This study examines the impact of institutions and culture on stock market reactions to divestment announcements. We posit that divestment announcements in countries with stronger shareholder protection generate higher positive returns than divestments in countries with weaker shareholder...

In this chapter, we present a descriptive analysis of executive compensation in U.S. banks over the period 1992-2018. Specifically, using detailed data on the compensation of the Chief Executive Officers (CEOs) of the S&P 1500 banks, we examine the development trends in the level and structure...

This paper examines the hypothesis that religious firms are more socially responsible. By utilizing a novel measure of religiosity that reflects firm-level adherence to Christian values, we find that religiousness is positively associated with the CSR engagement of large U.S. firms after...

This paper examines the effects of board co-option on corporate social responsibility. Using a sample of U.S. firms over the period 2000-2018, we find that corporate social responsibility is adversely influenced by co-opted directors. Specifically, our results indicate that board co-option is...

This paper examines whether corporate environmental responsibility is influenced by regional differences in climate change denial. While there is an overwhelming consensus among scientists that climate change is happening, recent surveys still indicate widespread climate change denial across...

This paper focuses on the cross-dynamics of exchange rate expectations over different time-scales. We use over-the-counter currency options on the euro, Japanese yen, and British pound vis-à-vis the U.S. dollar to extract expected probability density functions of future exchange rates, and...