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  1. Philosophy of Money and Finance.Boudewijn De Bruin, Lisa Maria Herzog, Martin O'Neill & Joakim Sandberg - 2018 - In Edward Zalta (ed.), Stanford Encyclopedia of Philosophy. Palo Alto: Metaphysics Research Lab, Stanford University.
  2. What’s Wrong With Ponzi Schemes? Trust and Its Exploitation in Financial Investment.Ben Almassi - 2018 - International Journal of Applied Philosophy 32 (1):111-126.
    The role of trust in financial investment has been a matter of some contention, one often obscured by two misconceptions: that financial relationships are fit only for wary predictive reliance where trust has no rational basis, and that in those relationships where trust is operative it must be worth preserving. Following Baier’s contention that trust, like air, is more easily seen when polluted, here I consider Ponzi schemes as exemplars of corrupt and polluted trust. Without attending to the role of (...)
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  3. Linking Societal Trust and CEO Compensation.Kiridaran Kanagaretnam, Abdul-Rahman Khokhar & Amin Mawani - 2018 - Journal of Business Ethics 151 (2):295-317.
    We examine the association between societal trust and the levels of CEO compensation and the proportion of equity-based compensation of 897 firm-years from 18 countries over the 2007–2013 period. We find both the levels of CEO compensation as well as the proportion of equity-based compensation to be lower in countries with higher levels of societal trust. This suggests that costly regulations on CEO compensation may not be as necessary in jurisdictions with higher levels of societal trust. We also examine the (...)
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  4. Funding the Arts: An Investment in Global Citizenship?V. A. Howard - 2001 - Journal of Aesthetic Education 35 (4):83.
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  5. Do Corporate Social Performance Targets in Executive Compensation Contribute to Corporate Social Performance?Karen Maas - 2018 - Journal of Business Ethics 148 (3):573-585.
    To deal with potential conflicts between the triple-bottom-line expectations of investors and the performance of executives, firms can use incentives by integrating corporate social performance targets into executive compensation. No evidence yet exists that CSP targets in executive compensation actually lead to an improvement of CSP results. Using a panel data set of 400 firms for the years 2008–2012 leading to 1846 firm-year observations, the relationships between CSP targets and CSP results and CSP improvements are analyzed. The results show that (...)
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  6. Ethical Reputation of Financial Institutions: Do Board Characteristics Matter?Laura Baselga-Pascual, Antonio Trujillo-Ponce, Emilia Vähämaa & Sami Vähämaa - 2018 - Journal of Business Ethics 148 (3):489-510.
    This paper examines the association between board characteristics and the ethical reputation of financial institutions. Given the pivotal governance role of the board of directors and the value-relevance of ethical corporate behavior, we postulate a positive relationship between ethical reputation and board features that foster more effective monitoring and oversight. Using a sample of large financial institutions from 13 different countries, we run several alternative panel regressions of ethical reputation on board characteristics and firm-specific controls. Our results demonstrate that the (...)
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  7. Can Institutional Investors Bias Real Estate Portfolio Appraisals? Evidence From the Market Downturn.Neil Crosby, Steven Devaney, Colin Lizieri & Patrick McAllister - 2018 - Journal of Business Ethics 147 (3):651-667.
    This paper investigates the extent to which institutional investors may have influenced independent real estate appraisals during the financial crisis. A conceptual model of the determinants of client influence on real estate appraisals is proposed. It is suggested that the extent of clients’ ability and willingness to bias appraisal outputs is contingent upon market and regulatory environments, the salience of the appraisal to the client, financial incentives for the appraiser to respond to client pressure, organisational culture, the level of moral (...)
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  8. Gender Biases in Bank Lending: Lessons From Microcredit in France.Anastasia Cozarenco & Ariane Szafarz - 2018 - Journal of Business Ethics 147 (3):631-650.
    The evidence on gender discrimination in lending remains controversial. To capture gender biases in banks’ loan allocations, we observe the impact on the applicants of a microfinance institution and exploit the natural experiment of a regulatory change imposing a strict EUR 10,000 loan ceiling on microcredit. Descriptive statistics indicate that the presence of the ceiling is associated both with bank-MFI co-financing and with harsher treatment of female borrowers. To investigate causal links, we develop an econometric approach that addresses the concerns (...)
