We study the GDPR's opt-in requirement in a model with a firm that provides a digital service and consumers who are heterogeneous in their valuations of the firm's service as well as the privacy costs incurred when sharing personal data with the firm. We show that the GDPR boosts demand for the...

This paper studies the relation between managerial power, the manager's compensation contract, and firm performance when the manager's contract comprises a stock-based pay and a fixed salary. When there is no cap on the manager's salary, the size of the manager's stock-based compensation is the...

This paper studies the empirical relation between corporate social responsibility (CSR) and corporate financial performance in Korea using a sample of 1222 firm-years during 2002-2008. We measure corporate social responsibility by both an equal-weighted CSR index and a stakeholder-weighted CSR...