A poor ethical culture has been considered one of the reasons for the emergence of many corporate governance scandals. In this paper, I investigate the link between two corporate governance mechanisms – the composition of the board of directors and ownership structure – and ethical culture...

This paper examines the role of corporate culture for mergers and acquisitions. To quantify corporate culture, I run a textual analysis of the language used in CEOs' annual letters. This analysis categorizes firms into three different corporate cultures: collaborative, innovative, and...

We investigate the predictive power of corporate social culture, as measured by corporate social responsibility (CSR) intensity, on shareholder wealth when mergers and acquisitions (M&As) are carried out by managers with different traits. We find acquiring firms with talented managers are more...

This study examines whether the corporate cultural similarity between a target and an acquiring firm influences the acquiring managers' decision to abandon a corporate acquisition attempt conditional on the acquiring firm's stock price reaction at the announcement of the deal. We find that...

We examine the impact of CEOs’ ethnic cultural identity (ECI) on cross-border acquisitions. Regardless of the immigration time of CEOs’ ancestors to the US, acquirers are more likely to bid for a target in their CEOs’ ancestry country of origin. The CEO ECI does not significantly affect...

Capitalizing on a distinctive measure of corporate culture obtained from sophisticated machine learning, we investigate the concept of cultural diversification. A firm is culturally diversified if it is characterized by a variety of diverse cultural attributes. Motivated by agency theory, we...

Today there are any number of research articles and books for executives that reflect on the importance of culture within companies. However, there are not so many that focus on how this culture affects the process when an executive is starting a new job. Experience tells us that trying to...

Companies that are going to thrive must have a soul. Those that are only concerned with “maximizing shareholder wealth” or “maximizing profit” will find themselves going the way Enron went. CEOs will have to lead the revolution and should be the ones exhorting executives to make...

This study examines how globalization of corporate governance practices influence the risk of European CEOs being dismissed. We argue that the harsh monitoring of the American corporate governance system spills over to the rest of the world as a result of this globalization. We focus on direct...

We analyze the effect of CEO food culture on corporate innovation using a sample of Chinese listed firms from 2000 to 2016. We extend benign masochism and behavioral consistency theories to determine that a CEO with Szechuan cuisine food culture is positively associated with corporate...