George Serafeim

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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)
  • Anzhela Knyazeva, Diana Knyazeva, Ronald Masulis, We Thank, Bernard Black, Christa Bouwman +13 others
  • 2012
We explore the relations between board independence and key board decisions, CEO incentives and firm performance, using a framework that circumvents major endogeneity concerns common in research on corporate boards. Our approach is to exploit the strong impact of local director labor markets on corporate board structure to examine whether firms can more(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 explore the impact of corporate social responsibility (CSR) ratings on sell-side analysts' assessments of(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)
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