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Business Law, Public Responsibility, and Ethics Commons™
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- Corporate governance (4)
- Corporate social responsibility (3)
- Corporate Governance (2)
- Financial performance (2)
- Philanthropy (2)
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- : Mutual fund performance (1)
- Agency costs (1)
- Agency problems (1)
- Anomaly attenuation (1)
- Audit quality (1)
- Auditor independence (1)
- Auditor selection (1)
- Bilta v Nazir (1)
- Bridging (1)
- Buffering (1)
- CEO/CFO outside directorship (1)
- CSR history (1)
- CSR motives (1)
- China (1)
- Corporate Social Responsibility (1)
- Corporate citizenship (1)
- Corporate crisis (1)
- Corporate hypocrisy (1)
- Corporate illegality (1)
- Corporate payout (1)
- Corporate pollution (1)
- Corporate reputation (1)
- Empirical research (1)
- Environmental performance (1)
- Ethical Leadership (1)
Articles 1 - 16 of 16
Full-Text Articles in Business Law, Public Responsibility, and Ethics
Socially Responsible Firms, Allen Ferrell, Hao Liang, Luc Renneboog
Socially Responsible Firms, Allen Ferrell, Hao Liang, Luc Renneboog
Research Collection Lee Kong Chian School Of Business
In the corporate finance tradition, starting with Berle and Means (1932), corporations should generally be run to maximize shareholder value. The agency view of corporate social responsibility (CSR) considers CSR an agency problem and a waste of corporate resources. Given our identification strategy by means of an instrumental variable approach, we find that well-governed firms that suffer less from agency concerns (less cash abundance, positive pay-for-performance, small control wedge, strong minority protection) engage more in CSR. We also find that a positive relation exists between CSR and value and that CSR attenuates the negative relation between managerial entrenchment and value.
Understanding And Tackling Societal Grand Challenges Through Management Research, Gerard George, Jennifer Howard-Grenville, Aparna Joshi, Laszlo Tihanyi
Understanding And Tackling Societal Grand Challenges Through Management Research, Gerard George, Jennifer Howard-Grenville, Aparna Joshi, Laszlo Tihanyi
Research Collection Lee Kong Chian School Of Business
“Grand challenges” are formulations of global problems that can be plausibly addressed through coordinated and collaborative effort. In this Special Research Forum, we showcase management research that examines societal problems that individuals, organizations, communities, and nations face around the world. We develop a framework to guide future research to provide systematic empirical evidence on the formulation, articulation, and implementation of grand challenges. We highlight several factors that likely enhance or suppress the attainment of collective goals, and identify representative research questions for future empirical work. In so doing, we aspire to encourage management scholars to engage in tackling broader societal …
Word Power: The Impact Of Negative Media Coverage On Disciplining Corporate Pollution, Ming Jia, Li Tong,, P. V. Viswanath, Zhe Zhang
Word Power: The Impact Of Negative Media Coverage On Disciplining Corporate Pollution, Ming Jia, Li Tong,, P. V. Viswanath, Zhe Zhang
Research Collection Lee Kong Chian School Of Business
Sequences of individual words make up media reports. And sequences of media reports constitute the power of the news media to influence corporate practices. In this paper, we focus on the micro-foundations of news reports to elaborate how an atmosphere of negative news reports following an initial exposure of corporate pollution activity can help stop such activity through their impact on corporate managers. We extend our understanding of the corporate governance effect of news media by considering two new aspects of reports—one, the proportion of words in negative reports relative to the total number of words in all reports; and …
Governance And Post-Repurchase Performance, Gary Caton, Jeremy Goh, Yen Teik Lee, Scott Linn
Governance And Post-Repurchase Performance, Gary Caton, Jeremy Goh, Yen Teik Lee, Scott Linn
Research Collection Lee Kong Chian School Of Business
Payout policies based on share repurchase programs provide greater flexibility than do those based on cash dividends. We develop and test an empirical model in which strongly governed companies outperform weakly governed companies after announcing share repurchase programs. Our findings include positive associations between strong governance and both post-announcement adjusted operating performance and abnormal stock returns. The results are robust to sample selection bias, different sample criteria, governance measurement, and various control variables. In addition, governance strength is associated with larger post-announcement changes in CEO incentive compensation and merger and acquisition activity, both of which we argue are consistent with …
Socially Responsible Firms, Allen Ferrell, Hao Liang, Luc Renneboog
Socially Responsible Firms, Allen Ferrell, Hao Liang, Luc Renneboog
Research Collection Lee Kong Chian School Of Business
In the corporate finance tradition starting with Berle & Means (1923), corporations should generally be run so as to maximize shareholder value. The agency view of corporate social responsibility (CSR) considers CSR as an agency problem and a waste of corporate resources. Given our identification strategy by means of an IV approach, we find that well-governed firms who suffer less from agency concerns (less cash abundance, positive pay-for-performance, small control wedge, strong minority protection) engage more in CSR. We also find a positive relation between CSR and value and that CSR attenuates the negative relation between managerial entrenchment and value.
