Many companies spend substantial resources in order to be viewed as socially responsible. We argue that one reason firms do this is to create a warm glow about the firm and thereby affect employee behavior and improve performance. This proposition is tested with an incomplete contract...

We use hand-collected board data around the issuance of two distinct government-led board structure mandates in the U.K. to establish the effect of outside directors on acquirer performance. Increases in outside director representation are associated with better acquirer returns in deals...