Reported corporate misconducts : the impact on the financial markets

Ichev, Riste (avtor)

This study empirically examines how reported corporate misconducts affect the stock returns of US firms. As the reported misconducts are broadcasted in the newspaper outlets, the cumulative abnormal return (CAR) is -4.1%. Involvement in a reported corporate misconduct gets punished by market participants especially when the act of reported misconduct is blamed on the level of the corporation rather than in involvement of a specific individual, when reported misconducts take place in the home market, and when the linguistic tone used in the newspaper article is negative. Financial penalties imposed, firm size, leverage, revenue growth, and the level of firm foreign exposure are found to have significant impact on the returns during the period of observation. The results suggest that investors recognize the importance to penalize firms in the financial markets when firms act unethically.

• Jezik: Angleški jezik
• Ključne besede: corporations, financial markets, investments, finance, stock markets, linguistic geography, human rights, regression analysis, economic impact analysis, speech signal processing
• Vrsta gradiva: Članek v reviji
• Tipologija: 1.01 - Izvirni znanstveni članek
• Organizacija: EF - Ekonomska fakulteta
• Status publikacije: Objavljeno
• Različica publikacije: Objavljena publikacija
• Leto izida: 2022
• Št. strani: 12 str.
• Številčenje: Vol. 18, iss. 2, art. e0276637
• PID: 20.500.12556/RUL-145693
• UDK: 005.3
• ISSN pri članku: 1932-6203
• DOI: 10.1371/journal.pone.0276637
• COBISS.SI-ID: 125803523
• Datum objave v RUL: 09.05.2023

Gradivo je del revije

• Naslov: PloS one
• Založnik: PLOS
• ISSN: 1932-6203
• COBISS.SI-ID: 2005896

Licence

• Licenca: CC BY 4.0, Creative Commons Priznanje avtorstva 4.0 Mednarodna
• Povezava: http://creativecommons.org/licenses/by/4.0/deed.sl
• Opis: To je standardna licenca Creative Commons, ki daje uporabnikom največ možnosti za nadaljnjo uporabo dela, pri čemer morajo navesti avtorja.

Sekundarni jezik

• Jezik: Slovenski jezik
• Ključne besede: korporacije, finančni trg, investicije

Projekti

• Financer: ARRS - Agencija za raziskovalno dejavnost Republike Slovenije
• Številka projekta: P5-0161
• Naslov: Izzivi vlagateljev, podjetij, finančnih institucij in države v negotovem evropskem gospodarskem okolju