We examine the relationship between collective country reputations and foreign stock returns following news of corporate scandals. We find that investors punish not only the scandalous foreign firm but also other firms from the same country of origin, especially those coming from more...

There is an extensive literature showing that R&D intensities and increases are positively related to firm performance, but there is little research on the valuation of R&D reductions. This paper contributes to the literature by examining the long-term performance following significant R&D...