Download or read book Firm Value Effects of Targeted Disclosure Regulation written by Katharina Hombach and published by . This book was released on 2019 with total page 70 pages. Available in PDF, EPUB and Kindle. Book excerpt: We study the reputational costs of targeted disclosure regulation - disclosure requirements aimed at policy objectives outside of securities regulators' traditional missions. This emerging type of disclosure regulation empowers civil society to deter firms' illicit actions. Our setting is the SEC's extraction payments disclosure rule, which requires oil and gas firms to publish details about their payments to host governments. Consistent with reputational costs imposed on affected firms, our event-study results document that the rule's negative effect on firm value is stronger where greater reputational risk makes firms more vulnerable to public pressure. Our qualitative field evidence suggests that reputational costs arise because the required disclosures facilitate pressure groups' campaigning. These findings are robust to several alternative explanations and research design choices.
Download or read book The Effects of Disclosure Regulation of an Innovative Firm written by Jos Jansen and published by . This book was released on 2005 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Effects of Disclosure Regulation of an Innovative Firm written by and published by . This book was released on 2005 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Forcing Firms to Talk written by Anat R. Admati and published by . This book was released on 2009 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper we analyze a model of voluntary disclosure by firms in financial markets. We focus on externalities that arise when firm values are correlated and the disclosures made by one firm affect the valuation of other firms. In our model, firms can choose the precision of their disclosure, and disclosure, which is costly, has social value. In the case of one firm, we uncover interesting economies of scale in the value of the disclosure, which lead to discontinuities in the optimal disclosure policy as parameters of the model change. For example, the optimal precision may jump from zero to a positive level when the prior precision regarding the firm's value is at a threshold level. For the case of multiple firms, we show that because of the externality in the firms' valuation, the Nash equilibrium disclosure policies are often socially inefficient. Thus, there is scope for disclosure regulation to improve welfare. We study the possibilities of mandating a minimal precision level for the disclosure or setting a system of subsidies that reduce the perceived cost of disclosure. While both methods can sometimes improve welfare, for each method there are cases (where firms differ in their cost or other parameters) where welfare is not improved. Neither of these methods of regulation dominates the other in all situations.
Download or read book EPA Enforcement written by United States. Environmental Protection Agency and published by . This book was released on 1972 with total page 418 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Legal Aspects of Shaming An Ancient Sanction in the Modern World written by Meital Pinto and published by Edward Elgar Publishing. This book was released on 2023-09-06 with total page 311 pages. Available in PDF, EPUB and Kindle. Book excerpt: Offering an original legal definition of shaming, this incisive book argues for greater attention to shaming by legal scholars and practitioners. Suggesting nuanced procedures to regulate shaming in diverse areas of law, it seeks to make shaming by legal entities legitimate and effective, and to use legal mechanisms to limit inappropriate shaming in non-legal contexts.
Download or read book Model Rules of Professional Conduct written by American Bar Association. House of Delegates and published by American Bar Association. This book was released on 2007 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Model Rules of Professional Conduct provides an up-to-date resource for information on legal ethics. Federal, state and local courts in all jurisdictions look to the Rules for guidance in solving lawyer malpractice cases, disciplinary actions, disqualification issues, sanctions questions and much more. In this volume, black-letter Rules of Professional Conduct are followed by numbered Comments that explain each Rule's purpose and provide suggestions for its practical application. The Rules will help you identify proper conduct in a variety of given situations, review those instances where discretionary action is possible, and define the nature of the relationship between you and your clients, colleagues and the courts.
Download or read book Advances in Financial Economics written by Kose John and published by Emerald Group Publishing. This book was released on 2013-12-18 with total page 269 pages. Available in PDF, EPUB and Kindle. Book excerpt: Advances in Financial Economics Vol. 16 contains a set of empirical papers by a set of global scholars who examine corporate governance and market regulation from a variety of perspectives.
Download or read book The Oxford Handbook of Corporate Social Responsibility written by Abagail McWilliams and published by Oxford University Press. This book was released on 2019-10-29 with total page 736 pages. Available in PDF, EPUB and Kindle. Book excerpt: Corporate social responsibility (CSR) continues to grow as an area of interest in academia and business. Encompassing broad topics such as the relationship between business, society, and government, environmental issues, globalization, and the social and ethical dimensions of management and corporate operation, CSR has become an increasingly interdisciplinary subject relevant to areas of economics, sociology, and psychology, among others. New directions in CSR research include advanced 'micro' based investigations in organizational behaviour and human resource management, additional studies of environmental social responsibility and sustainability, further research on 'strategic' CSR, connections between social responsibility and entrepreneurship, and improvements in methods and data analysis as the field matures. Through authoritative contributions from international scholars across the social sciences, this Handbook provides a cohesive overview of this recent expansion. It introduces new perspectives, new methodologies, and new evidence from a range of disciplines to encourage and facilitate interdisciplinary research and global implementation of corporate social responsibility.
Download or read book Losing the Excess Baggage written by and published by . This book was released on 2011 with total page 137 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Firm Value written by Paolo Saona Hoffmann and published by BoD – Books on Demand. This book was released on 2018-08-01 with total page 151 pages. Available in PDF, EPUB and Kindle. Book excerpt: This edited volume aims to discuss the most contemporary state of the determinants of the firm value. This book presents theoretical works as well as empirical studies that contrast the arguments offered by the leading, ground-breaking theories on the firm value. What variables determine the firm value? Are these determinants controllable or uncontrollable by the managers of the companies? Is the impact of corporate governance systems on the firm value symmetrical between different institutional contexts? Do the financial reports affect the value of the firm? What role does corporate social responsibility play as a determinant of the firm value? These and other questions are analyzed and scrutinized step by step throughout this book.
