Organizational Capital Budgeting Model (OCBM) is a general theory of capital budgeting that incorporates traditional capital budgeting theories and the consideration about firm's information/ organization structure. The traditional financial capital budgeting model is a special case of OCBM....

We investigate the idea that firms' choices of M&A evaluation methods are influenced by two socio-political factors that arise in the behavioral theory of the firm-uncertainty and controversy. In doing so, we investigate boundary conditions between arguments that expect firms to use financial...

This study examines the relationship between ownership structure and stock price informativeness in a transitional economy characterized by an underdeveloped corporate governance system. Using a sample of 322 publicly listed companies in Vietnam covering a 10-year period from 2009 to 2018, we...

Research concerning diversification and specialization of venture capital funds typically does not consider how a VC's effort might influence performance of different portfolios. We develop a model that analyzes VC effort when there is the potential for cross-sectional and/or serial knowledge...

Using the data obtained from a theme park, this study assesses the effect of rain on the behavior of theme park visitors. The study proposes a new method for identifying the effects of weather by modeling theme park consumer behavior based on a two-stage decision-making process: In the first...

Board quality is likely to have an important influence on CEO compensation. However, there has been little investigation in the literature. We examine the relationship between the quality of boards, pay and pay allocation (incentive versus fixed, CEO versus executives below CEO) of executive...

Can textual analysis improve statistical prediction of risky geopolitical events? North Korea has been the most important source of geopolitical risk for South Korea due to the former's unpredictable and secretive military actions against the latter. We find that the tone of English language...

Institutional sponsors increasingly seek outside help in investment management by delegating manager selection and capital allocation decisions to external lead managers. Whether this enhances performance, however, is yet to be examined. We fill the gap using a unique dataset of Korean...

We contribute to the emerging literature on strategic corporate social responsibility (CSR) and its antecedents by undertaking a systematic analysis of the effect of rivalry on firm and industry CSR. We deal with the codetermination of competition and CSR by using instrumental variables in the...

This paper investigates judicial size premium, the judicial bias in favor of large economic organizations. The Korean judiciary is biased with regard to chaebols (large family business groups). Convicted chaebol-related defendants receive 9.9%p more jail-sentence suspension and 19 month shorter...