The study aims to evaluate the impact of board traits on the organizations' dividend pay-outratio. For the purpose, quantitative research approach was being utilized. The data of non-financial companies, listed on Pakistan Stock Exchange, was scrutinized over a period of seven years, 2012-2019....

Unlike previous studies that focus on accrual-based earnings management, this study analyzes real activities manipulation and investigates whether female directors on boards of directors (BoDs) affect managers’ real activities manipulation. Using a large sample of 11,831 firm-year observations...

We empirically examine the influence of CEOs on corporate financial policy. We focus our analysis on significant changes in financial policy by focusing on firms that change their debt policy from zero leverage to positive leverage or from positive leverage to zero leverage at least once during...

This Article reports results of an empirical study that suggests that the current economic crisis has changed managerial behavior in the US in a way that may impede economic recovery. The study finds a strong, statistically significant and economically meaningful, positive correlation between...

This study examines determinants of chairman compensation in a supervisory board setting and, specifically, the relationship between chairman and CEO compensation. Using a sample of publicly listed firms in Sweden, the study indicates that chairman compensation – despite its fixed nature –...

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 explore the effect of board independence on CSR investments during a stressful time, i.e. during the Great Recession. Our results show that independent directors exhibit an unfavorable view of CSR investments during the crisis. Stronger board independence leads to a significant reduction in...

Using a novel text-based measure of top management team diversity, covering over 70,000 top executives in over 6,500 U.S. firms from 1999 to 2014, we show that analyst forecasts are systematically more pessimistic for firms with more diverse top management teams ("diverse firms"), especially for...

We examine how firms adjust CEO risk-taking incentives in response to risk environments as-sociated with their corporate social responsibility (CSR) standing. We find strong evidence that as a firm's CSR status improves (declines), increasing (decreasing) its risk-taking capacity, the firm...