Business Law, Public Responsibility, and Ethics Commons^™

Insider Trading Enforcement And The Private Information Environment: Evidence From The Newman Ruling, Andrew T. Pierce

Graduate Theses and Dissertations

I exploit a shock to U.S. insider trading law to investigate whether a reduction in the enforceability of tipper-tippee insider trading restrictions leads to changes in information parity among investors and the efficiency of price discovery. The December 2014 Federal Second Circuit Court of Appeals ruling in US v. Newman constrained enforcement by restricting the types of exchanges between managers and investors that trigger tipper-tippee insider trading liability. Following Newman, I find that Second Circuit hedge funds experienced a significant increase in their stock picking ability of Second Circuit stocks in terms of preempting future earnings announcement returns and future …

المحاسبة والافصاح عن تكاليف الاقتراض في ضوء معيار المحاسبة الدولي 23 في الشركات المساهمة العامة الأردنية, Mohammad Bachayra

Al Jinan الجنان

هدفت هذه الدراسة إلى تقييم كيفية تطبيق ومدى التزام الشركات المساهمة العامة الأردنية بمتطلبات معيار المحاسبة الدولي رقم 23( تكاليف الاقتراض) المتعلّقة بمتطلبات المحاسبية ومتطلبات الإفصاح، وقد تمّ إعداد وتوزيع استبانة على عيّنة الدراسة وهم محاسبي أو معدي القوائم المالية في هذه الشركات وعددها ستون شركة فقد تم توزيع مائة وعشرون استبانة تم استرداد مائة حيث تم قبولها للتحليل بواسطة برنامج الرزم الإحصائية وكان أهم نتائج الدراسة ما يلي :

إن الشركات المساهمة العامة تلتزم بالمحاسبة عن تكاليف الاقتراض وفقا لمتطلبات معيار المحاسبة.

تفصح الشركات المساهمة العامة عن تكاليف الاقتراض حسب متطلبات معيار المحاسبة الدولي23( تكاليف الاقتراض) حتى لا يكون …

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 …

Corporate Social Responsibility And Sustainable Finance: A Review Of The Literature, Hao Liang, Luc Renneboog

Research Collection Lee Kong Chian School Of Business

Corporate Social Responsibility (CSR) refers to the incorporation of Environmental, Social, and Governance (ESG) considerations into corporate management, financial decision making, and investors’ portfolio decisions. Socially responsible firms are expected to internalize the externalities (e.g. pollution) they create, and are willing to be accountable to shareholders as well as a broader group of stakeholders (employees, customers, suppliers, local communities,…). Over the past two decades, various rating agencies developed firm-level measures of ESG performance, which are widely used in the literature. A problem for past and a challenge for future research is that these ratings show inconsistencies, which depend on the …

J Mich Dent Assoc September 2020

The Journal of the Michigan Dental Association

Every month, The Journal of the Michigan Dental Association brings news, information, and features about Michigan dentistry to our state's oral health community and the MDA's 6,200+ members. No publication reaches more Michigan dentists!

In this issue, the reader will find the following original content:

• A cover story, “Perspectives from the Deans: Michigan’s Dental Schools in the Time of COVID-19"
• Five feature stories: “There’s a New CDA-to-RDA Pathway in West Michigan”, “We Can Do Something to Meet the Need for More RDAs”, “Coronavirus in the Workplace: Frequently Asked Questions and Answers”, “Statistics Tutorial Part IV: Common Statistical Errors”, and “Preparing …

College Of Business Dean's Report: 2019-2020, Ryan Butt

College of Business Dean’s Reports

No abstract provided.

