Applying the modern Property Rights Approach to depict employment and firm-internal delegation relationships, this paper addresses the question how to prevent corporate bribery. The analysis and the answers that follow take into account interaction effects between firm-internal delegation...

Several investigations came to the conclusion that, considering in retrospect, most Mergers & Acquisitions were not successful. Differences in the corporate cultures are often quoted as being responsible for the failures. So, the question arises how such failures can be prevented in future....

Based on arguments about long-term orientation and corporate reputation, we argue that family and founder firms differ from other firms with regard to corporate social responsibility. Using Bayesian analysis, we then show that family and founder ownership are associated with a lower level of...

The present paper proposes a new way of thinking regarding the relation between innovation and knowledge using a Physics-borrowed model, trying to prove whether knowledge resources can "flow" (be percolated) in a network or a grid, in order to be transformed in technological innovation. In the...

The authority to make decisions is often bundled with accountability. Decision makers are often made accountable for failures. We propose an incomplete-contract approach to investigate four systems of accountability: no accountability, personal accountability, collective accountability, and...

Management scholars are beginning to provide empirical evidence that organization identity (OI) can be a powerful means of reducing agency costs. We examine whether an individual's identity with the firm influences the agency costs associated with incentive contracts, namely earnings...

Talmudic stories are a method used by the ancient sages to teach us about ethics and morality. The stories in this paper deal with penitent (baalei teshuva) who returned to God. It is clear from these stories that it is vital for people to help others repent. One great sage even offered his...

Corporate sustainability has become an economic and strategic imperative with the potential to create opportunities and risks for businesses. The tension and possible link between economic sustainability performance (ESP) and non-financial environmental, social, and governance (ESG)...

We investigate the predictive power of corporate social culture, as measured by corporate social responsibility (CSR) intensity, on shareholder wealth when mergers and acquisitions (M&As) are carried out by managers with different traits. We find acquiring firms with talented managers are more...

We use firms’ discretionary choices in the CEO pay ratio disclosure to examine corporate decisions under social pressure. Reported pay ratios are significantly lower when firms use complex methods to identify the median employee, whose total pay is the denominator in the ratio. Firms choose...