We show that social capital improves the viability of stakeholder-oriented firms operating in competitive markets. Studying exits from the population of Norwegian savings banks after deregulations, we find that banks located in communities with high social capital have a higher probability of...

This study explores the impact of societal trust on the economic behavior of nonprofit organizations. Although prior studies reveal that trust has a positive impact on the economic behavior of for-profit firms, the institutional differences between the two organization types make it unclear...

We investigate whether the levels of social capital in U.S. counties, as captured by strength of civic norms and density of social networks in the counties, are systematically related to tax avoidance activities of corporations with headquarters located in the counties. We find strong negative...

Chief Executive Officers (CEO) are increasingly using social media to disclose information and communicate with investors. Although findings from archival research show some benefits to social media use at the aggregate level, little is known about how the social nature of this disclosure...

We investigate whether the levels of social capital in US counties, as captured by strength of civic norms and density of social networks in the counties, are systematically related to tax avoidance activities of corporations with headquarters located in the counties. We find strong negative...

Although India has made great strides in economic growth but despite that there exist huge inequality gap in society and people are still devoid of basic amenities. The benefits of growth post liberalization has been only limited to rich and middle class in India. Over 60% of the Indian...

We examine the association between societal trust and the levels of CEO compensation and the proportion of equity-based compensation of 897 firm-years from 18 countries over the 2007- 2013 period. We find both the levels of CEO compensation as well as the proportion of equity based compensation...

Equity investors value CEO social capital when pricing firm equity. When CEO social capital is high, the value relevance of the book value of equity declines whereas the value relevance of earnings measures increases. Results are stronger for firms in high-tech industries where information...

Utilizing a hand-collected sample of non-GAAP earnings disclosures from 2003-2016, we investigate the relationship between social capital/network connections of Chief Executive Officer (CEOs) and both their propensity to disclose non-GAAP earnings metrics as well as the quality of the...

This paper investigates whether changes in Generally Accepted Accounting Principles (GAAP) affect corporate investment decisions. Using a sample containing forty nine changes in GAAP, I find that changes in accounting rules affect investment decisions. I then examine two mechanisms through which...