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Purpose: This study aims to examine the impact of December 2012, New Zealand (NZ) stock exchange operator listing rule change that introduced compulsory disclosure about gender diversity on NZ boards. Design/methodology/approach: A quasi-natural experiment setting with a clearly identifiable...
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Motivated by psychology research showing that individual mood is affected by weather and daylight savings changes respectively, Saunders (American Economic Review 83, 1337-1345, 1993) and Kamstra et al. (American Economic Review 90, 1005-1011, 2000) find that stock prices are systematically...
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We investigate the effectiveness of initiating deposit insurance at the outset of a banking crisis. Using a conjoint analysis approach that allows us to consider the simultaneous impact of multiple deposit insurance attributes and various counterfactuals, we ask a multinational sample of...
Persistent link: https://www.econbiz.de/10011207368
The managerial power view of executive compensation suggests that CEO membership of the compensation committee is an open invitation to rent extraction by self-serving executives. However, using data from New Zealand – where CEO compensation committee membership was relatively common until...
Persistent link: https://www.econbiz.de/10010730438
In most countries, academic pay is independent of discipline, thus ignoring differences in labor market opportunities. Using some unique data from a comprehensive research assessment exercise undertaken in one such country -- New Zealand -- this paper examines the impact of...
Persistent link: https://www.econbiz.de/10005086831
Popular investment advice recommends that stock/bond and stock/wealth ratios should rise with investor risk tolerance and investment horizon respectively, prescriptions that are difficult to reconcile with the simple mean-variance model. We show that extending the mean-variance model to include...
Persistent link: https://www.econbiz.de/10005716046