Annual Conference

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Corporate Finance

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May 2014

Changing Corporate Governance Norms: Evidence from Dual Class Shares in the U.K.

Fabio BRAGGION, Mariassunta GIANNETTI
In the UK, between 1955 and 1970, dual class shares quickly lost popularity without any regulatory intervention. The decline in the use of dual class shares was positively correlated with the relative valuations of one-share-one-vote and dual class firms, which in turn was related to media pessimism...
Keywords: Corporate governance, Dual class shares, Investor demand, Public debate
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Members' Digest

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2018

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May 2018

Chairing a Bankosaurus: Has the Meteor Landed, or can Banks Evolve and Survive?

Howard DAVIES
Keywords: Howard DAVIES (Royal Bank of Scotland)
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Senior Fellows/Fellows

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Senior Fellows/Fellows, 2018

Chairing a Bankosaurus: Has the meteor landed, or can banks evolve and survive

Howard DAVIES
Chairing a Bankosaurus
Keywords: Howard DAVIES (Royal Bank of Scotland)
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Annual Conference

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Corporate Finance

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May 2014

CEO Turnover and Earnings Management in Banks: Evidence Using Age-based Retirement Policies

Prasanna TANTRI, Arkodipta SARKAR, Krishnamurthy SUBRAMANIAN
We examine the effect of CEO turnover on earnings management in banks. Since banking is intrinsically an opaque activity, we hypothesize that an incoming CEO of a bank is more likely to manage earnings than a counterpart in a non financial firm. To identify the hypothesized effects, we exploit exoge...
Keywords: Banks, CEO, CEO turnover, Earnings Management, financial crisis, Public Sector Banks, Retirement, Superannuation, Tenure
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Annual Conference

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Corporate Finance

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May 2022

CEO Hometown Favoritism in Corporate Environmental Policies

Qifei ZHU, Wei LI, Qiping XU
We exploit within-firm variations in plant-level toxic releases to document the effect of managerial hometown favoritism on corporate environmental policies. We find that pollution intensity is 20% lower for plants near CEOs’ hometowns, and this reduction is facilitated by waste management efforts...
Keywords: CEO, Hometown favoritism, Corporate environmental policies, Corporate social responsibility (CSR)
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