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  9. Giving the Gift of Goodness: An Exploration of Socially Responsible Gift-Giving.Todd Green, Julie Tinson & John Peloza - 2016 - Journal of Business Ethics 134 (1):29-44.
    Previous research demonstrates that consumers support firms’ CSR activities, and increasingly demand socially responsible products and services. However, an implicit assumption in the extant literature is that the purchaser and the consumer of the product are the same person. The current research focuses on a unique form of socially responsible consumption behavior: gift-giving. Through 30 depth consumer interviews, we develop a typology of consumers based on whether consumers integrate CSR-related information into purchases, and whether the purchases are for themselves or (...)
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  10. Institutional Investors, Political Connections, and the Incidence of Regulatory Enforcement Against Corporate Fraud.Wenfeng Wu, Sofia A. Johan & Oliver M. Rui - 2016 - Journal of Business Ethics 134 (4):709-726.
    We investigate two under-explored factors in mitigating the risk of corporate fraud and regulatory enforcement against fraud, namely institutional investors and political connections. The role of institutional investors in the effective monitoring of a firm’s management is well established in the literature. We further observe that firms that have a large proportion of their shares held by institutional investors have a lower incidence of enforcement actions against corporate fraud. The importance of political connections for enterprises, whether in a developed market (...)
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  11. Ownership Structure and Insider Trading: Evidence From China.Qing He & Oliver M. Rui - 2016 - Journal of Business Ethics 134 (4):553-574.
    In this paper, we examine the information content of insider transactions in China and analyze how ownership structures shape market reaction to these transactions. We find that the cumulative abnormal return to insider purchases is a convex function of the percentage of shares owned by the largest shareholder. Further, the CAR to insider purchases is lower when the largest shareholder is government-related, or when the control rights of the largest shareholder exceed its cash flow rights. We also find that the (...)
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  12. Sustainable and Ethical Entrepreneurship, Corporate Finance and Governance, and Institutional Reform in China.Douglas Cumming, Wenxuan Hou & Edward Lee - 2016 - Journal of Business Ethics 134 (4):505-508.
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  13. Family Control, Socioemotional Wealth and Earnings Management in Publicly Traded Firms.Geoffrey Martin, Joanna Tochman Campbell & Luis Gomez-Mejia - 2016 - Journal of Business Ethics 133 (3):453-469.
    We examine the unique nature of agency problems within publicly traded family firms by investigating the earnings management decision of dominant family owners relative to non-family. To do so, we draw upon literature demonstrating that family owners are loss averse with respect to the family’s socioemotional wealth, or the affective endowment derived from firm ownership and control. Our theory and findings suggest that potential reputational consequences of earnings management lead family principals to engage in less of this practice relative to (...)
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  14. Regulatory Multiplicity and Conflict: Towards a Combined Code on Corporate Governance in Nigeria.Louise Osemeke & Emmanuel Adegbite - 2016 - Journal of Business Ethics 133 (3):431-451.
    Given the multiplicity of codes designed to regulate different stakeholders in terms of promoting good corporate governance, this paper examines areas of conflicts among the various codes and the associated implications for corporate governance practices and regulatory compliances by public-listed Nigerian firms. Using the conflict-signalling theory for developing the conceptual framework, this study examines the proliferation of codes in Nigeria, through a mixed method approach to provide an exploratory account of the implications of corporate governance regulatory multiplicity. Evidence suggests the (...)
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  15. Is Corporate Governance in China Related to Performance Persistence?Lars Helge Haß, Sofia Johan & Denis Schweizer - 2016 - Journal of Business Ethics 134 (4):575-592.
    This paper examines the relationship between performance persistence and corporate governance. We document systematic differences in performance persistence across listed companies in China during 2001–2011, and empirically demonstrate that firms with better corporate governance show higher performance persistence. The results are robust over both the short and long terms. We also find that performance persistence is an important factor in refinancing, and it can lower companies’ costs of borrowing. Overall, our findings offer important implications for business ethics, as we demonstrate (...)
