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Articles 1 - 7 of 7
Full-Text Articles in Entire DC Network
Corporate Social Responsibility And Ceo Risk-Taking Incentives, Zhichuan Li
Corporate Social Responsibility And Ceo Risk-Taking Incentives, Zhichuan Li
Business Publications
We examine how firms adjust CEO risk-taking incentives in response to risk environments associated with their corporate social responsibility (CSR) standing. We find strong evidence that as a firm's CSR status improves (declines), increasing (decreasing) its risk-taking capacity, the firm responds by adjusting compensation contracts to increase (decrease) CEO risk-taking incentives (Vega). One channel of the adjustment is through stock option grants. Further analyses indicate that the positive CSR-Vega association is stronger in firms with better corporate governance and in industries where riskiness is more important. Our evidence indicates that firms are not passive in response to changes in CSR …
Drivers Of Research Impact: Evidence From The Top Three Finance Journals, Zhichuan Li, Chongyu Dang
Drivers Of Research Impact: Evidence From The Top Three Finance Journals, Zhichuan Li, Chongyu Dang
Business Publications
We study the characteristics of all published papers in the top three finance journals (JF, JFE, and RFS) and how these paper characteristics affect the number of citations in Google Scholar and the Web of Science database. First, we find the characteristics in the universalist perspective remain constant while the characteristics in the constructivist and presentation perspectives increase over time. Second, some characteristics are significantly different between the high impact and the low impact papers. Third, paper quality, research method, journal placement, and paper age are the most important drivers. Last, different drivers play different roles in different journals.
"At The Very Beginning, There's This Dream." The Role Of Utopia In The Workings Of Local And Cryptocurrencies, Diane-Laure Arjalies
"At The Very Beginning, There's This Dream." The Role Of Utopia In The Workings Of Local And Cryptocurrencies, Diane-Laure Arjalies
Business Publications
Since the 2008 financial crisis, the number of alternative currencies aiming at transforming global financial institutions, such as local and complementary currencies (LCC) and cryptocurrencies, has exploded. Yet the motivations and workings of such monies are relatively unknown. This chapter aims to fill this gap by providing a framework that uncovers the ideals pursued by alternative currencies, and the effects of those ideals on the production of money. To do so, I present a comparative analysis of the valuation infrastructure – the processes through which value(s) is produced – of one LCC, Sol Violette, and three cryptocurrencies, Bitcoin, Ğ1 …
What Trees Taught Me About Covid-19: On Relational Accounting And Other Magic, Diane-Laure Arjalies
What Trees Taught Me About Covid-19: On Relational Accounting And Other Magic, Diane-Laure Arjalies
Business Publications
While the world was on lock down, human beings started craving for green spaces. As they walked amidst the trees, trees began to talk to them. The surprising truth then emerged: There were actually secrets to be shared by the forest. This essay reflects on the teachings offered by nature(s) during the pandemic. Based on a personal encounter with a river, it caresses the relationships that have connected humans to non-humans over time and that have led to make this confinement both a unique and universal experience. It suggests embracing relational accounting, the expression of our relationships with each other …
Innovative It Use And Innovating With It: A Study Of The Motivational Antecedents Of Two Different Types Of Innovative Behaviors, Yasser Rahrovani, Alain Pinsonneault
Innovative It Use And Innovating With It: A Study Of The Motivational Antecedents Of Two Different Types Of Innovative Behaviors, Yasser Rahrovani, Alain Pinsonneault
Business Publications
The paper distinguishes two different types of innovative behaviors with information technology (IT): innovative IS use (IU) and innovating with IT (IwIT). While the former focuses on changing the technology and the work process to better support one’s existing work goals, the latter focuses on using IT to develop new work-related goals and outcomes. Drawing on Parker’s theory of proactive behavior, the paper compares the motivational antecedents and consequences of these two innovative behaviors with IT. Our model hypothesizes that three generic types of motivation differentially affect IwIT vs. IU. The paper also explores the moderating role of slack resources …
The Role Of Mutual Funds In Corporate Social Responsibility, Zhichuan Li, Saurin Patel, Srikanth Ramani
The Role Of Mutual Funds In Corporate Social Responsibility, Zhichuan Li, Saurin Patel, Srikanth Ramani
Business Publications
This paper examines the role of mutual funds in corporate social responsibility (CSR). Using a fund-level, holdings-based CSR score, we find that CSR-friendly mutual funds improve firms’ CSR standings. This effect is more pronounced for firms with higher mutual fund ownership and stronger corporate governance. We further show that while CSR-friendly mutual funds have influence on almost all CSR categories, they focus on increasing CSR strengths rather than reducing CSR concerns. We also discover that CSR-friendly funds are more likely to vote in favor of CSR proposals, and that firms owned by CSR-friendly funds are more likely to link their …
Managerial Attributes, Incentives, And Performance, Zhichuan Li, Jeffrey L. Coles
Managerial Attributes, Incentives, And Performance, Zhichuan Li, Jeffrey L. Coles
Business Publications
We examine the relative importance of observed and unobserved firm- and manager-specific heterogeneities in determining executive compensation incentives and firm policy, risk, and performance. First, we decompose executive incentives into time-variant and time-invariant firm and manager components. Manager fixed effects supply 73% (60%) of explained variation in delta (vega). Second, controlling for manager fixed effects alters parameter estimates and corresponding inference on observed firm and manager characteristics. Third, larger CEO delta (vega) fixed effects predict better firm performance (riskier corporate policies and higher firm risk). These results suggest that the delta (vega) fixed effect captures managerial ability (risk aversion).