Family Ownership And Corporate Environmental Responsibility: The Contingent Effect Of Venture Capital And Institutional Environment, Zhu Zhu, Feifei Lu

Department of Management Faculty Scholarship and Creative Works

As scholars and policy makers pay more attention to the environmental impact of economic activities, more focus has been placed on the corporate environmental responsibility (CER) of family firms, which accounts for the majority of businesses in both developed and developing countries. Using a sample of 4714 private enterprises across 23 provinces in China, the current study examines the effect of family ownership on CER investment, as well as the moderating effects of venture capital investment and local institutional development. Results show that concentrated family ownership leads to lower CER spending, however, when venture capital investment comes from developed markets, …

Cryptocurrencies: An Overview, Investment Investigation, Comparative Analysis, And Regulatory Proposals, Jacob Franzen

Theses/Capstones/Creative Projects

With cryptocurrencies moving out of obscurity and into the public eye, the initial purpose of this research paper is to provide the history of cryptocurrencies, to explain the complex workings in and around cryptocurrencies, investigate their investment potential, and to draw attention to their potential for misuse. To follow, the primary purpose is to create a platform on which to compare cryptocurrencies with more common mediums of exchange, analyze their current international regulatory climate, highlight their trends within influential nations, discuss their pending and future regulation, and provide personal proposals for additional regulation. Due to the complex nature of the …

The Cost Of Big Data: Evaluating The Effects Of The European Union’S General Data Protection Regulation, Kara Rebecca White

Chancellor’s Honors Program Projects

No abstract provided.

An Examination Of How Environmental, Social, Governance (Esg) Investing Influences A Company's Stock Return, Sam Marty

Undergraduate Honors Thesis Projects

Using a random sample of 184 companies traded on the New York Stock Exchange in 2019, this paper investigates the impact of Environmental, Social, Governance (ESG) investing on a company’s stock return. The results show that ESG investing has a positive and statistically significant impact on a company’s stock return. An increase in one ESG rating leads to an increase between 0.4% and 3.6% in the return of a company’s stock. Additionally, the results show that individual ESG factors are each statistically insignificant. This indicates that the three ESG factors need to be viewed together rather than individually. Lastly, the …

Why Is Las Vegas Busy Everyday? A Behavioural Analysis Of Impact Investors’ Attitude And Decision-Making Process, Isha Shah

Independent Study Project (ISP) Collection

Remarking a discrepancy in the statistics of a growing influence of impact investment and yet its restrictive inclusion in the financial market has encouraged this inductive research to take an alternative approach to address the impact investment market. In an emic perspective, this study aims to assess the factors motivating individuals and institutions to pursue impact investment. Further, it also investigates some elements that guide the decision making of the investors in this field. The qualitative nature of the research demands exceptional secondary sources and it is rendered more credible with the inclusion of three relevant primary sources. The analysis …

Dbs Impact Measurement Project: Technical Review, Hao Liang, Phuong Tran Bao Nguyen, David Fernandez, Jun Ho Park

Research Collection Lee Kong Chian School Of Business

The measurement of ESG and its impact is becoming one of the more important and debated issues in sustainable business practice, with the significant challenges being the subjectivity of scope, criteria, as well as lack of consistency across different rating agencies and data providers

Impact measurement goes beyond ESG measurement. Apart from qualitative and input-based approach, it encapsulates a more outcome/impact-based approach, supported with quantitative methods

Impact measurement and valuation are still at the infant stage, with limited research and guidelines, thus [Impact Institute] II’s approach has significant novelty and is among the first to measure and value impact

II …

Session 12 - Finance: Bias In, Bias Out? How To Fight Biases In Ai And Create Trust, Gerald Fahner

SDSU Data Science Symposium

Alarming headlines appear at an increasing rate about ‘biased AI’ leading to nontransparent decisions, discrimination and lack of trust.

Newcomers to AI application development are confronted with (and often struggle with) multiple traps that can inadvertently lead to biased and unreasonable automated decisions. By comparison, credit score developers have decades of experience in the “art and science” of mitigating biases through transparent and credible models and decisions that provide benefits to all stakeholders while complying with fair lending regulations.

In this presentation you will learn about traps to be avoided and get our unique perspective on how to achieve comprehension …

J Mich Dent Assoc February 2020

The Journal of the Michigan Dental Association

Every month,The Journal of the Michigan Dental Association brings news, information, and features about Michigan dentistry to our state's oral health community and the MDA's 6,200+ members. No publication reaches more Michigan dentists!