Internal Governance And Real Earnings Management, Qiang Cheng, Jimmy Lee, Terry J. Shevlin
Internal Governance And Real Earnings Management, Qiang Cheng, Jimmy Lee, Terry J. Shevlin
Research Collection School Of Accountancy
We examine whether internal governance affects the extent of real earnings management in U.S. corporations. Internal governance refers to the process through which key subordinate executives provide checks and balances in the organization and affect corporate decisions. Using the number of years to retirement to capture key subordinate executives’ horizon incentives and using their compensation relative to CEO compensation to capture their influence within the firm, we find that the extent of real earnings management decreases with key subordinate executives’ horizon and influence. The results are robust to alternative measures of internal governance and to various approaches used to address …
Governance Matter: Morningstar Stewardship Grades And Mutual Fund Performance, Jerry X. Cao, Aurobindo Ghosh, Jeremy Goh, Wee Seng Ng
Governance Matter: Morningstar Stewardship Grades And Mutual Fund Performance, Jerry X. Cao, Aurobindo Ghosh, Jeremy Goh, Wee Seng Ng
Research Collection Lee Kong Chian School Of Business
Mutual fund investors have the arduous task of disentangling luck from ability of mutual fund managers’ performance. In this paper we investigate the role of mutual fund corporate governance (measured by Morningstar Stewardship grade) in mutual fund performance. We propose an objective data-driven corporate governance score based on principal components of Morningstar Stewardship Grades. Furthermore, we establish corporate governance scores have Granger Causality on long-term risk-adjusted returns. The findings suggest that corporate governance grades of mutual funds carry information content beyond the usual star rating measures for predicting long-term mutual fund performance and provide an effective tool for selecting funds.
The Influence Of Ethical Leadership On Managerial Performance: Mediating Effects Of Mindfulness And Corporate Social Responsibility, John J. Williams, Alfred E. Seaman
The Influence Of Ethical Leadership On Managerial Performance: Mediating Effects Of Mindfulness And Corporate Social Responsibility, John J. Williams, Alfred E. Seaman
Research Collection School Of Accountancy
In a continuing world of corporate misdeeds and unscrupulous decision making, much of the management and academic literatures points to the incomplete knowledge of the consequences of ethics leadership. One of the bastions of ethics gatekeeping in the firm is the CFO but remarkably scant information can be found on their perceptions concerning ethics leadership. This study addresses this void by examining mindfulness and corporate social responsibility (CSR) initiatives as new mediating linkages in comprehending the influence of ethics leadership on managerial performance. Findings reveal that ethical leadership is positively associated with CSR initiatives which, in turn, operate to enhance …
The Downside Of The Network Ties Between Ceo/Cfos And Auditors Through External Directorships: Evidence From Auditor Selection And Subsequent Audit Quality, Jaeyoon Yu, Byungjin Kwak, Myung Seok Park, Yoonseok Zang
The Downside Of The Network Ties Between Ceo/Cfos And Auditors Through External Directorships: Evidence From Auditor Selection And Subsequent Audit Quality, Jaeyoon Yu, Byungjin Kwak, Myung Seok Park, Yoonseok Zang
Research Collection School Of Accountancy
This study examines whether the professional ties of Chief Executive Officers/Chief Financial Officers (CEO/CFOs) to auditors through external directorships affect auditor selection and subsequent audit quality. Professional ties to auditors arise when the CEO/CFO of a firm (referred to as the home firm) serves as an outside director of another firm that hires an auditor (a connected auditor). Using a sample of firms with auditor switches over the period 2003-2012, we find that home firms are more likely to appoint connected auditors. Furthermore, utilizing a difference-in-differences approach, we find that home firms appointing connected auditors experience a significant decline in …
Bridge Or Buffer: Two Ideas Of Effective Corporate Governance And Public Engagement, Soojin Kim, Jeong-Nam Kim
Bridge Or Buffer: Two Ideas Of Effective Corporate Governance And Public Engagement, Soojin Kim, Jeong-Nam Kim
Research Collection Lee Kong Chian School Of Business
This study identifies organizational factors that influence corporate governance and formulation of public relations strategies for public engagement. This study explores intertwined relationships between public relations strategies and organizational factors. A total of 22 qualitative interviews were conducted with a diverse pool of communication consultants. Results show that the two public relations strategies, bridging and buffering, are frequently observed and linked with key factors such as size, organizational culture, environment specificity, and strategic orientation. Implications for future public relations and corporate governance research are discussed.
