Purpose - The purpose of this paper is to examine the media coverage of corporate social performance (CSP), as well as the ultimate impact that such coverage has on the financial performance of corporate entities. Design/methodology/approach - Based on a sample of financial holding companies...

Based on a sample of banking firms listed on the Taiwan Stock Exchange, we examine the impact of corporate governance and media coverage on the market reaction to unexpected earnings announcements. This study finds that positive media reports prior to bad earnings announcements have a positive...

This article investigates how the investment horizon of a firm's institutional shareholders affects the outcome of stock repurchase. Our results show that repurchasing firms with long-term institutional investors experience significantly positive abnormal returns around the repurchasing...

We examine the impact of information asymmetry on a firm's capital structure decisions with a unique information rating scheme that draws from 114 measures over five dimensions of information disclosures on each firm from 2006 to 2012. We find that a firm with high (low) information rating is...

What costs is it worth incurring to avoid the risk of climate change? People rarely think of this as a question amenable to a precise answer. Yet an answer can be calculated: it depends on the following four parameters (at least). These are (1) the probability distribution of the effects of...

In this paper it is shown how a general two-sided orthant probability for a quadrivariate normal distribution can be evaluated by a one-dimensional numerical integral calculation. The quadrivariate normal distribution can have any covariance matrix and any mean vector. This affords a practical...

A two-step infinite α-cuts fuzzy linear programming (TSIFP) method is developed in this study. The introduction of infinite α-cuts to conventional fuzzy linear programming frameworks makes it possible to generate more reliable optimal results than conventional fuzzy linear programming, where...