Showing 1 - 10 of 1,072
We conduct a large-scale global study of ESG-linked pay for major firms that make up 85% of the market capitalization across 59 countries. We find that the pay adoption is higher for firms in extractive and utility industries, in countries that value individualism and femininity, have stronger...
Persistent link: https://www.econbiz.de/10014355440
We study the relationship between employee satisfaction and stock returns across 30 countries. Employee satisfaction is associated with superior long-run returns in flexible labor markets, such as the US and UK, but not rigid labor markets, such as Germany. Similar results hold for current...
Persistent link: https://www.econbiz.de/10012856632
This paper studies the effect of labor protection on the relation between employee satisfaction and firm capital structure across 32 countries. The stakeholder theory of capital structure states that firms whose values are derived largely from their human capital tend to maintain a lower debt...
Persistent link: https://www.econbiz.de/10013404241
Rebuilding state legitimacy is a thorny challenge in the aftermath of civil wars. The international community has … security affects citizens' trust towards formal institutions-that is, government and police. The empirical analysis focuses on … legitimacy of the institutions they are expected to assist. …
Persistent link: https://www.econbiz.de/10013469695
This paper studies the concept of an international economic order, i.e. an institutional arrangement of international rules. Such rules emerge from negative experiences – historical disasters – that inflict severe hardship on people. A taxonomy for rules reducing transaction costs is...
Persistent link: https://www.econbiz.de/10010272981
This paper analyzes how international rules are established and stabilized, i.e. how an international institutional order develops. Rules emerge mainly through learning from negative experience and serve to reduce transaction costs. The paper looks at mechanisms that stabilize rule systems, at...
Persistent link: https://www.econbiz.de/10010273096
I will address eight common claims about bitcoin: 1. Physical bitcoins exist; 2. The founder of bitcoin is a person called Satoshi Nakamoto; 3. Bitcoin is mainly used for criminal activity; 4. A lack of security plagues bitcoin; 5. Mining is a waste of energy; 6. Bitcoin too small today to be an...
Persistent link: https://www.econbiz.de/10012972898
Persistent link: https://www.econbiz.de/10013153033
The liberal international legal order faces a legitimacy crisis today that becomes visible with the recent anti …-internationalist turn, the rise of populism and the recent Russian invasion of Ukraine. Either its authority or legitimacy has been tested … of international law’s legitimacy crisis, the article uncovers the paradox of global constitutionalism: that its need to …
Persistent link: https://www.econbiz.de/10014346785
awards as well as the legitimacy of the system as a whole. However, establishing an appellate mechanism in the investment …
Persistent link: https://www.econbiz.de/10014160648