All Outputs (12)

Is Chief Executive Officer optimistic belief bad for workers? Evidence from corporate employment decisions (2023)
Journal Article

Using a behavioural approach, we investigate how Chief Executive Officer optimism, defined as a personality trait where a person has optimistic beliefs about the outcome of future events, influences corporate employment decisions. Using data of publi... Read More about Is Chief Executive Officer optimistic belief bad for workers? Evidence from corporate employment decisions.

Is Chief Executive Officer optimistic belief bad for workers? Evidence from corporate employment decisions (2023)
Journal Article

Using a behavioural approach, we investigate how Chief Executive Officer optimism, defined as a personality trait where a person has optimistic beliefs about the outcome of future events, influences corporate employment decisions. Using data of publi... Read More about Is Chief Executive Officer optimistic belief bad for workers? Evidence from corporate employment decisions.

Social capital, environmental justice and carcinogenic waste releases: US county-level evidence, 1998–2019 (2023)
Journal Article

We examine the role of social capital in explaining the highly unequal regional distribution of firms’ carcinogenic releases. Our model predicts that social capital, by enabling information-sharing and coordination among community members, decreases... Read More about Social capital, environmental justice and carcinogenic waste releases: US county-level evidence, 1998–2019.

Herding with leading traders: Evidence from a laboratory social trading platform (2022)
Journal Article

We provide novel evidence about herd behavior and its impact on asset price bubbles in an experimental financial market. We find that traders imitate quotes of those with the highest wealth increases as ranked on the leader-boards, despite that no tr... Read More about Herding with leading traders: Evidence from a laboratory social trading platform.

Corporate diversification and downsizing decisions: International evidence from sharp and sudden performance shocks (2022)
Journal Article

While firms regularly reduce workforce following sharp performance decline, diversified firms may abstain from employment downsizing by transferring capital and labor between segments (the allocative flexibility effect). However, downsizing may be mo... Read More about Corporate diversification and downsizing decisions: International evidence from sharp and sudden performance shocks.

Corporate diversification, refocusing and shareholder voting (2021)
Journal Article

We examine if shareholders' attitude towards firm diversification strategy is revealed in their votes on management-initiated acquisition and divestment proposals using data on voting by shareholders of UK public firms between 1997 and 2019. We find... Read More about Corporate diversification, refocusing and shareholder voting.

Covid-19: Corporate diversification and post-crash returns (2021)
Journal Article

This paper examines the impact of corporate diversification on stock returns during and after the market crash caused by Covid-19. Using regression and survival analyses, we find that diversified firms experience worse returns and slower improvement... Read More about Covid-19: Corporate diversification and post-crash returns.

CEO overconfidence and bank systemic risk: Evidence from U.S. bank holding companies (2020)
Journal Article

Following the 2007–2008 financial crisis, the attention of financial regulators and academics has shifted from bank individual risk to bank systemic risk, that is, banks' exposure to future systemic crises. In this paper, we examine whether CEO overc... Read More about CEO overconfidence and bank systemic risk: Evidence from U.S. bank holding companies.

Labour market outcomes of different institutional regimes: evidence from the OECD countries (2020)
Journal Article

The rise of populism has been widely ascribed, at least in part, to an inability of national systems to generate decent employment or, indeed, stem its decline. This article explores the basis and nature of variations in labour market outcomes of dif... Read More about Labour market outcomes of different institutional regimes: evidence from the OECD countries.

Shareholder voting in mergers and acquisitions: evidence from the UK (2018)
Journal Article

This paper examines the determinants and consequences of shareholder voting on mergers and acquisitions using a sample of resolutions approved by shareholders of UK publicly listed firms from 1997 to 2015. We find that dissent on M&A resolutions is n... Read More about Shareholder voting in mergers and acquisitions: evidence from the UK.

Insider trading and financing constraints (2014)
Journal Article

Insider trading may alleviate financing constraints by conveying value‐relevant information to the market (the information effect) or may exacerbate financing constraints by impairing market liquidity and distorting insiders’ incentives to disclose v... Read More about Insider trading and financing constraints.

Employee productivity, employment growth, and the cross-border acquisitions by emerging market firms (2014)
Journal Article

We examine the impact of the cross‐border acquisitions made by firms from emerging markets on employee productivity and employment growth. The literature suggests that cross‐border acquisitions enable emerging market firms to obtain new skills and kn... Read More about Employee productivity, employment growth, and the cross-border acquisitions by emerging market firms.