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  16. Late Disclosure of Insider Trades: Who Does It and Why?Millicent Chang & Yilin Lim - 2016 - Journal of Business Ethics 133 (3):519-531.
    We attempt to understand the personal incentives that motivate corporate insiders to engage in unethical behavior such as delayed trade disclosure. Delayed disclosure affects corporate transparency and other shareholders in the firm potentially suffer investment losses because they are unaware of insiders’ activities. Using archival data from the 300 largest Australian firms between 2007 and 2011, the results show that risk factors such as insider age and tenure and wealth effects in the form of insider shareholdings affect the likelihood of (...)
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  17. Is There a Gold Social Seal? The Financial Effects of Additions to and Deletions From Social Stock Indices.Konstantina Kappou & Ioannis Oikonomou - 2016 - Journal of Business Ethics 133 (3):533-552.
    This study investigates the financial effects of additions to and deletions from the most well-known social stock index: the MSCI KLD 400. Our study makes use of the unique setting that index reconstitution provides and allows us to bypass possible issues of endogeneity that commonly plague empirical studies of the link between corporate social and financial performance. By examining not only short-term returns but also trading activity, earnings per share, and long-term performance of stocks that are involved in these events, (...)
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  18. Exploring Factors That Influence Social Retail Investors’ Decisions: Evidence From Desjardins Fund.Dominique Diouf, Tessa Hebb & El Hadji Touré - 2016 - Journal of Business Ethics 134 (1):45-67.
    Most studies on the choices, motivations and behavior of investors consist of segmentations focused on socio-demographic characteristics such as age, income, education level, etc. Such approaches seem to simplify, even mutilate, reality by aggregating data about observable variables and considering investors as homogeneous groups. These perspectives are inspired by a scientific approach that consists of separating in order to better understand the observed phenomena. By considering individual as a “homo economicus”, that is to say, a rational and autonomous individual who (...)
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  19. Corporate Social Responsibility in Challenging and Non-Enabling Institutional Contexts: Do Institutional Voids Matter?Kenneth Amaeshi, Emmanuel Adegbite & Tazeeb Rajwani - 2016 - Journal of Business Ethics 134 (1):135-153.
    The extant literature on comparative Corporate Social Responsibility often assumes functioning and enabling institutional arrangements, such as strong government, market and civil society, as a necessary condition for responsible business practices. Setting aside this dominant assumption and drawing insights from a case study of Fidelity Bank, Nigeria, we explore why and how firms still pursue and enact responsible business practices in what could be described as challenging and non-enabling institutional contexts for CSR. Our findings suggest that responsible business practices in (...)
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  20. Social Capital, Informal Governance, and Post-IPO Firm Performance: A Study of Chinese Entrepreneurial Firms.Jerry X. Cao, Yuan Ding & Hua Zhang - 2016 - Journal of Business Ethics 134 (4):529-551.
    Social capital can serve as informal governance in weak investor-protection regimes. Using hand-collected data on entrepreneurs’ political connections and firm ownership, we construct several original measures of social capital and examine their effect on the performance of entrepreneurial firms in China after their initial public offerings. Political connections or a high percentage of external investors tend to enhance firm performance, but intragroup related-party transactions commonly lead to performance decline. These forms of social capital have a strong influence on the performance (...)
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  21. A Study of Codes of Ethics for Mexican Microfinance Institutions.Lauren Kleynjans & Marek Hudon - 2016 - Journal of Business Ethics 134 (3):397-412.
    Most scholarly interest in codes of ethics or conduct has focused on traditional companies. Little is known about the codes of social enterprises or hybrid organizations such as microfinance institutions. Our paper provides a comparative case study of the codes of a Mexican microfinance network and seven MFIs. Using the corporate integrity model, we analyze the content of MFIs’ codes compared to those of traditional organizations. We then examine to what extent some specific features of MFIs such as their mission, (...)
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  22. A Credit Score System for Socially Responsible Lending.Begoña Gutiérrez-Nieto, Carlos Serrano-Cinca & Juan Camón-Cala - 2016 - Journal of Business Ethics 133 (4):691-701.
