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This paper exploits the recent rise in corporate venture capitalists (CVC) to examine the effect of shareholders … information about the CVC. Taken together, this study offers new insights on how a previously unexplored factor—large shareholders …
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governance quality. We show that when only earnings are disclosed, shareholders intervene in firms with intermediate performance … are jointly disclosed with earnings, shareholders target intermediately and well-performing firms with a high pay …
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We use a natural experiment to weigh conflicting theories on the causal impact of shareholder litigation threat on the readability of corporate financial disclosures. In response to a 1999 Ninth Circuit Court of Appeals ruling that caused an unexpected reduction in litigation risk, we find that...
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Using the staggered adoption of universal demand (UD) laws in the United States, we study the effect of shareholder litigation risk on corporate disclosure. We find that disclosure significantly increases after UD laws make it more difficult to file derivative lawsuits. Specifically, firms issue...
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In this study, we investigate whether and to what extent institutional shareholders' political values influence their … find that firms led by institutional shareholders with a more Republican-oriented political ideology are less likely to … issue environmental reports. Such a negative effect is more pronounced for firms with institutional shareholders with long …
Persistent link: https://www.econbiz.de/10012826094
Using the staggered adoption of universal demand (UD) laws in the United States, we study the effect of shareholder litigation risk on corporate disclosure. We find that disclosure significantly increases after UD laws make it more difficult to file derivative lawsuits. Specifically, firms issue...
Persistent link: https://www.econbiz.de/10012898618