Stakeholders

Working Paper

30 November 2019

Growing Up Under Mao and Deng: On the Ideological Determinants of Corporate Policies

Historically, economic activities have been organized around certain ideologies. We investigate the impact of politicians’ ideology on corporate policies by exploring a unique setting of ideological change—China from Mao to...

Hao Liang | Rong Wang | Haikun Zhu
23 March 2018

International Evidence on Firm Level Decisions in Response to the Crisis: Shareholders vs. Other Stakeholders

The relationship between changes in GDP and unemployment during the 2008 financial crisis differed significantly from previous experiences and across countries. We study firm-level decisions in France, Germany, Japan, the UK, and...

Franklin Allen | Elena Carletti | Yaniv Grinstein
22 February 2020

Do Short-Term Incentives Affect Long-Term Productivity?

Previous research shows that incentives to increase earnings-per-share cause firm to increase stock repurchases and reduce investment and employment. It is natural to expect firms to cut less productive investment and employment...

Heitor Almeida | Nuri Ersahin | Vyacheslav Fos | Rustom Irani | Mathias Kronlund
06 March 2020

Can Stakeholder Orientation Improve Inventory Efficiency? Evidence from a Quasi-Natural Experiment

This study investigates whether and how firms’ stakeholder orientation affects their inventory efficiency as well as financial performance. Using U.S. state legislatures’ staggered adoption of constituency statutes over a...

Yunxiao Liu | Woochan Kim

Pages