Professional attire has traditionally been regarded as a sign of ethicality. However, recent trends towards a more casual workplace may have altered the general public's attire-based perceptions. To determine whether these trends have rendered the association between professional attire and...

Purpose – The purpose of this study is to examine if consumers, after missing a price discount on a desired product, prefer to buy the latter at a smaller discount or prefer to pay full price but offset some of it with windfall money. Design/methodology/approach – In four experiments,...

Purpose: The purpose of this paper is to explore corporate social responsibility (CSR) inequality, which is the inequality across different CSR categories. Higher inequality suggests a less balanced CSR policy. To determine if CSR inequality is beneficial or harmful, this paper investigates how...

Purpose: This study aims to investigate the role of the market for corporate control as an external governance mechanism and its effect on executive risk-taking incentives. Managers tend to be risk-averse as they are more exposed to idiosyncratic risk, resulting in sub-optimal risk-taking that...

type="main" <p>We show that a firm's CSR policy is significantly influenced by the CSR policies of firms in the same three-digit zip code, an effect possibly due to investor clienteles, local competition, and/or social interactions. We then exploit the variation in CSR across the zip codes to...</p>

CEOs are “lucky” when they are granted stock options on days when the stock price is lowest in the month of the grant, implying opportunistic timing and severe agency problems (Bebchuk et al., 2010). Using idiosyncratic volatility as our measure of stock price informativeness, we find that...

Using an event study approach, we seek to estimate the market value investors placed on Steve Jobs by investigating the stock market reactions to his death. In the three-day window surrounding his death, the estimated cumulative abnormal returns (CAR) are -5.76%. Given the market capitalization...