    Ethical banking, microfinance institutions or certain credit cooperatives, among others, grant socially responsible loans. This paper presents a credit score system for them. The model evaluates social and financial aspects of the borrower. The financial aspects are evaluated under the conventional banking framework, by analysing accounting statements and financial projections. The social aspects try to quantify the loan impact on the achievement of Millennium Development Goals such as employment, education, environment, health or community impact. The social credit score model should (...)
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  23. The Influence of Environmental Management Systems on Financial Performance: A Moderated-Mediation Analysis.Taiwen Feng & Dan Wang - 2016 - Journal of Business Ethics 135 (2):265-278.
    This study utilizes hierarchical regression analysis to explore how environmental management systems influence financial performance through customer satisfaction and customer loyalty, and the moderating effects of switching cost. The originality of the present research is to unpack the “black box” through which a firm can profit from EMSs. The empirical results indicate that EMSs have positive and significant impacts on customer satisfaction, customer loyalty, and financial performance. In addition, switching cost negatively and significantly moderates the relationship between EMSs and customer (...)
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  24. Corporate Socially Responsible Initiatives and Their Effects on Consumption of Green Products.Simona Romani, Silvia Grappi & Richard P. Bagozzi - 2016 - Journal of Business Ethics 135 (2):253-264.
    Corporate social responsibility research has focused often on the business returns of corporate social initiatives but less on their possible social returns. We study an actual company–consumer partnership CSR initiative promoting ecologically correct and conscious consumption of bottled mineral water. We conduct a survey on adult consumers to test the hypotheses that consumer skepticism toward the company–consumer partnership CSR initiative and the moral emotion of elevation mediate the relationship between company CSR motives perceived by consumers and consumer behavioral responses following (...)
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  25. Do Socially Responsible Investment Policies Add or Destroy European Stock Portfolio Value?Benjamin Auer - 2016 - Journal of Business Ethics 135 (2):381-397.
    Using a new dataset of environmental, social, and corporate governance company ratings for the European market, this article examines whether socially responsible stock selection adds or destroys value in terms of portfolio performance. From 2004 to 2012, we find the following: Negative screens excluding unrated stocks from a representative European stock universe allow investors to significantly outperform a passive investment in a diversified European stock benchmark portfolio. Additional negative screens based on environmental and social scores neither add nor destroy portfolio (...)
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  26. Executive Compensation and Corporate Fraud in China.Martin J. Conyon & Lerong He - 2016 - Journal of Business Ethics 134 (4):669-691.
    This study investigates the relation between CEO compensation and corporate fraud in China. We document a significantly negative correlation between CEO compensation and corporate fraud using data on publicly traded firms between 2005 and 2010. Our findings are consistent with the hypothesis that firms penalize CEOs for fraud by lowering their pay. We also find that CEO compensation is lower in firms that commit more severe frauds. Panel data fixed effects and propensity score methods are used to demonstrate these effects. (...)
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  27. Green Microfinance in Europe.Davide Forcella & Marek Hudon - 2016 - Journal of Business Ethics 135 (3):445-459.
    Microfinance institutions are alternative financial providers offering financial services to people typically excluded from the standard banking sector. While most MFIs are active in developing countries, there is also a young and developing microfinance sector in Europe; however, very little literature exists on this MFI segment. In this paper, we analyze the environmental performance of 58 European MFIs. Our results suggest that the size of the MFI, investor concern for environmental performance and, to a lesser extent, donor interest, are closely (...)
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  28. Corporate Political Donations: Influences From Directors’ Networks.Yi Lu, Greg Shailer & Mark Wilson - 2016 - Journal of Business Ethics 135 (3):461-481.
    Motivated by contemporary debates concerning whether directors inappropriately deploy corporate funds for corporate political donations and the limited research into managerial influence on corporate political donations, we examine the impact of director influences from a network perspective. Using a sample of large listed Australian corporations and their political party donation activity during 2000–2007, we find that both the professional and non-professional networks of directors influence corporate political donations. We observe these influences in relation to donations at the federal and state (...)
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  29. Identifying the Determinants of the Decision to Create Socially Responsible Funds: An Empirical Investigation.Jonathan Peillex & Loredana Ureche-Rangau - 2016 - Journal of Business Ethics 136 (1):101-117.