Download or read book The Influence of Blockholders on Agency Costs and Firm Value written by Markus P. Urban and published by Springer. This book was released on 2015-11-04 with total page 494 pages. Available in PDF, EPUB and Kindle. Book excerpt: Markus P. Urban investigates the influence of large shareholders (the so-called blockholders) on agency costs and firm value, thereby accounting for blockholder characteristics and blockholder interrelationships. The work provides a profound theoretical and empirical analysis on the nature and effect of shareholder engagement with due regard to the specifics of the German institutional environment. Its empirical results illustrate that the effect of shareholder engagement depends on the characteristics of the specific blockholder as well as on interrelationships with additional blockholders.
Download or read book Limited Dependent and Qualitative Variables in Econometrics written by G. S. Maddala and published by Cambridge University Press. This book was released on 1986-06-27 with total page 418 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents the econometric analysis of single-equation and simultaneous-equation models in which the jointly dependent variables can be continuous, categorical, or truncated. Despite the traditional emphasis on continuous variables in econometrics, many of the economic variables encountered in practice are categorical (those for which a suitable category can be found but where no actual measurement exists) or truncated (those that can be observed only in certain ranges). Such variables are involved, for example, in models of occupational choice, choice of tenure in housing, and choice of type of schooling. Models with regulated prices and rationing, and models for program evaluation, also represent areas of application for the techniques presented by the author.
Download or read book Business Sustainability Factors of Performance Risk and Disclosure written by Zabihollah Rezaee and published by Business Expert Press. This book was released on 2021-03-08 with total page 82 pages. Available in PDF, EPUB and Kindle. Book excerpt: Business Sustainability Factors of Performance, Risk, and Disclosure examines sustainability factors of performance, risk and disclosure. The five dimensions of sustainability performance are economic, governance, social, ethical, and environmental (EGSEE). Business sustainability is advancing from the greenwashing and branding to, very recently, business imperative as shareholders demand, regulators require, and companies report their sustainability performance. Sustainability has become economic and strategic imperative with potential to create opportunities and risks for businesses. Business Sustainability Factors of Performance, Risk, and Disclosure examines sustainability factors of performance, risk and disclosure. The five dimensions of sustainability performance are economic, governance, social, ethical, and environmental (EGSEE). Sustainability risks are reputational, strategic, operational, compliance, and financial (RSOCF). Sustainability disclosures are relevant to financial economic sustainability performance (ESP) and non-financial environmental, social, and governance (ESG) sustainability performance with ethics are integrated into all other components of sustainability performance. This book offers guidance for proper measurement, recognition, and reporting of all five EGSEE dimensions of sustainability performance. It also highlights how people, business, and resources collaborate in a business sustainability and accountability model in creating shared value for all stakeholders. The three sustainability factors of performance, risk and disclosure are driven from the stakeholder primacy concept with the mission of profit-with-purpose. Anyone who is involved with business sustainability and corporate governance, the financial reporting process, investment decisions, legal and financial advising, and audit functions will benefit from this book.
Download or read book Report of the Committee on the Financial Aspects of Corporate Governance written by Committee on the Financial Aspects of Corporate Governance and published by . This book was released on 1992 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Rise of Fiduciary Capitalism written by James P. Hawley and published by University of Pennsylvania Press. This book was released on 2000-10-06 with total page 268 pages. Available in PDF, EPUB and Kindle. Book excerpt: Traces the rise of public and private pension funds, which now control as much as 50 percent of the equity in American corporations, and argues that shareholders in those funds could use their power to make corporations more responsive to social needs.
Download or read book Mandatory Non financial Risk Related Disclosure written by Stefania Veltri and published by Springer Nature. This book was released on 2020-07-31 with total page 176 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book focuses on the impact of the disclosure of non-financial risk, which could be seen as the most relevant non-financial information (NFI), in the aftermath of the 2014/95/EU Directive. The author analyses whether the switch from voluntary to mandatory NFI enhance the quality of disclosed NF risk-related information and the usefulness of the risk disclosure for investors. The book focuses specifically on the mandatory disclosure of non-financial (NF) risks as required by the EU Directive for listed Italian companies, investigating both the state of art of its disclosure and its usefulness for investors. In doing so, the book contributes to fill two relevant gaps in risk literature. The first research gap is related to the insufficient investigation of the disclosure of NF risks. Companies mandated to disclose risk-related information focused mainly on financial risks, in spite of the width of the definition of risk, conceived as information about any opportunity, danger, threat, or exposure that has or could impact the company in the future. The second gap is that empirical evidence about the effects of corporate risk disclosures is still limited, and the potential benefits of the disclosure of information on risks have not been fully explored. In particular, the relationship between risk disclosures and firm value is under researched, as the risk literature mainly focuses on the incentives question, related to the motives for which companies decide to disclose. The research in this book focuses on Italy, a country that provides a unique opportunity to examine the impact of mandatory NF risk disclosure on firm market value, being one of the biggest industrial European countries that had not mandatory legislation for NFI disclosure, and also one of the leading countries in voluntary corporate social responsibility (CSR) reporting at an international level. It has been carried out in the fiscal year 2017, the first year of the application of the mandatory NF disclosure for obliged Italian listed PIEs. The book contributes both to the measurement literature, as it presents a self-constructed quality NF risks and to the value relevance analysis literature, providing evidence of the usefulness of financial and non-financial risk-related disclosures in the Italian context.
