Corporate Vices and Corporate Virtues: Do Public/Private Distinctions Matter?

Corporate Governance and Economic Efficiency: When Do Institutions Matter?

Virtues and Vices in Monetary Tradeoffs

Monetary intertemporal tradeoffs are a restricted, yet underexplored, domain. In this extended abstract, we provide an integrative analysis of monetary tradeoffs involving single dated outcomes, unmixed sequences, virtues (schedules of investment), and vices (schedules of debt). Results include debt aversion, aversion to vices (which adds to debt aversion) and relative vices, and attraction to ...

Financial Data at Corporate Web Sites: Do Information Clienteles Matter?

This study examines whether the nature of financial information provided at Web sites varies across firms with differences in three information clienteles: individual investors, financial analysts and the business press. Our findings are consistent with theories that link effective and persuasive information content (subjective/benefit-related versus objective/attribute-related) with the expert...

Mating Intelligence, Moral Virtues, and Methodological Vices

According to the ‘mating intelligence’ theory by evolutionary psychologist Geoffrey Miller, human morality is a system of sexually selected traits which serve as costly signals to the other sex about one’s fitness and readiness to take care for possible offspring. Starting from the standard prediction of evolutionary psychology that sexual selection produces psychological sex differences in hum...

Does Corporate Governance Really Matter?

We examine the relation between a broad set of corporate governance factors and various measures of managerial behavior and organizational performance. Using a sample of 2,126 firms we distill 38 structural measures of corporate governance (e.g., board characteristics, stock ownership, anti-takeover variables etc.) to 13 governance factors using principal components analysis. For a wide set of ...