Do corporate managers believe in luck? Evidence of the Chinese zodiac effect

ABSTRACT Shareholder litigation is an important part of the regulation of securities markets that can influence corporate managers' reporting behavior. Prior research shows that conventional economic factors affect investors' litigation decisions. We use experimental markets to examine whether investors engage in costly litigation even without a direct financial incentive to do so and whether this affects managers' reporting decisions and managers' and investors' welfare. We find that investors frequently litigate when they can impose a financial penalty on managers for misreporting even though they cannot recover their legal fees or receive restitution for their losses. Moreover, this deters managers' shirking and misreporting and improves managers' and investors' welfare almost as effectively as when investors can recover their legal fees and receive restitution for their losses. Overall, our results indicate that, in addition to financial incentives, investors' desire to punish misreporting plays an important role in their litigation decisions, and that may yield substantial welfare benefits.

Download Full-text

Does Employee Care Trigger Innovation Under a Healthy and Safe Working Environment? Evidence from the Pharmaceutical Industry in China

Healthcare ◽

10.3390/healthcare9020194 ◽

2021 ◽

Vol 9 (2) ◽

pp. 194

Author(s):

Minghui Yang ◽

Qian Lin ◽

Petra Maresova

Keyword(s):

Safety Management ◽

Positive Impact ◽

Health And Safety ◽

Working Environment ◽

Firm Innovation ◽

Corporate Managers ◽

Pharmaceutical Firms ◽

Corporate Ability ◽

Safe Working

Sustainability of the workforce becomes a crucial issue, of which responsible care for employees can increase job satisfaction and human capital that impact corporate ability to absorb and generate new knowledge. Firms are obligated to provide a healthy and safe working environment for their employees, but it may in turn hinder innovation due to rigid and structured institutional regulations. Drawing on data of 308 China’s pharmaceutical firms from 2010 to 2017, we investigated whether employee care can trigger innovation under corporate adoption of the occupational health and safety management system (OHSMS). Our results suggest that both employee care and OHSMS adoption have a positive impact on innovation. Moreover, the positive relationship between employee care and innovation was more pronounced in firms that had adopted the OHSMS certification. These findings are valuable to policymakers and corporate managers in emerging economies through corroborating the important role of workforce sustainability in facilitating firm innovation.

Download Full-text

The good night kiss: fatherhood among corporate managers and the reconfiguration of hegemonic masculinity in Chile

NORMA ◽

10.1080/18902138.2017.1362536 ◽

2017 ◽

Vol 12 (3-4) ◽

pp. 240-255 ◽

Cited By ~ 2

Author(s):

Sebastián Madrid

Keyword(s):

Hegemonic Masculinity ◽

Good Night ◽

Corporate Managers

Download Full-text

Psychological, behavioral and biochemical risk factors for coronary artery disease among American and Italian male corporate managers

The American Journal of Cardiology ◽

10.1016/0002-9149(92)90291-6 ◽

1992 ◽

Vol 70 (18) ◽

pp. 1412-1416 ◽

Cited By ~ 14

Author(s):

Maurizio Fava ◽

Andrew Littman ◽

Stefania Lamon-Fava ◽

Richard Milani ◽

David Shera ◽

...

Keyword(s):

Risk Factors ◽

Coronary Artery Disease ◽

Coronary Artery ◽

Corporate Managers ◽

Artery Disease

Download Full-text

Global Leaders for Global Teams: Leaders with Multicultural Experiences Communicate and Lead More Effectively, Especially in Multinational Teams

Organization Science ◽

10.1287/orsc.2021.1480 ◽

2021 ◽

Author(s):

Jackson G. Lu ◽

Roderick I. Swaab ◽

Adam D. Galinsky

Keyword(s):

Field Experiments ◽

Leadership Effectiveness ◽

Digital Health ◽

Theoretical Perspective ◽

Communication Competence ◽

Performance Measure ◽

Corporate Managers ◽

Effective Leaders ◽

Multicultural Experiences ◽

English Premier League

In an era of globalization, it is commonly assumed that multicultural experiences foster leadership effectiveness. However, little research has systematically tested this assumption. We develop a theoretical perspective that articulates how and when multicultural experiences increase leadership effectiveness. We hypothesize that broad multicultural experiences increase individuals’ leadership effectiveness by developing their communication competence. Because communication competence is particularly important for leading teams that are more multinational, we further hypothesize that individuals with broader multicultural experiences are particularly effective when leading more versus less multinational teams. Four studies test our theory using mixed methods (field survey, archival panel, field experiments) and diverse populations (corporate managers, soccer managers, hackathon leaders) in different countries (Australia, Britain, China, America). In Study 1, corporate managers with broader multicultural experiences were rated as more effective leaders, an effect mediated by communication competence. Analyzing a 25-year archival panel of English Premier League soccer managers, Study 2 replicates the positive effect of broad multicultural experiences using a team performance measure of leadership effectiveness. Importantly, this effect was moderated by team national diversity: soccer managers with broader multicultural experiences were particularly effective when leading teams with greater national diversity. Study 3 (digital health hackathon) and Study 4 (COVID-19 policy hackathon) replicate these effects in two field experiments, in which individuals with varying levels of multicultural experiences were randomly assigned to lead hackathon teams that naturally varied in national diversity. Overall, our research suggests that broad multicultural experiences help leaders communicate more competently and lead more effectively, especially when leading multinational teams.

