The purpose of this study is to evaluate agricultural producer response to opportunities to generate nutrient credits under Virginia’s water quality trading program. In 2005 the Virginia legislature passed legislation authorizing trade of nutrient reduction credits from nonpoint to...

Conservation agriculture has many potential benefits for small farmers. This study seeks to estimate the value that farmers in eastern Uganda place on some these benefits. Data from a choice experiment study are analyzed with a mixed logit model to determine farmers’ willingness to pay for...

This study examines how key market participants — managers and analysts — responded to SFAS 123R's controversial requirement that firms recognize stock-based compensation expense. Despite mandated recognition of the expense, some firms' managers exclude it from pro forma earnings and some...

Newly public companies tend to exhibit abnormally high accruals in the year of their initial public offering (IPO). Although the prevailing view in the literature is that these accruals are caused by opportunistic misreporting, we show that these accruals do not appear to benefit managers and...

We analyze the trading of corporate insiders at leading financial institutions during the 2007 to 2009 financial crisis. We find strong evidence of a relation between political connections and informed trading during the period in which TARP funds were disbursed, and that the relation is most...

On December 5th and 6th 2014, the Stanford Graduate School of Business hosted the Causality in the Social Sciences Conference. The conference brought together several distinguished speakers from philosophy, economics, finance, accounting and marketing with the bold mission of debating scientific...

This paper investigates the market reaction to recent legislative and regulatory actions pertaining to corporate governance. The managerial power view of governance suggests that executive pay, the existing process of proxy access, and various governance provisions (e.g., staggered boards and...