This article investigates the moderating effect of political affinity between countries on investors' reactions to the premium in cross‐border acquisitions (CBAs). Based on a sample of 1,183 CBAs between 1999 and 2018, we find that political affinity positively moderates the relationship...

We investigate the role of gender on the aggressiveness of sell-side analysts’ questions during earnings conference calls. Our tests reveal that the verbal aggressiveness of analysts’ questions is significantly associated with both the gender of the analyst asking the question and the gender...

This study develops a corporate social responsibility (CSR) measure for abnormal CSR. Based on a microeconomic framework, we argue and show that firm-level variables determine a firm-specific, normal (expected) level of CSR performance, where the marginal costs of CSR equal its marginal...

We show that CEOs' contribution to SG&A cost asymmetry is associated with lower shareholder value. CEO-related excess SG&A cost stickiness of CEOs with compensation less tied to shareholder value creation and high power drive this association. Last, we provide first evidence that cost asymmetry...