1. Tae Hee Choi & Jinhan Pae (2011). Business Ethics and Financial Reporting Quality: Evidence From Korea. [REVIEW] Journal of Business Ethics 103 (3):403-427.
    This study examines the relationship between corporate commitment to business ethics and financial reporting quality. We posit that companies with a higher level of ethical commitment exhibit better quality financial reporting than those with a lower level of ethical commitment. Consistent with our prediction, we find that companies with a higher level of ethical commitment are engaged in less earnings management, report earnings more conservatively, and predict future cash flows more accurately than those with a lower level of ethical commitment. (...)
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  2. Jinhan Pae & Tae Hee Choi (2011). Corporate Governance, Commitment to Business Ethics, and Firm Valuation: Evidence From the Korean Stock Market. [REVIEW] Journal of Business Ethics 100 (2):323 - 348.
    A variety of stakeholders have long been interested in the factors that are related to firm valuation. This article investigates why companies with more comprehensive corporate governance (CG) have a value premium over companies with less comprehensive CG. We posit and find that the cost of equity capital (COC) decreases with the strength of CG, suggesting that the value premium stems from the lower COC for more comprehensive CG. We also find that the COC is lower for companies with strong (...)
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  3. Tae Hee Choi & Jinchul Jung (2008). Ethical Commitment, Financial Performance, and Valuation: An Empirical Investigation of Korean Companies. [REVIEW] Journal of Business Ethics 81 (2):447 - 463.
    A variety of stakeholders including investors, corporate managers, customers, suppliers, employees, researchers, and government policy makers have long been interested in the relationship between the financial performance of a corporation and its commitment to business ethics. As a subject of research, the relations between business ethics and corporate valuation has yet to be thoroughly quantified and investigated. This article is an effort to amend this inadequacy by demonstrating a statistically significant association between ethical commitment and corporate valuation measures. Consistent with (...)
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