    This paper proposes an empirical assessment of the main factors behind the decision of a corporate sponsor to launch a socially responsible fund. Our analysis is performed on a database that encompasses 414 SR fund creations by 46 corporate sponsors between 1990 and 2012. We provide evidence that economic and human resources slack, leverage, low media coverage and high extra-financial performance of the corporate sponsor contribute to an increase of the probability to propose SR funds. These results lead us to (...)
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  30. Responsible Investing of Pension Assets: Links Between Framing and Practices for Evaluation.Darlene Himick & Sophie Audousset-Coulier - 2016 - Journal of Business Ethics 136 (3):539-556.
    Despite the increase in the acceptance of responsible investing in general, the global community is still witnessing unprecedented levels of practices that can only be categorized as “unsustainable”. It appears, then, that either the inroads made by the RI community have not kept up with the increase in unsustainable practices, or, that the RI process itself has been ineffective at producing meaningful change. The current study aims to investigate the practices used by pension plan sponsors to determine how they may (...)
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  31. Erratum To: Corporate Socially Responsible Initiatives and Their Effects on Consumption of Green Products.Simona Romani, Silvia Grappi & Richard P. Bagozzi - 2016 - Journal of Business Ethics 135 (2):399-399.
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  32. Ethical Screening and Financial Performance: The Case of Islamic Equity Funds.Yunieta Nainggolan, Janice How & Peter Verhoeven - 2016 - Journal of Business Ethics 137 (1):83-99.
    Whether ethical screening affects portfolio performance is an important question that is yet to be settled in the literature. This paper aims to shed further light on this question by examining the performance of a large global sample of Islamic equity funds from 1984 to 2010. We find that IEFs underperform conventional funds by an average of 40 basis points per month, consistent with the underperformance hypothesis. In line with popular media claims that Islamic funds are a safer investment, IEFs (...)
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  33. What is Different About Socially Responsible Funds? A Holdings-Based Analysis.Jacquelyn E. Humphrey, Geoffrey J. Warren & Junyan Boon - 2016 - Journal of Business Ethics 138 (2):263-277.
    We provide a comprehensive analysis of differences between socially responsible investment and conventional funds in terms of manager characteristics, performance and fund styles. We use holdings-based analysis to evaluate fund performance and style, which allows us to perform a more in-depth analysis than the extant literature. We find that SRI managers have longer tenure and are more likely to be a female. However, these differences do not result in any significant difference in the performance of SRI and conventional funds. Further, (...)
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  34. Do They Know It’s CSR at All? An Exploration of Socially Responsible Music Consumption.Todd Green, Gary Sinclair & Julie Tinson - 2016 - Journal of Business Ethics 138 (2):231-246.
    The increasing visibility and elevated status of musicians has become prominent in contemporary society as a consequence of technological advances and the development of both mass and specialized targeted audiences. Consequently, the actions of musicians are under greater levels of scrutiny and fans demand more from musicians than ‘just’ music. If the industry demands corporate social responsibility practices in a similar vein to how corporations promote themselves; a further question then remains regarding how the increasing prominence of such activities by (...)
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  35. Securities Lending Activities in Mutual Funds and ETFs: Ethical Considerations.Lee M. Dunham, Randy Jorgensen & Ken Washer - 2016 - Journal of Business Ethics 139 (1):21-28.
    Securities lending has been a lucrative business for mutual funds and exchange-traded funds over the past decade. Unfortunately for investors, the sponsors of these funds have not been very transparent with the details of their securities lending programs, and consequently most investors in these funds are unaware of their exposure to the risks inherent in securities lending. Interestingly, most funds do not return the full profits from securities lending activities to their investors. In this paper, we examine and discuss the (...)
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  36. ESG Integration and the Investment Management Process: Fundamental Investing Reinvented.Emiel van Duuren, Auke Plantinga & Bert Scholtens - 2016 - Journal of Business Ethics 138 (3):525-533.
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  37. Environmentally Responsible and Conventional Market Indices’ Reaction to Natural and Anthropogenic Adversity: A Comparative Analysis.Christos Kollias & Stephanos Papadamou - 2016 - Journal of Business Ethics 138 (3):493-505.
