Annual Conference

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Corporate Finance, Senior Fellows/Fellows

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May 2015

Theoretical models of groups suggest that sub-group usage can affect communication among members and group decision-making. To examine the trade-offs from forming sub-groups, we assemble a detailed dataset on corporate boards (groups) and committees (sub-groups). Boards have increasingly used commit...
Keywords: board of directors, Committee, Decision-Making, Sarbanes-Oxley
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Annual Conference

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Investment Finance, Senior Fellows/Fellows

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May 2019

The determination of asset prices and the identification of related economic grounds are considerately more intricate in the global market due to the potential market segmentation and frictions. In this paper, we propose and test a novel intuition that cross-country mispricing can be identified when...
Keywords: mispricing, Segmented markets, ADR
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Annual Conference

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Accounting

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May 2018

Using U.S. Department of Justice data on political corruption convictions, I examine how political corruption affects firms’ earnings management. I find that companies headquartered in more corrupt states manipulate earnings downwards. The findings are robust to six alternative corruption measures...
Keywords: Earnings Management, Political Corruption, Rent Seeking
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Annual Conference

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Economic Transformation of Asia, Senior Fellows/Fellows

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May 2018

We study how adverse economic shocks influence political outcomes in authoritarian regimes in strong states, by examining the 2013-2015 export slowdown in China. We exploit detailed customs data and the variation they reveal about Chinese prefectures’ underlying exposure to the global trade slowdo...
Keywords: Political economy, export slowdown, economic shocks
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Annual Conference

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Economic Transformation of Asia, Senior Fellows/Fellows

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May 2018

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