We aggregate different dimensions of corporate social responsibility (CSR) activities following the stakeholder framework proposed in Clarkson (1995) and present consistent evidence that CSR strengths targeting different stakeholders have their unique impact on firm risk and financial...

This study investigates the time series behavior of real estate company net asset value discount/premium (NAVDISC) in eight Asian-Pacific securitized real estate markets from 1995 to 2003. We postulate that if there is a stable NAVDISC for real estate companies in the long-run, then there should...

Economic uncertainty disrupts firms' ability to create value. Most related literature examines how various organizational characteristics affect value under extreme conditions – the global financial crisis. However, recent work in quantifying economic uncertainty now makes it possible to take...

This paper analyzes the status of public debt management performance in 17 small states through the findings of the Debt Management Performance Assessment reports. Empirical evidence indicates that the higher the quality of a country's policies and institutions, the better is its capacity to...

This paper investigates the impact of the ownership by institutional investors who are geographically close (local) and have long-term investment horizons (long-term) on corporate social responsibility (CSR) activities. Using a panel data of S&P 500 firms over the period between 1995 and 2009,...

Multi-national corporations (wrongly) introduce new products in China rather late. Such a strategy arises because research treats all of China as one monolithic country, thus, finding that takeoff occurs quite late. However, for large or multi-ethnic countries, intra-country diversity may be...

We provide new evidence that highlights the effect of geographic proximity on the role institutional investors play by showing that, while bank trusts are passive with distant firms, they are non-passive with local firms and reduce their risk-taking. We find that concentrated local bank trust...

In this article, we propose that giving in cash and non-cash (in-kind) differ in their relation with the giving firm's future corporate financial performance (CFP) and only cash giving is associated with future CFP. Using a novel dataset from ASSET4 that differentiate corporate giving over a...

This study addresses the debate over the relation between institutional ownership and dividend payout through the lens of the agency theory. We hypothesize that only institutional investors with certain traits are likely to monitor and conditioning on firms' financial performance, they will use...

We estimate a model of service choice and price competition in airline markets, allowing for the carriers that provide nonstop service to be a selected subset of the carriers competing in the market. Our model can be estimated without an excessive computational burden and we use the estimated...