    It is widely claimed that climate change has increased the magnitude and the frequency of natural phenomena such as storms, droughts, and floods with the concomitant costs in terms of damages and victims. This paper using weekly data from global stock market indices in a Fama–French model, examines how and to what extent market agents and investors react to such events. As a yardstick for comparison purposes, the possible market impact of industrial accidents is also incorporated and examined in the (...)
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  38. The Economics of Insider Trading: A Free Market Perspective.Taylor Smith & Walter E. Block - 2016 - Journal of Business Ethics 139 (1):47-53.
    We deny that asymmetrical information is a market failure. In order to make this case, we subject to critical scrutiny the strongest case for this thesis: the view that laws prohibiting insider trading are viable, necessary, or compatible with the rule of law.
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  39. The Impact of the Dual Board Structure and Board Diversity: Evidence From Chinese Initial Public Offerings.Hisham Farag & Chris Mallin - 2016 - Journal of Business Ethics 139 (2):333-349.
    Chinese listed companies have a two-tier governance structure that comprises a supervisory board/committee and the board of directors. However, as there is no hierarchical relationship between them, the two boards are independent. This is different from the governance mechanism in Continental Europe in which the SB appoints the directors of the management board; in this sense, the Chinese two-tier governance structure is unique. We investigate the impact of governance characteristics and ownership structure on gender diversity of both the BoD and (...)
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  40. CSR Performance and the Value of Cash Holdings: International Evidence.Mohamed Arouri & Guillaume Pijourlet - 2017 - Journal of Business Ethics 140 (2):263-284.
    Using a worldwide sample, we examine whether corporate social responsibility performance has an impact on the value of cash holdings. We find that investors assign a higher value to cash held by firms that have a high CSR rating. This result is consistent with the idea that CSR policies are a means for managers to act in the shareholders’ interests by mitigating conflicts with stakeholders. Finally, we reveal that CSR performance has a positive impact on the value of cash holdings (...)
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  41. The Association Between Gender-Diverse Compensation Committees and CEO Compensation.Martin Bugeja, Zoltan Matolcsy & Helen Spiropoulos - 2016 - Journal of Business Ethics 139 (2):375-390.
    We examine the association between gender-diverse compensation committees and CEO pay and find that CEO compensation levels are negatively associated with gender-diversity of the compensation committee, but not gender-diversity of the board. Furthermore, we find that excess CEO compensation is negatively related to subsequent return on assets for firms with an all-male compensation committee but not for firms with a gender-diverse compensation committee. These results suggest that CEOs do receive some level of excess compensation which can be mitigated by having (...)
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  42. Political Connectedness, Corporate Governance, and Firm Performance.Polona Domadenik, Janez Prašnikar & Jan Svejnar - 2016 - Journal of Business Ethics 139 (2):411-428.
    In this paper, we present and test a theory of how political connectedness affects corporate governance and productive efficiency of firms. Our model predicts that underdeveloped democratic institutions that do not punish political corruption result in political connectedness of firms that in turn has a negative effect on performance. We test this prediction on an almost complete population of Slovenian joint-stock companies with 100 or more employees. Using the data on supervisory board structure, together with balance sheet and income statement (...)
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  43. The Opportunity Cost of Negative Screening in Socially Responsible Investing.Pieter Jan Trinks & Bert Scholtens - 2017 - Journal of Business Ethics 140 (2):193-208.
    This paper investigates the impact of negative screening on the investment universe as well as on financial performance. We come up with a novel identification process and as such depart from mainstream socially responsible investing literature by concentrating on individual firms’ conduct and by studying a much wider range of issues. Firstly, we study the size and financial performance of fourteen potentially controversial issues: abortion, adult entertainment, alcohol, animal testing, contraceptives, controversial weapons, fur, gambling, genetic engineering, meat, nuclear power, pork, (...)
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  44. Improving Diversification Opportunities for Socially Responsible Investors.María del Mar Miralles-Quirós & José Luis Miralles-Quirós - 2017 - Journal of Business Ethics 140 (2):339-351.
