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Parsons, Christopher A. - 2014

misconduct correspond with local waves of non-financial corruption, such as political fraud …

Persistent link: https://www.econbiz.de/10012458320

Jamilov, Rustam; Rey, Hélène; Tahoun, Ahmed - National Bureau of Economic Research - 2021

We construct novel text-based measures of firm-level cyber risk exposure based on quarterly earnings calls of 12,000+ firms from 85 countries over 20+ years. We categorize each cyber-related discussion into topics that capture sentiment, monetary loss, country names, etc. We document new facts...

Persistent link: https://www.econbiz.de/10012585390

Cybersecurity Risk

Florakis, Chris - 2020

We develop a novel firm-level measure of cybersecurity risk using textual analysis of cybersecurity-risk disclosures in corporate filings. The measure successfully identifies firms extensively discussing cybersecurity risk in their 10-K, displays intuitive relations with quantitative measures of...

Persistent link: https://www.econbiz.de/10012482415

The Economic Limits of Bitcoin and the Blockchain

Budish, Eric - 2018

The amount of computational power devoted to anonymous, decentralized blockchains such as Bitcoin's must simultaneously satisfy two conditions in equilibrium: (1) a zero-profit condition among miners, who engage in a rent-seeking competition for the prize associated with adding the next block to...

Persistent link: https://www.econbiz.de/10012453003

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

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

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

Information versus Investment

Terry, Stephen; Whited, Toni Marion; Zakolyukina, … - National Bureau of Economic Research - 2022

We quantify the real implications of trade-offs between firm information disclosure and long-term investment efficiency. We estimate a dynamic equilibrium model in which firm managers confront realistic incentives to misreport earnings and distort their real investment choices. The model implies...

Persistent link: https://www.econbiz.de/10012814411

The Economics of Fraudulent Accounting

Kedia, Simi - 2005

We argue that earnings management and fraudulent accounting have important economic consequences. In a model where the costs of earnings management are endogenous, we show that in equilibrium, bad managers hire and invest too much in order to pool with the good managers. This behavior distorts...

Persistent link: https://www.econbiz.de/10012467105