Abstract This research examines the impact of environmental performance on firm value, applying event study methodology to Newsweek ’s ‘Green Rankings’ announcement 2012 for large US firms. Specifically, it analyzes absolute green score and rank firms their in stock market. We found that investors perceive as positive news, leading significant standardized cumulative abnormal returns (SCARs). After controlling industry‐ firm‐specific effects, we observed with repeated rankings enhancing...

Abstract This research investigates the relationship between a firm's environmental efforts and sustainability of its competitive advantage by analyzing effects change in firm performance on persistence profitability growth. We find that resources allow with superior financial to sustain advantage, also complement poorly performing hasten recovery from inferior performance. Our findings further indicate firms attain such positive through enhanced profit margins resulting improved...

The landscape of artificial intelligence (AI) has experienced a monumental shift with the emerging Generative AI (GenAI), which demonstrated to be transformative tool across diverse sectors. GenAI outputs can span various digital formats, including text, images, videos, and audio, generating particular interest in public sector. growing governments integrating technologies sector operations is marked by creation governance instruments formulation soft laws, like standards, principles,...

To overcome the image deterioration caused by pixel miniaturization resulting from high-resolution trend of CIS (CMOS sensor) technology, a photodiode working with an enhanced mechanism based on distinctive device structure existing one is considerably required. In this study, our photodiode, consisting gold nanoparticles/monolayer graphene/n-type trilayer MoS2/p-type Si bulk, achieved ultrafast rising/falling times 28.6 ns/30.4 ns due to spatially confined narrow depletion width (DW) 2D/3D...

Purpose Focusing on the Brazilian equity mutual fund industry, this study analyzes whether including investor sentiment index in asset pricing models is important for explaining alpha. Design/methodology/approach The and risk factors Fama French (1993) Carhart (1997) were estimated, risk-adjusted performance of a sample funds Brazil was evaluated, United States (US) included complementary perspective. period spans 2010–2019 2010–2018 US. Findings results contrasted with those evidenced US,...

Why do foreign firms obtain credit ratings by global rating agencies rather than from their home country's even though raters typically assign lower when these issue bonds in currencies? We find that rated a agency decreased yields 11‐14 basis points (bps) compared to those Japanese but, during the 2007‐2009 financial crisis, on increased 12‐17 bps, thus fully negating advantage of obtaining bond rater. This suggests reputation declined crisis period.

Abstract This study investigates whether a target firm's corporate social responsibility (CSR) performance creates value for shareholders. Our results indicate that CSR is stronger than of the acquirer firm yields higher premiums In addition, positive valuation effect more pronounced when well‐governed acquirers conduct takeover. evidence robust to several sensitivity tests. These imply favorable market reactions target's are due expectation reward shareholders with fair in merger and...

Abstract In this study, we investigate firms that the Korea Exchange claims have made unfaithful disclosures. We find such experience significantly negative stock price returns, suggesting their managements exploit information asymmetry involved in disclosures to expropriate shareholder wealth. Our evidence shows with higher management ownership a smaller decline returns following notices of unfaithfulness, implying corporate governance could improve overall environment and thus eventually...

Abstract We examine whether a strong alignment of the chief executive officer (CEO) and shareholders wealth induces or restrains firm's corporate social responsibility (CSR) engagement. CSR can enhance consistent with stakeholder theory. However, CEOs maximizing their own utilities have an incentive to overinvest resources for engagement at shareholders' expense. Therefore, CEO is expected lead engage less in some activities, particularly those are questionable only good CEO's private...

Abstract Manuscript Type Empirical Research Question/Issue We examine the relation between stock repurchases and their potential false signaling of undervaluation using unique K orean data. Findings/Insights find that firms repurchase stocks frequently are less undervalued have lower post‐announcement operating performance than infrequently. further agency cost industry‐adjusted T obin's Q frequent negatively affect abnormal returns from announcement. Corporate governance, especially...