This study examines the impact of investors’ site visits on the pricing of bond issues using data from the Shenzhen Stock Exchange-listed companies’ bonds issued from 2014 to 2020. Our investigation reveals a significant correlation between investors’ site visits and a lower bond spread,...

Theory suggests cultural proximity between the CEO and the board of directors can play a crucial role in shaping CEO-board dynamics. Using novel data, we measure the cultural proximity between CEOs and directors of US S&P 1500 firms based on their first and last names. We document that CEO-board...

Upward influencers, employees that are more favorably perceived by their supervisors than their peers and subordinates, are predicted by economic and accounting theories and are found to be ubiquitous in many organizations. Despite their prevalence, whether having them in teams can impact team...

We develop and validate new text-based measures of firms’ financial and non-financial value drivers. Using the Wayback Machine to access public US firms’ archived websites from 1995-2020, we scrape text from corporate homepages. We use Kaplan and Norton’s (1992) balanced scorecard, as well...

We examine whether greater board diversity is associated with more diverse workforce hiring, more equitable pay practices, and more inclusive corporate cultures. Using a variety of quasi-experimental designs, we document increases in managerial and staff diversity in the years following a...