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This article analyzes and critiques the federal securities laws' reliance on disclosure as the primary method of protecting investors and regulating the securities markets. Since the inception of the federal securities law seventy years ago, the policy has always been that, as long as...
Persistent link: https://www.econbiz.de/10012778265
measured by comparing each firm's performance to that of a control benchmark designed to capture what the firm's performance …
Persistent link: https://www.econbiz.de/10012778867
The product differentiation hypothesis for trade credit says that business managers use trade credit like advertising to differentiate their products. Prior studies of this hypothesis conclude that higher profit margins induce firms to increase trade credit and vice versa. We better represent...
Persistent link: https://www.econbiz.de/10012779127
The article discusses the nature of corporate personhood and the propriety of using certain types of evidence to prove corporate misconduct. Under Federal Rule of Evidence 404, the character evidence rule, evidence of a person's bad character generally is not admissible to prove that a person...
Persistent link: https://www.econbiz.de/10012779565
This doctoral thesis examines the influence of relative performance and managerial incentives on corporate financial misrepresentation, and then tests the relationship between misrepresentation and subsequent operating performance, including the moderating effects of change in board composition...
Persistent link: https://www.econbiz.de/10012766271
The concept of vertical architecture defines the scope of a firm and the extent to which it is open to final and intermediate markets. A firm can make or buy inputs, and transfer outputs downstream or sell them. Permeable vertical architectures are partly integrated and partly open to the...
Persistent link: https://www.econbiz.de/10012708119
interests that they would self-destruct if they controlled the firm. Accordingly they tie their own hands by ceding control to a … promises to stakeholders. Accordingly, firms hand control to a board of disinterested directors who act as mediating hierarchs … governance is not control by independent, disinterested directors but by CEOs. I then discuss why the alternative -- shareholder …
Persistent link: https://www.econbiz.de/10012709410
In today's global economy, corporate social responsibility (CSR) is a core component of corporate strategy. Due in part to financial scandals, losses, and the diminished reputation of the affected listed companies, CRS is emerging as a crucial instrument for minimizing conflicts with...
Persistent link: https://www.econbiz.de/10012709653
We analyze the performance of a large sample of SR stocks relative to a control sample of equivalent size for 14 years …. We find that individual SR stocks have on average significantly lower returns and unconditional variance than control … return) mean and variance of the buy-and-hold strategies on the SR portfolio with respect to those on the control portfolio …
Persistent link: https://www.econbiz.de/10012709785
Analyzing 153 venture-backed and non-venture-backed companies that went public in Italy between 1995 and 2004, we tested two hypotheses about the role of venture capital in developing innovations within firms. The first concerns the relevance of innovation and whether it is present when venture...
Persistent link: https://www.econbiz.de/10012709827