Using Barney's (2018) stakeholder perspective of resource-based theory (SRBT), we arguethat bondholders represent the ultimate fixed claimants who value corporate socialresponsibility (CSR) in relation to the firms' risk. Bondholders' returns and the stakeholders'interests are aligned when firms...

This study examines the relation between corporate social responsibility (CSR) and institutional investor ownership, and the impact of this relation on stock return volatility. We find that institutional ownership does not strictly increase or decrease in CSR; rather, institutional ownership is...

This study examines the relation between corporate social responsibility (CSR) and institutional investor ownership, and the impact of this relation on stock return volatility. We find that institutional ownership does not strictly increase or decrease in CSR; rather, institutional ownership is...

This study examines the impact of gender and ethnicity of CEO and audit committee directors on audit fees and audit delay in the U.S. firms. Audit related corporate governance literature has extensively examined the determinants of audit fees and audit delay by focusing on board characteristics,...

We set out to understand the size of DLOMs by comparing the subject of the discounts, privately held companies, to the bases from which discounts should be applied. These relevant bases include publicly traded firms considered as guideline public companies and public market benchmarks from which...

Drawing from social capital, social network theory of stakeholder influence, and stakeholder management, this study examines the relationship between board network centrality and firms' environmental, social and governance (ESG) performance. Using social network analysis, we construct five board...

This study examines the market reaction to conflicts that arise when analyst forecast errors are positive (negative) and whisper forecast errors are negative (positive). Results from a subsample, which represents firms with actual EPS that meet/beat the analyst forecast but not whisper, and...

We study whether investment banks, which began to originate syndicated loans in 1996, price debt claims differently than commercial banks. Differences between the two institution types in funding access, regulation, accounting rules, scope economies, and the relevance of relationships could...