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We investigate 589 production suspension announcements during from 2000 to 2015 in Korea to identify determinants of production suspension, event, operating and financial characteristics. We find that restructuring announcements have negative impact on stock returns while other reasons such as...
Persistent link: https://www.econbiz.de/10013003929
This study presents a model in which firms invest in research and development (R&D) to generate innovations that increase their underlying profitability and invest in physical capital to produce output. Estimating the model using a method of moments approach reveals that R&D expenditures...
Persistent link: https://www.econbiz.de/10011757741
Following state-level legal changes that increase labor dismissal costs, firms increase their innovation in new … costs in total costs. Firms with high innovation ability exhibit larger increases in process innovation and capital … conditions in input markets change, innovation ability is a key driver of firm performance …
Persistent link: https://www.econbiz.de/10012851726
innovation capital. We propose a methodology to measure intellectual capital and we analyze how intellectual capital influences …
Persistent link: https://www.econbiz.de/10012929162
According to several extended behavioral theories, value profits should mirror momentum profits, and vary over time. We test these theories in the cross section of returns. Value returns depend on market states. From 1926 to 2018, following negative market return, the average so-called value...
Persistent link: https://www.econbiz.de/10012867491
CEO emotions are difficult to measure and hence empirically understudied. However, using artificial emotional intelligence, positive and negative affects can be identified from facial muscle contraction-relaxation patterns obtained from public CEO photos during initial coin offerings (ICOs),...
Persistent link: https://www.econbiz.de/10012850559
. The return predictability of examiner busyness increases in firms' innovation intensity, product market threats, and …
Persistent link: https://www.econbiz.de/10012852712
Investors have preferences for local companies, as well as companies in connected cities. We develop a novel approach to exploit the geographic connections of investor watched stocks to identify latent city-to-city connections that influence geographic investment preferences in China. We find...
Persistent link: https://www.econbiz.de/10013252155
This study examines the effect of senior executives’ academic career experience on corporate social responsibility (CSR) and further investigates how such CSR engagement dominated by academic senior executives affects firm value. Using data from China, this study reveals that firms run by...
Persistent link: https://www.econbiz.de/10013404020
In this paper, I define employee morale as employees’ attitudes toward and perceptions of the tasks employees have in the companies they work for and various firm dynamics. I explore how employee morale affects merger probability, post-merger value, performance, integration, and merged firm...
Persistent link: https://www.econbiz.de/10014345222