In this issue, the reader will find the following original content:

• A cover story on the 2020 MDA Annual Session
• A feature covering student perspectives on the Opioid Crisis
• News you need, Editorial and regular department articles on MDA Foundation activities, Dentistry and the Law, Staff Matters, Headquarters Report, and component news

This issue also includes articles reprinted with permission:

• “Muscle Deprogramming: A Source of Confusion”, …

Enhancing Rescue In Chapter 11: Lessons From Reform Efforts In The United Kingdom, Robert J. Landry Iii

Research, Publications & Creative Work

This is a dynamic time for insolvency law. Many jurisdictions have or are considering reforms to their insolvency regimes. The U.K. has proposed a new standalone restructuring mechanism that incorporates many attributes of Chapter 11, including a cross-class cram down and the absolute priority rule. A distinctive feature of the U.K proposal is the infusion of judicial discretion permitting courts to deviate from the absolute priority rule. This discretion is not permitted in the U.S. This judicial discretion addresses a key problem with the application of the absolute priority rule in the U.S. – it serves as an impediment to …

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 …

Buyer Beware: Variation And Opacity In Esg And Esg Index Funds, Dana Brakman Reiser, Anne Tucker

Faculty Publications By Year

Evidence of the tremendous rise in the significance of environmental, social, and governance (ESG) investing is coming from all quarters. Fund flows into ESG investment vehicles are growing at a sustained and sometimes exponential pace. Fund complexes are rushing to design products, creating and rebranding scores of mutual funds and exchange traded funds (ETFs), including lower-cost indexed options. Industry leaders, critics, and commentators are all heralding the sea change as a shift in investing - and corporate governance - to more broadly consider environmental and social factors.

This Article provides vital context for this conversation. Its descriptive account of the …

Corporate Social Responsibility And Corporate Financial Performance: An Examination Into Fortune 500 And Djsi Firms Within Consumer-Facing Industries, Samantha Lee

CMC Senior Theses

This paper examines the relationship between a firm’s Corporate Social Responsibility (CSR) and its Corporate Financial Performance (CFP) in nine consumer-facing industries classified by the Fortune 500. Unlike prior research on the matter, the firms investigated in this study consist only of firms on both the Fortune 500 for the year 2018 and the Dow Jones Sustainability Index (DJSI) between the years 2005-2018 in order to define a clear measurement of CSR. In order to gauge investor and market sentiment, CFP is measured primarily by the firm’s stock performance in comparison to the S&P 500 as a basis. The results …

A Business Plan For The Fitzgerald Institute, Elaine M. King, Matthew G. Deibel, Matthew J. Bulgrin, Alex Skeen, Stephanie N. Kieke

Williams Honors College, Honors Research Projects

This piece seeks to develop a business strategy for the University of Akron's Fitzgerald Institute for Entrepreneurship. The recommendations given were developed utilizing research on entrepreneurial education and the desires of students at the university.

How Access To Finances Affects Gender Inequality Across Cultures, Allison Muntin

Williams Honors College, Honors Research Projects

While many studies of financial inclusion have been undertaken, very few discuss the inclusion of women. Financial inclusion plays a large role in unlocking resources for the disadvantaged, resulting in higher economic growth and development. The economic opportunity allows individuals and businesses to have a greater contribution to society as a whole, enhancing all aspects of the economy. This paper furthers the conversation of women’s access to financial institution accounts across cultures and what underlying factors play a key role. The results indicate that the female demographic has fewer financial institution accounts in comparison to men when: (i) a country’s …

The Layers Of Digital Financial Innovation: Charting A Regulatory Response, Teresa Rodriguez De Las Heras Ballell

Fordham Journal of Corporate & Financial Law

The increasing penetration of digital technologies in financial markets is evidenced by promising adoption rates among users, expanding presence of fintech firms and bigtech providing techfin services, and the growing use of fintech solutions by incumbents. The increasingly popular term "fintech" captures the accelerated transformation of contemporary financial markets driven and enabled by technology, and encapsulates its multifarious potential impact on services, market structures, and business models. This Article first aims to devise and propose an analytical framework to understand the digital challenges to financial regulation based on the "layers of digital financial innovation" theory. Accordingly, digital innovation (fintech) is …