2021

最新文章

• Reexamining investor reaction to covert corporate political activity: A replication and extension of Werner (2017) AI翻译
  作者：Minefee, Ishva; McDonnell, Mary-Hunter; Werner, Timothy
  作者单位：Iowa State University; University of Pennsylvania; University of Texas System; University of Texas Austin
  摘要：Research Summary: Exploiting a whistleblower's leak of the American Legislative Exchange Council's (ALEC) corporate sponsors, we quasi-replicate and extend Werner's (2017) event study of investor reaction to covert corporate political activity (CPA). Werner found that investors reacted positively to the accidental disclosure of covert ties to the Republican Governors Association. In contrast, when we apply the same research design to the ALEC leak, we find that, on average, firms tied to ALEC ...
• Retaining problems or solutions? The post-acquisition performance implications of director retention AI翻译
  作者：Campbell, Robert J.; Busenbark, John R.; Graffin, Scott D.; Boivie, Steven
  作者单位：University of Nebraska System; University of Nebraska Lincoln; University of Notre Dame; University System of Georgia; University of Georgia; Texas A&M University System; Texas A&M University College Station
  摘要：Research Summary: Director retention is a common practice during acquisitions, whereby the acquiring firm adds at least one director from the target onto its board. Despite the regularity of the phenomenon, little is understood about the post-acquisition financial implications of director retention. In this exploratory study, we investigate the financial impact (via long-term investor value appropriation) of director retention in a sample of acquisitions among publicly traded firms. Our empiri...
• Do R&D investments in weak IPR countries destroy market value? The role of internal linkages AI翻译
  作者：Belderbos, Rene; Park, Jinhyuck (Joseph); Carree, Martin
  作者单位：KU Leuven; Maastricht University; Maastricht University; NEOMA Business School
  摘要：Research Summary The growth of emerging economies has attracted R&D investments by multinational enterprises, but firms have struggled to protect their knowledge assets in these environments with weak intellectual property rights protection. Knowledge misappropriation may be reduced if firms use cross-unit R&D teams to strengthen intra-firm interdependencies and control. We examine the relationship between such internal linkage strategies, foreign R&D investments, and firm market valuation in ...