We examine the impact of county-level religiosity on labor investment decisions. Specifically, we examine the effect of county-level religiosity on labor investment inefficiency. Drawing on the social norm theory, we hypothesize that firms located in religious counties do not engage in...

We examine the impact of prosocial CEOs on corporate labor violations. Contrary to the theoretical proposition that individuals’ prosocial behavior can sometimes backfire, we find that firms managed by prosocial CEOs have lower corporate labor violations. This effect is stronger for...

We examine whether managers of diversified firms make efficient labor investment decisions. Contrary to the internal capital market prediction that diversified firms often leverage internal resources to achieve resource allocation efficiency, we find that managers of diversified firms are...