Using an event study, we examine whether the stock market considers corporate lobbying to be a value-enhancing investment. On January 3, 2006, lobbyist...
Many investors and governance experts believe that “skin in the game” of managers, i.e. substantial stock and option ownership of top management,...Read more
In the absence of agency conflict and market frictions, it is beneficial to allow greater freedom to firms in their choice of corporate financial...Read more
Throughout history, economic activities have been fundamentally shaped by ideology. Scholars usually consider ideology as a set of ethical ideas,...Read more
Two laboratory experiments show that investors perceive a CEO to be more committed to honesty when the CEO resisted, at a personal cost, engaging...Read more