In the context of the knowledge-based economy, the company is interested in the intrinsic value of the company, of its added value, on the development perspectives of how they can be met expectations of the interested: shareholders, employees, creditors, suppliers, customers, community, society,...

The quest of this research paper is to look into the association between corporate ownership structure variables and corporate social responsibility disclosure (CSRD). Seventy annual reports for the year 2010 of non financial companies with listed Dhaka Stock Exchange in Bangladesh have been...

This study explores a nested representation of ethical, moral, social identity, motivated, opportunistic and reciprocal agent preferences to characterize screening contracts in a principal–agent model under adverse selection. This leads to a ranking of the type of social preferences that...

Golden parachutes (GPs) have attracted substantial attention from investors and public officials for more than two decades. We find that GPs are associated with higher expected acquisition premiums and that this association is at least partly due to the effect of GPs on executive incentives....

We show that public companies frequently changed their board structures before implementation of the Sarbanes–Oxley Act, with two-thirds of firms changing board size or independence during an average two-year period. Board changes were associated with changes in firm-specific fundamentals, but...

In the corporate finance tradition starting with Berle & Means (1923), corporations should generally be run so as to maximize shareholder value. The agency view of corporate social responsibility (CSR) generally considers CSR as a managerial agency problem and a waste of corporate resources,...

In the corporate finance tradition starting with Berle & Means (1923), corporations should generally be run so as to maximize shareholder value. The agency view of corporate social responsibility (CSR) generally considers CSR as a managerial agency problem and a waste of corporate resources,...

Using a unique data set, I study how stock markets react to positive and negative events concerned with a firm׳s corporate social responsibility (CSR). I show that investors respond strongly negatively to negative events and weakly negatively to positive events. I then show that investors do...

Romanian companies were privatized listed in the table, forming a highly dispersed ownership, free of activism in managing companies and the emergence of a powerful group of majority shareholders. These companies are controlled by managers and employees or shareholders at the expense of minority...

A detailed analysis of 49 firms subject to AAERs suggests that approximately one-quarter of the misstatements meet the legal standards of intent. In the remaining three quarters, the initial misstatement reflects an optimistic bias that is not necessarily intentional. Because of the bias,...