Solving The Puzzle Of Corporate Governance Of State-Owned Enterprises: The Path Of Temasek Model In Singapore And Lessons For China, Christopher C. H. Chen
Solving The Puzzle Of Corporate Governance Of State-Owned Enterprises: The Path Of Temasek Model In Singapore And Lessons For China, Christopher C. H. Chen
Research Collection Yong Pung How School Of Law
The purpose of this Article is to examine the corporate governance of state-owned enterprises (SOEs) in the Asian context by empirically surveying the influence of Temasek Holdings, Singapore’s sovereign wealth fund, on its portfolio of government-linked companies in Singapore. Overall, the Temasek model seems to be a promising one. This Article shows that the top listed government-linked companies in which Temasek has a stake have greater board independence than the other top listed companies in Singapore. This illustrates that a high quality of corporate governance could be aligned with public interests associated with SOEs. While this research offers hope for …
Corporate Social Responsibility: An Overview And New Research Directions: Thematic Issue On Corporate Social Responsibility [From The Editors], Heli Wang, Li Tong, Rikki Takeuchi, Gerard George
Corporate Social Responsibility: An Overview And New Research Directions: Thematic Issue On Corporate Social Responsibility [From The Editors], Heli Wang, Li Tong, Rikki Takeuchi, Gerard George
Research Collection Lee Kong Chian School Of Business
The idea of corporate social responsibility (CSR)—that is, businesses bearing a responsibility to society and a broader set of stakeholders beyond its shareholders—gained currency in the 1960s. Since then, attention on CSR has been growing in both academic and practitioner communities around the world. While there have been criticisms and debates on whether it was appropriate for corporations to expand their remit beyond shareholder value, an increasing majority of corporations have proactively committed to addressing larger societal challenges. With a variety of options for corporate engagement in mainstream society and local communities, corporations have created dedicated organizational units to effectively …
The Effect Of Bad Reputation: The Occurrence Of Crisis, Corporate Social Responsibility, And Perceptions Of Hypocrisy And Attitudes Toward A Company, Kyujin Shim, Sung-Un Yang
The Effect Of Bad Reputation: The Occurrence Of Crisis, Corporate Social Responsibility, And Perceptions Of Hypocrisy And Attitudes Toward A Company, Kyujin Shim, Sung-Un Yang
Research Collection Lee Kong Chian School Of Business
Based on attribution theory, this study examines how corporate social responsibility (CSR) and media coverage of corporate reputation, crisis, and CSR history affect the attribution of corporate hypocrisy and subsequently shape attitudes toward a company. The study found that perceptions of corporate hypocrisy mediated corporate reputation and attitudes toward a company during a crisis. The study suggested that CSR might be utilized best when a company has a good reputation with no crisis, whereas corporate hypocrisy is perceived most when a bad reputation and/or a company crisis lead the public to infer ulterior motives in CSR. Theoretical and practical implications …
Think Socially But Act Publicly: Refocusing Csr As Corporate Public Responsibility, Soojin Kim, Jeong-Nam Kim, Laishan Tam
Think Socially But Act Publicly: Refocusing Csr As Corporate Public Responsibility, Soojin Kim, Jeong-Nam Kim, Laishan Tam
Research Collection Lee Kong Chian School Of Business
Current literature has identified many different definitions for the concept of corporate social responsibility (CSR). As a result, many organizations fail to implement and measure CSR strategically. This study reviews the different theories and concepts within CSR and suggests that the current scope of CSR activities is too large that organizations are unable to find a tangible link between CSR and their bottom line. Using two case examples, this study proposes refocusing the concept of CSR as corporate public responsibility (CPR) based on which organizations utilize the concept of publics to prioritize the groups to which they must fulfill their …
Corporate Claims Against Directors Or Officers Following The Company’S Unlawful Conduct, Wai Yee Wan
Corporate Claims Against Directors Or Officers Following The Company’S Unlawful Conduct, Wai Yee Wan
Research Collection Yong Pung How School Of Law
When a company enters into a transaction or undertakes an action that turns out to be either illegal or otherwise exposes the company to substantial fines or other pecuniary sanctions, the question arises as to whether the company may then recover its fines, expenses and other losses from its directors and employees, in the absence of the relevant legislation specifically providing for, or denying a claim by, the company. In these cases, the board may have made a specific decision to cause the company to enter into the unlawful conduct or may have failed to prevent the improper conduct from …
Sincerity In Corporate Philanthropy, Stakeholder Perceptions And Firm Value, Ilya R. P. Cuypers, Ping-Sheng Koh, Heli Wang
Sincerity In Corporate Philanthropy, Stakeholder Perceptions And Firm Value, Ilya R. P. Cuypers, Ping-Sheng Koh, Heli Wang
Research Collection Lee Kong Chian School Of Business
This study extends the literature on symbolic management by incorporating the role of stakeholder perceptions into the context of corporate philanthropy. In particular, we differentiate between the quantitative (generous giving) and qualitative (innovative giving) aspects of giving. We argue that although stakeholders may perceive both types of giving as being substantive rather than symbolic, innovative giving is likely to be perceived as more substantive than generous giving is and, thus, has a greater impact on firm value. Furthermore, stakeholder perceptions of corporate philanthropy as being more symbolic or substantive are influenced by firm characteristics—the type of products or services that …