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We examine the effect of audit committee social diversity on financial reporting quality, as measured through gender, age, and/or ethnic diversity. Considering these dimensions simultaneously, we find that only ethnic diversity is associated with a lower likelihood of financial statement...
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This study explores the impact of societal trust on the economic behavior of nonprofit organizations. Although prior studies reveal that trust has a positive impact on the economic behavior of for-profit firms, the institutional differences between the two organization types make it unclear...
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Through close interactions with their CEO and CFO, independent directors as well as subordinate executives can assess the overconfidence of their CEO and CFO. We show that independent directors and subordinate executives trade on this assessment, albeit differently. Independent directors of a...
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We test the relationship between takeover protection and voluntary disclosure in a setting of antitakeover laws in a firm's state of incorporation. After correcting for the endogeneity of firms' incorporation choice, we find that firms incorporated in states with more antitakeover laws have...
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The literature suggests that staggered boards may have two opposite effects on earnings management: the expropriation view emphasizes the exacerbating effect, whereas the quiet life view advocates the mitigating effect. We use two approaches to examine this issue: a small-sample test based on...
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