Market manipulation are deliberate actions that affect trading activity and corporate policies. We conjecture that market manipulation has unintended consequences also for the ESG policies of the firm. Based on an international sample of monthly data from 2007 to 2018, the data indicate that the...

End-of-day stock price manipulation is generally associated with short-termism, long-term damage to equity values, and reduced incentives for employees to innovate. We use a sample of suspected stock price manipulation events based on intraday data for stocks from nine countries over eight...

In this paper, we investigate the association between venture capital (VC) backing and internal control quality, as well as the effect of VC backing on the informativeness of material weaknesses in internal control disclosures. We find that VC-backed companies have stronger internal control...

Based on M&As from over 45 countries from 2003-2014, we show that the presence of end-of-day (EOD) target price manipulation prior to M&As increases the probability of an M&A deal withdrawal, and decreases the premium paid. More detailed exchange trading rules that govern manipulation across...

Going private transactions are often highly leveraged, and give rise to potential agency conflicts among existing shareholders. But who exactly are those shareholders, and under what legal conditions are these transaction more likely to occur? We examine ownership structure prior to going...

We study the effect of public-to-private buyout transactions on investments in innovation using an international sample over the 1997-2017 period. We use patent counts and citations to proxy for the quantity, quality, and economic importance of innovation. Our results are based on time analysis...

Firm managers make ethical decisions regarding the form and quality of disclosure. Disclosure can have long-term implications for performance, earnings manipulation, and even fraud. We investigate the impact of venture capital (VC) backing on the quality and informativeness of disclosure...