    Socially responsible investment has grown enormously and has expanded globally in recent years. It allows SRI investors to reduce their portfolio risk assumptions through international diversification. In this context, the aim of this paper is twofold to examine price and volatility linkages among the most representative SRI indexes for North America, Europe, and Asia-Pacific employing a multivariate approach and to provide the out-of-sample performance of an optimal portfolio constructed on the basis of time-varying return and volatility forecasts from this specification (...)
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  45. Mutual Fund Activism and Market Regulation During the Pre-IFRS Period: The Case of Earnings Informativeness in China From an Ethical Perspective.Shujun Ding, Chunxin Jia & Zhenyu Wu - 2016 - Journal of Business Ethics 138 (4):765-785.
    This paper investigates the emerging effect of mutual fund involvement on the agency problem between majority and minority shareholders during the pre-IFRS period in China indicated by earnings informativeness from an ethical perspective. We find that the presence of mutual fund hampers earnings informativeness implying that mutual funds in general, at their early stage in China, are not yet capable of serving as an effective monitor. This finding is in sharp contrast to the role of institutional investors in mature markets (...)
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  46. Evaluating a Socially Responsible Employment Program: Beneficiary Impacts and Stakeholder Perceptions.Matthew Walker, Stephen Hills & Bob Heere - 2017 - Journal of Business Ethics 143 (1):53-70.
    Although many organizations around the world have engaged in corporate social responsibility programing, there is little evidence of social impact. This is a problematic omission since many programs carry the stigma of marketing ploys used to bolster organizational image or reduce consumer skepticism. To address this issue and build on existing scholarship, the purpose of this study was to evaluate a socially responsible youth employability program in the United Kingdom. The program was developed through the foundation of a professional British (...)
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  47. Religiosity, Attitude, and the Demand for Socially Responsible Products.Johan Graafland - 2017 - Journal of Business Ethics 144 (1):121-138.
    In this paper, we examine the relationship between various Christian denominations and attitude and behavior regarding consumption of socially responsible products. Literature on the relationship between religiosity and pro-social behavior has shown that religiosity strengthens positive attitudes towards pro-social behavior, but does not affect social behavior itself. This seems to contradict the theory of planned behavior that predicts that attitude fosters behavior. One would therefore expect that if religiosity encourages attitude towards SR products, it would also increase the demand for (...)
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  48. Individual Ethical Orientations and the Perceived Acceptability of Questionable Finance Ethics Decisions.Mac Clouse, Robert A. Giacalone, Tricia D. Olsen & Lorenzo Patelli - 2017 - Journal of Business Ethics 144 (3):549-558.
    Finance is an area that, in practice, is plagued by accusations of unethical activity; the study of finance had adopted a largely nonbehavioral approach to business ethics research. We address this gap in by assessing whether individual ethical orientations predict the acceptability of questionable decisions about financial issues. Results show that individual ethical orientations are associated with different levels of acceptability of questionable decisions about financial issues, though the pattern of these differences varies across individual ethical orientations assessed. These results (...)
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  49. Religiosity and the Volatility of Stock Prices: A Cross-Country Analysis.Benjamin Blau - 2017 - Journal of Business Ethics 144 (3):609-621.
    Prior research argues that religiosity increases the ethical behavior and levels of risk aversion of firm managers. To the extent that this is true, more religious countries might exhibit more stability in stock prices. This study tests this assertion by determining whether religiosity in countries is negatively associated with volatility in financial markets. Using a unique empirical design, we account for the possibility that the structure of financial markets is endogenously related to a country’s religiosity by examining the volatility of (...)
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  50. Ethical Issues for Autonomous Trading Agents.Michael P. Wellman & Uday Rajan - 2017 - Minds and Machines 27 (4):609-624.
    The rapid advancement of algorithmic trading has demonstrated the success of AI automation, as well as gaps in our understanding of the implications of this technology proliferation. We explore ethical issues in the context of autonomous trading agents, both to address problems in this domain and as a case study for regulating autonomous agents more generally. We argue that increasingly competent trading agents will be capable of initiative at wider levels, necessitating clarification of ethical and legal boundaries, and corresponding development (...)
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