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The Impact of Corporate Sustainability on Organizational Processes and Performance

Eccles, Robert G. - 2012

We investigate the effect of corporate sustainability on organizational processes and performance. Using a matched sample of 180 US companies, we find that corporations that voluntarily adopted sustainability policies by 1993 - termed as High Sustainability companies - exhibit by 2009 distinct...

Persistent link: https://www.econbiz.de/10013108252

Performance Evaluation of Zero Net-Investment Strategies

Jorda, Oscar - 2011

This paper introduces new nonparametric statistical methods to evaluate zero-cost investment strategies. We focus on directional trading strategies, risk-adjusted returns, and the investor's decisions under uncertainty as the core of our analysis. By relying on classification tools with a long...

Persistent link: https://www.econbiz.de/10013123682

Intangible Investment and Firm Performance

Chappell, Nathan - 2018

We combine survey and administrative data for about 13,000 New Zealand firms from 2005 to 2013 to study intangible investment and firm performance. We find that firm size and moderate competition is associated with higher intangible investment, while firm age is associated with lower intangible...

Persistent link: https://www.econbiz.de/10012925908

Supervisors and Performance Management Systems

Frederiksen, Anders - 2017

We study how heterogeneity in performance evaluations across supervisors affects employee and supervisor careers and firm outcomes using data on the performance system of a Scandinavian service sector firm. We show that supervisors vary widely in how they rate subordinates of similar quality. To...

Persistent link: https://www.econbiz.de/10012957380

Choosing between Growth and Glory

Belenzon, Sharon - 2018

Prior work has established that the financing environment can impact firm strategy. We argue that this influence can … environment in a pattern consistent with our model. We discuss implications for the literature on new venture strategy …

Persistent link: https://www.econbiz.de/10012912538

Endogenous Information Flows and the Clustering of Announcements

Acharya, Viral V. - 2010

We consider the strategic timing of information releases in a dynamic disclosure model. Because investors don't know whether or when the firm is informed, the firm will not necessarily disclose immediately. We show that bad market news can trigger the immediate release of information by firms....

Persistent link: https://www.econbiz.de/10013136743

The Other Side of Value : Good Growth and the Gross Profitability Premium

Novy-Marx, Robert - 2010

Profitability, as measured by gross profits-to-assets, has roughly the same power as book-to-market predicting the cross-section of average returns. Profitable firms generate significantly higher average returns than unprofitable firms, despite having, on average, lower book-to-markets and...

Persistent link: https://www.econbiz.de/10013144171

Dividends as Reference Points : A Behavioral Signaling Approach

Baker, Malcolm - 2012

We outline a dividend signaling approach in which rational managers signal firm strength to investors who are loss averse to reductions in dividends relative to the reference point set by prior dividends. Managers with strong but unobservable cash earnings separate themselves by paying high...

Persistent link: https://www.econbiz.de/10013103531

Uncertainty Business Cycles - Really?

Bachmann, Ruediger - 2011

Are fluctuations in firms' profitability risk a major cause of regular business cycles? We study this question within the framework of a heterogeneous-firm dynamic stochastic general equilibrium model with fixed capital adjustment costs. In such a model, surprise increases of risk lead to a...

Persistent link: https://www.econbiz.de/10013128887

Business Strategy and the Management of Firms

Yang, Mu-Jeung - 2015

Business strategy can be defined as a firm's plan to generate economic profits based on lower cost, better quality, or … new products. The analysis of business strategy is thus at the intersection of market competition and a firm's efforts to … interaction of firms' business strategies and their managerial practices using a unique, detailed dataset on business strategy …

Persistent link: https://www.econbiz.de/10013030140