matching methods to improve the identification of the effect of corruption scandals on trust, comparing municipalities affected …
Persistent link: https://www.econbiz.de/10010375152
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