We develop a firm-specific measure of organization capital and estimate it for a sample of approximately 250 companies. We test the validity of the organization capital measure within a widely used investment valuation model and show that our organization capital estimate contributes...

Over the last decade, U.S. firms have used their large cash holdings to buyback shares and pay dividends, instead of investing in R&D activities that can spur future growth. One possible reason for this behavior is that R&D activities — yielding new products and services or cost reductions —...

We develop a firm-specific measure of organization capital and estimate it for a sample of approximately 250 companies. We test the validity of the organization capital measure within a widely used investment valuation model and show that our organization capital estimate contributes...

We investigate the effect of the career concerns of young CEOs and of female CEOs on their willingness to issue voluntary earnings forecasts. We argue that the labor market's perception about a young CEO's uncertain talent leads to a stronger desire to establish a good reputation by issuing more...

Customer referencing refers to the phenomenon whereby a firm discloses its connections with reputable customers in order to improve its own reputation. Consistent with this disclosure increasing investor attention and providing customer certification, we find that supplier firms enjoy a lower...