We investigate whether the diversification discount occurs partly as an artifact of poor corporate governance. In panel data models, we find that the discount narrows by 16% to 21% when we add governance variables as regression controls. We also estimate Heckman selection models that account for...

I study large charitable stock gifts by Chairmen and Chief Executive Officers (CEOs) of public companies. These gifts, which are not subject to insider trading law, often occur just before sharp declines in their companies' share prices. This timing is more pronounced when executives donate...

This paper shows connections between chief executive officers׳ (CEOs׳) absences from headquarters and corporate news disclosures. I identify CEO absences by merging records of corporate jet flights and CEOs׳ property ownership near leisure destinations. CEOs travel to their vacation homes...