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a system of management control and distributed governance, which is steadily eroding state-centred forms of authority …
Persistent link: https://www.econbiz.de/10012502017
(second) sub-period is robust to misspecification. Finally, we find that fund managers reveal positive crisis management …We develop a directional trading model and a crisis management model to measure fund manager skills more adequately. We … test the robustness of both traditional market timing models and new management skill models to changes in their underlying …
Persistent link: https://www.econbiz.de/10013156484
Persistent link: https://www.econbiz.de/10013258141
We explore the association between CEO compensation and carbon risk using firm level emission data for US firms between 2010 and 2018. Our results show that firm’s carbon risk is positively associated with CEO’s total compensation, implying that CEO total pay (equity pay) increases by 0.17%...
Persistent link: https://www.econbiz.de/10013244780
We study the effect of CEO external-directorships on performance using non-US firms. We find that CEOs serving on four or more external-directorships have a detrimental effect on firm value and performance and more powerful CEOs are busier. Firms with busy CEOs trade at a 10% discount relative...
Persistent link: https://www.econbiz.de/10012895047
The authors present the idea of integrating prediction markets into the IASB's due process of accounting standards development in order to assure the legitimacy of IFRS. They refer to the constitutional economics concept of hypothetical consent and further substantiate literature claims that the...
Persistent link: https://www.econbiz.de/10012973424
A stream of literature shows that human attention constraints affect asset pricing in predictable ways. When traders are distracted, stock prices tend to initially underreact to earnings news and then gradually incorporate the news over subsequent weeks. In modern markets, however, the majority...
Persistent link: https://www.econbiz.de/10012856137
The article addresses the legitimacy of global accounting regulation. In line with other approaches, we relate the legitimacy of standard setting by the IASB to the process of standard development. We argue that the provision of procedural elements in the standard setting process that assure...
Persistent link: https://www.econbiz.de/10012993387
This paper, Part One of a 2015-2016 Paper Series, examines the need for ESG data transparency, consistency, and reliability. It identifies (i) the three main drivers creating the rising global capital market systemic risk caused by unrecognized, under-reported, and under-valued ESG risks; (ii)...
Persistent link: https://www.econbiz.de/10013014255
Persistent link: https://www.econbiz.de/10010125787