Did the masculinity-driven corporate culture of Wall Street change after the 2008 global financial crisis? According to the neuroendocrinology literature, the voice pitch of a male is an ‘honest signal' of his testosterone level that affects risk taking for social dominance. We use digitally...

Stock price crash risk could be lower in family firms because the controlling family investorshave a longer-term interest, hold greater decision rights and are better informed thaninvestors in diffusely owned firms (alignment effect). However, the agency costs betweenfamily and nonfamily...