Prior research provides mixed results on the capacity of American shareholder activists to improve managerial behavior. In Japan, however, alternative means of external control (e.g. take-over, litigations) are not as effective as in the U.S. Challenging the management during the annual meeting...

We provide evidence that the financing decisions of companies that are audited by a Big Six auditor are less affected by information asymmetry. Specifically, these companies enjoy greater financial flexibility and depend less on favorable market conditions for their equity issuance decisions...

We show empirically that analysts who display more consistent forecast errors have greater ability to affect prices, and that this effect is larger than that of stated accuracy. These results lead to three implications. First, consistent analysts are less likely to be demoted and are more likely...

Prior research has shown that trust has a positive effect on the economic welfare of nations. We investigate this result by analyzing the effect of endowed trust on agency problems within organizations. We find that firms located in U.S. counties where trust is more prevalent suffer less from...

We examine the impact of financial reporting on corporate innovation. We find that firms that exhibit more conservative financial reporting generate fewer patents. Their patents also result in fewer citations and lower economic benefits. These effects of conservative financial reporting on...

Cyber-risks have generated considerable interest in the media and in the public. Perhaps as a response, regulators are devoting an increasing amount of resources to improving corporate disclosure related to these risks. In contrast, we find that, despite this increased focus, cyber risk...

Blockchain is a form of distributed ledger technology (DLT) that has grown in prominence, although its full potential and possible downsides are not yet fully understood, especially with respect to Operations Management (OM). This manuscript contributes to filling in this gap. We identify three...

We show that executives who start tweeting benefit from better career options. We motivate this finding using the well-established theory of limited attention. Consistent with this explanation, we find that content is irrelevant. Comparative statics are also consistent with our framework. In...

Fraud exists in all walks of life and detecting and preventing fraud represents an important research question relevant to many stakeholders in society. With the rise of big data and artificial intelligence, new opportunities have arisen in using advanced machine learning models to detect fraud....