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Does ownership concentration affect corporate environmental responsibility engagement? : the mediating role of corporate leverage

Chen, Shuanglian; Wang, Yan; Albitar, Khaldoon; Huang, … - In: Borsa Istanbul Review 21 (2021), pp. S13-S24

This paper examines the effect of ownership concentration on engagement in corporate environmental responsibility (CER) in time and spatial dimensions. The time dimension focuses on the macroeconomic environment, in particular, periods of rapid and moderate-speed economic growth. The spatial...

Persistent link: https://www.econbiz.de/10012817184

Hacking corporate reputations

Akey, Pat; Lewellen, Stefan; Liskovich, Inessa - 2018

We exploit unexpected corporate data breaches to study how firms respond to negative reputation events. Data breaches negatively affect firm profitability, value, and reputation for years following the event, but are not triggered by high or low reputations. In response, firms increase their...

Persistent link: https://www.econbiz.de/10011897968

Consistent Valuation Cash Flow

Yaari, Uzi; Nikiforov, Andrei; Kahya, Emel; … - Department of Economics, University of Pennsylvania - 2012

This paper seeks to draw attention to a flaw in the firm’s Free Cash Flow model and related statement widely accepted in Corporate Finance. We argue that the common offset of any Current Liabilities against Current Assets distorts the FCF size, composition, and volatility, thereby misstating...

Persistent link: https://www.econbiz.de/10010544669

Finance Methodology of Free Cash Flow

Yaari, Uzi - 2016

Free Cash Flow (FCF) was adopted in the late 1980s as a financial tool to evaluate the firm and its individual projects. We question the procedure of calculating the FCF where a significant portion of Current Liabilities is offset against Current Assets, thereby creating the hybrid asset Net...

Persistent link: https://www.econbiz.de/10012996576

The Enron Scandal (Slides)

Hodak, Marc - 2009

Enron's collapse is generally viewed as a morality tale - the natural result of managerial greed, a clueless board, and feckless gatekeepers. But none of these aspects of the story clearly distinguishes Enron from other major firms during the bubble era of the late 90s. This material identifies...

Persistent link: https://www.econbiz.de/10014050120

Valuation Implications of Mandatory CSR Expenditure in India

Bose, Sudipta; Clarkson, Peter; Richardson, Gordon D. - 2023

We examine the value relevance of CSR expenditure utilizing the Indian setting of mandatory CSR spending regulation which commenced in 2014. India is the only country where regulators mandate both CSR reporting and spending. Our interest is in two types of firms that meet the minimum specified...

Persistent link: https://www.econbiz.de/10014355186

Human-environment-health and reinforcement of individual resilience

Sornette, Didier; Cauwels, Peter; Mearns, Euan; Wu, Ke - 2020

The ongoing SARS-CoV-2 pandemic is stressing the world population, health care system and economies at a level not experienced since WWII or the last “Spanish flu” pandemic of 1918. This shock provides a real-life test of the resilience of human societies, challenging our understanding and...

Persistent link: https://www.econbiz.de/10012219166

Executive compensation and environmental harm

Minor, Dylan - 2016

We explore the relationship between managerial incentives and environmental harm. We find that high-powered executive compensation packages can increase the odds of environmental law-breaking by 40-60% and the magnitude of environmental harm by over 100%. We document similar results for the...

Persistent link: https://www.econbiz.de/10011557330

To Treat or Prevent Pollution?

Gentet-Raskopf, Caroline - 2022

This paper investigates the effect of financial constraints on pollution abatement methods. Using unique plant … discourage pollution prevention and have no impact on pollution treatment without environmental laws. First, financially … constrained firms are less likely to invest in pollution prevention but not in pollution treatment. Second, by applying a …

Persistent link: https://www.econbiz.de/10014235697

The environmental performance of firms and the probability of environmental events

Champagne, Claudia; Chrétien, Samuel; Coggins, Frank; … - In: Sustainable Finance and Financial Crime, (pp. 83-105). 2023

Persistent link: https://www.econbiz.de/10014319437