This paper not only recommends means whereby principal-agent problems could be addressed, but also considers various ways in which the external auditor and audit committees contribute as corporate governance tools. The impact of bank regulations on risk taking and the need for a consideration of...

Der Beitrag beschreibt die Konzeption von BI als integrierten Gesamtansatz, veranschaulicht das Potenzial für eine innovative Nutzung von Informationen zur Erreichung von Wettbewerbsvorteilen und gibt einen Überblick über ausgewählte zukünftige Entwicklungen und Trends.

We examine the impact of corporate risk-taking on firm-level real earnings management. We find that firms with higher risk-taking engage in higher real earnings management. Our results are robust to a series of robustness tests, including simultaneous least squares approach, firm fixed effect,...

Eine verantwortungsvolle Corporate Governance soll dazu beitragen, dass einerseits das Energieunternehmen und andererseits der wesentliche Gesellschafter, die Kommune, bei der Erfüllung ihrer Ziele unterstützt werden. Wie jeder private Anteilseigner strebt die politische Führung einer Kommune...

Using newly-available materiality classifications of sustainability topics, we develop a novel dataset by hand-mapping sustainability investments classified as material for each industry into firm-specific sustainability ratings. This allows us to present new evidence on the value implications...

A long-standing ideology in business education has been that a corporation is run for the sole interest of its shareholders. I present an alternative view where increasing concentration of economic activity and power in the world's largest corporations, the Global 1000, has opened the way for...

Setting targets and providing monetary incentives are two widely used motivating tools to achieve desirable organizational outcomes. We focus on reduction of carbon emissions as a setting in which to examine how target difficulty and monetary incentives provided to managers affect the degree of...

The primary role of equity compensation is to provide incentives to an effort-averse agent. Here, we show that the chosen level of equity incentives, when publicly disclosed, will also convey information about future earnings, causing two-way linkages between incentive compensation and financial...

This paper examines how financial reporting regulations affect, and respond to, macroeconomic cycles by exploring a positive framework in which regulators subject to political pressures respond to cyclical demands by borrowers and lenders. We establish that, as economic conditions initially...

This study examines the determinants of farm loan delinquencies, and in particular, the influence of multiple loans and multiple lenders on delinquency. The number of lenders used by a borrower, the number of loans outstanding, and the interaction of the two factors are all positively related to...