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Articles 1 - 4 of 4
Full-Text Articles in Business
The Disparate Effects Of Non-Reliance Restatements On Retail And Institutional Investor Trading, Jason T. Bangert
The Disparate Effects Of Non-Reliance Restatements On Retail And Institutional Investor Trading, Jason T. Bangert
Doctoral Dissertations
The SEC seeks to mandate disclosures that effectively inform retail investor decision making. To evaluate these efforts, I investigate how retail investors, relative to institutional investors, process non-reliance restatements. I find that both retail and institutional investors revise expectations about firm value and modify investment decisions following these disclosures. However, in contrast to regulator efforts, the results suggest that the costs to process non-reliance restatements are disproportionately high for retail investors. Specifically, individuals tend to disagree regarding the implications of these disclosures for firm value, whereas institutions tend to draw similar inferences. Moreover, individuals take significantly longer than institutions to …
Broker Conflict Of Interest Mitigation Efforts And Mutual Funds: Evidence From The 2016 Department Of Labor Fiduciary Rule, Connor Kasten
Broker Conflict Of Interest Mitigation Efforts And Mutual Funds: Evidence From The 2016 Department Of Labor Fiduciary Rule, Connor Kasten
Doctoral Dissertations
This dissertation utilizes the 2016 Department of Labor (DOL) Fiduciary Rule to analyze the impact of efforts to mitigate broker conflicts of interest on mutual funds. The first chapter examines the effect of the Fiduciary Rule on mutual fund investment. Specifically, I look at changes in the composition of funds available for investment and fund flows during and after the implementation of the Fiduciary Rule. I find that investment companies shifted away from offering investments with broker compensation by eliminating commissioned loads on existing funds, removing funds with broker compensation, and adding funds without broker compensation. This change in investment …
Improving Customer Experience Throughout The Customer Journey In The Big Data Era, Mohammad Saljoughian
Improving Customer Experience Throughout The Customer Journey In The Big Data Era, Mohammad Saljoughian
Doctoral Dissertations
My PhD dissertation focuses on how firms should adapt their strategies to improve customer engagement throughout customer journey. My first paper examines firm-customer conversations on social media. Many firms struggle with how to craft their messages in conversations with customers on social media, and the lack of guidance for interacting with customers is among the top social media challenges reported by firms. The problem is compounded by the fact that these conversations take place in different, simultaneous threads, each of which potentially requiring a different approach. This paper studies how firms can adapt their responses in individual social media conversations …
Firm Transparency Of Risk Oversight: An Examination Of Cybersecurity Governance Disclosures, Laurie E. Ereddia
Firm Transparency Of Risk Oversight: An Examination Of Cybersecurity Governance Disclosures, Laurie E. Ereddia
Doctoral Dissertations
In this study, I examine factors associated with firm transparency of board oversight using the setting of cybersecurity risk. The SEC requires that, to the extent cybersecurity risks are material, firms must disclose the nature of the board’s role in overseeing the management of that risk, allowing investors to assess how the board is fulfilling its risk oversight duties. Using textual analysis, I identify 2,921 firms that report material cybersecurity risk factors in their annual reports. From these firms’ 2021 proxy statement filings, I hand collect data relating to 12 different elements of cybersecurity board oversight and create an overall …