Unlike broad-based equity ownership by employees, ownership of company debt by rank-and-file employees has not received much attention. We argue that company debt held by employees in the form of in-company deposits can monitor risk-taking and facilitate risk discovery. Employee deposits have...

Corporate social responsibility (CSR) contracting incorporates environmental, social and governance (ESG) related measures in executive compensation plans. Current research on this practice is limited to the US setting, despite it being adopted globally. We investigate the heterogeneity in CSR...

We examine bidder returns in Japanese mergers and find that shareholders of bidders experience a significant positive announcement return. Bidder returns are higher when firms acquire targets in the same industry, when their managers performed well before the merger, and when their managers...