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Based on Whitley's " National Business Systems " (NBS) institutional framework (Whitley 1997; 1999), we theorize about and empirically investigate the impact of nation-level institutions on firms' corporate social performance (CSP). Using a sample of firms from 42 countries spanning seven years, we construct an annual composite CSP index for each firm based(More)
We investigate the effect of corporate sustainability on organizational processes and performance. Using a matched sample of 180 US companies, we find that corporations that voluntarily adopted sustainability policies by 1993 – termed as High Sustainability companies – exhibit by 2009, distinct organizational processes compared to a matched sample of firms(More)
The paper examines the effects of mandatory International Financial Reporting Standards ('IFRS') reporting on a firms' information environment, specifically on analysts forecast accuracy, following, disagreement and volatility of revisions. We investigate not only those firms that mandatorily adopted IFRS, but also include those firms that voluntarily(More)
Working papers are in draft form. This working paper is distributed for purposes of comment and discussion only. It may not be reproduced without permission of the copyright holder. Copies of working papers are available from the author. Abstract We examine the effect of mandatory sustainability reporting on corporate disclosure practices. Specifically, we(More)
Working papers are in draft form. This working paper is distributed for purposes of comment and discussion only. It may not be reproduced without permission of the copyright holder. Copies of working papers are available from the author. Abstract We investigate the effect of a corporate culture of sustainability on multiple facets of corporate behavior and(More)
In this paper, I examine the relation between Integrated Reporting (IR) and the composition of a firm's investor base. I hypothesize and find that firms that practice IR have a more long-term oriented investor base with more dedicated and fewer transient investors. This result is more pronounced for firms with high growth opportunities, not controlled by a(More)
Working papers are in draft form. This working paper is distributed for purposes of comment and discussion only. It may not be reproduced without permission of the copyright holder. Copies of working papers are available from the author. Abstract Using survey data collected from senior corporate executives around the world I analyze how detection of bribery(More)
P rior research on equity analysts focuses almost exclusively on those employed by sell-side investment banks and brokerage houses. Yet investment firms undertake their own buy-side research, and their analysts face different stock selection and recommendation incentives than their sell-side peers. We examine the selection and performance of stocks(More)
INTRODUCTION This paper seeks to shed light on an important question in 21 st century capitalism. Can corporations do well while doing good? In other words, does a company that improves its social or environmental performance increase, decrease, or leave unchanged its financial performance? Adopting a long-term horizon, understanding materiality, as well as(More)