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Unethical Culture, Suspect CEOs and Corporate Misbehavior

Biggerstaff, Lee - 2013

We show that firms with CEOs who personally benefitted from options backdating were more likely to engage in other forms of corporate misbehavior, suggestive of an unethical corporate culture. These firms were more likely to overstate firm profitability and to engage in less profitable...

Persistent link: https://www.econbiz.de/10012459399

Who Blows the Whistle on Corporate Fraud?

Dyck, Alexander - 2007

What external control mechanisms are most effective in detecting corporate fraud? To address this question we study in … depth all reported cases of corporate fraud in companies with more than 750 million dollars in assets between 1996 and 2004 …. We find that fraud detection does not rely on one single mechanism, but on a wide range of, often improbable, actors …

Persistent link: https://www.econbiz.de/10012465774

Trust and Cheating

Butler, Jeffrey V. - 2012

When we take a cab we may feel cheated if the driver takes an unnecessarily long route despite the lack of a contract or promise to take the shortest possible path. Is our decision to take the cab affected by our belief that we may end up feeling cheated? Is the behavior of the driver affected...

Persistent link: https://www.econbiz.de/10012460152

Does Transparency Reduce Favoritism and Corruption? Evidence from the Reform of Figure Skating Judging

Zitzewitz, Eric - 2012

Transparency is usually thought to reduce favoritism and corruption by facilitating monitoring by outsiders, but there is concern it can have the perverse effect of facilitating collusion by insiders. In response to vote trading scandals in the 1998 and 2002 Olympics, the International Skating...

Persistent link: https://www.econbiz.de/10012460925

Corporate Social Responsibility

Hong, Harrison G.; Shore, Edward P. - National Bureau of Economic Research - 2022

Is shareholder interest in corporate social responsibility driven by pecuniary motives (abnormal rates of return) or non-pecuniary ones (willingness to sacrifice returns to address various firm externalities)? To answer this question, we categorize the literature into seven tests: (1) costs of...

Persistent link: https://www.econbiz.de/10013477263

Polarizing Corporations : Does Talent Flow to "Good" Firms?

Colonnelli, Emanuele; McQuade, Timothy; Ramos, Gabriel; … - National Bureau of Economic Research - 2023

We conduct a field experiment in partnership with the largest job platform in Brazil to study how environmental, social, and governance (ESG) practices of firms affect talent allocation. We find both an average job-seeker's preference for ESG and a large degree of heterogeneity across...

Persistent link: https://www.econbiz.de/10014437044

What Purpose Do Corporations Purport? Evidence from Letters to Shareholders

Rajan, Raghuram Govind; Ramella, Pietro; Zingales, Luigi - National Bureau of Economic Research - 2023

Using natural language processing, we identify corporate goals stated in the shareholder letters of the 150 largest companies in the United States from 1955 to 2020. Corporate goals have proliferated, from less than one on average in 1955 to more than 7 in 2020. While in 1955, profit...

Persistent link: https://www.econbiz.de/10014247976

Selfish Corporations

Colonnelli, Emanuele; Gormsen, Niels; McQuade, Timothy - National Bureau of Economic Research - 2022

Motivated by the public debate regarding corporate responsibility, we construct a memory-based model of decision-making to illustrate how corporate and political communication can impact policy preferences. We test the predictions of our model in a new large-scale survey of U.S. citizens on...

Persistent link: https://www.econbiz.de/10013435138

Is There Information in Corporate Acquisition Plans?

Gokkaya, Sinan; Liu, Xi; Stulz, René M. - National Bureau of Economic Research - 2024

For many firms, the acquisition process begins with the development of an acquisition plan that is communicated to investors. We construct a comprehensive sample of acquisition plans to provide novel perspectives on the acquisition process and find that acquisition plans are informative to...

Persistent link: https://www.econbiz.de/10014512055

Project Development with Delegated Bargaining : The Role of Elevated Hurdle Rates

Barry, John W.; Carlin, Bruce Ian; Crane, Alan D.; … - National Bureau of Economic Research - 2024

During project development, costs are endogenously determined through delegated bargaining with counterparties. In surveys, nearly 80% of CFOs report using an elevated hurdle rate, the implications of which we explore in a delegated bargaining model. We show that elevated hurdle rates can convey...

Persistent link: https://www.econbiz.de/10014512137

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