Download Full-text

Contemporary issues in financial reporting, auditing and corporate governance

10.32890/9789670474564 ◽

2013 ◽

Author(s):

Noor Afza Amran

Keyword(s):

Corporate Governance ◽

Financial Reporting ◽

Ethnic Diversity ◽

Good Governance ◽

Internal Auditors ◽

Corporate Managers ◽

Auditor Choice ◽

External Auditors ◽

Expectation Gap ◽

Corporate Social

Contemporary Issues in Financial Reporting, Auditing and Corporate Governance offers theoretical and empirical background on three fundamental areas of accounting, namely financial reporting, auditing and corporate governance.This book is written in a clear and reader-friendly manner to create readers interest in the central issues of discussion. The uniqueness of this book is in its extensive coverage of national and internationally-oriented issues of financial reporting, auditing and corporate governance. This book is ideal for accounting and business related courses at upper undergraduate and post-graduate levels. With its broad coverage, the book should also be of interest to academicians, professionals, corporate managers, regulatory bodies and researchers.The articles written in this book are: Corporate Social Responsibility and Post-Crisis StrategyEmployee Stock Options Popularity of Financial Ratios in the Annual ReportsThe Relationship between Pension Funds and Dividend PayoutDoes Audit Firm Merger Add Value to Its Clients? Co-operation between Internal and External Auditors: From the Perspective of Internal Auditors in Malaysian Local Authorities Auditor Choice: Events and TheoriesThe Global Audit Expectation Gap: Within and between Muslim CountriesOwnership Holdings: Selected Malaysian Family Businesses Ethnic Diversity in Malaysian Initial Public OfferingsCEO Succession in Malaysian PLCs: Does Firm Characteristic Make a Difference?A Framework of Good Governance: Lessons for the Inland Revenue Board Malaysia.

Download Full-text

Corporate Law Reform and the Political Environment: An Empirical Analysis Employing Public-Comment Procedure Data in Japan

Asian Journal of Law and Society ◽

10.1017/als.2017.11 ◽

2017 ◽

Vol 4 (2) ◽

pp. 309-328

Author(s):

Hatsuru MORITA

Keyword(s):

Business Environment ◽

Corporate Law ◽

Law Reform ◽

The Political ◽

Political Environment ◽

Reform Process ◽

Corporate Managers ◽

Legal Professionals ◽

Public Comment ◽

Technical Issues

AbstractCorporate law shapes the fundamental business environment and affects various stakeholders. It is possible to determine the behaviour of various stakeholders by examining the politics of the reform process of corporate law. In order to understand the process, this paper uses the notice-and-comment procedure (public-comment procedure). Under this procedure, people submit comments to the Ministry of Justice; some of the comments are reflected in the final Bill, while others are not. The paper performs a quantitative analysis of a hand-collected dataset from two recent public-comment procedures on corporate law reform. The results showed that the bureaucrats are rigid and not willing to take public comments seriously. However, on some technical issues, legal academics, and legal professionals influence the behaviour of the bureaucrats. In addition, the bureaucrats employed these comments to honour the technical views of professionals. In other cases, corporate managers significantly influence the reform process.

Download Full-text

An Assessment of the Effectiveness of e-learning in Corporate Training Programs

The International Review of Research in Open and Distributed Learning ◽

10.19173/irrodl.v3i1.83 ◽

2002 ◽

Vol 3 (1) ◽

Cited By ~ 61

Author(s):

Judith B. Strother

Keyword(s):

Classroom Instruction ◽

Training Programs ◽

Corporate Training ◽

Cost Effective ◽

Traditional Classroom ◽

Corporate Managers ◽

Travel Costs ◽

E Learning ◽

Traditional Classroom Instruction ◽

Time Away

<P class=abstract>Corporate managers are constantly looking for more cost-effective ways to deliver training to their employees. E-learning is less expensive than traditional classroom instruction. In addition, many expenses - booking training facilities, travel costs for employees or trainers, plus employee time away from the job - are greatly reduced. However, some firms that have spent large amounts of money on new e-learning efforts have not received the desired economic advantages. </P>

Download Full-text