The topic of corporate distress and turnaround has been of interest to organizational change
theory for many decades. This article considers existing reviews in discussing the current …

DiMaggio and Powell (1983) argued that organizations, in their quest for legitimacy, are
subjected to isomorphic pressures which produce increasing similarity among peer …

ABSTRACT I exploit the adoption of state‐level labor protection laws as an exogenous
increase in employee firing costs to examine how the costs associated with discharging …

We investigate how the market for corporate control (external governance) and shareholder
activism (internal governance) interact. A portfolio that buys firms with the highest level of …

This study empirically investigates the dismissal of US CEOs following negative media
coverage of environmental, social, and governance (ESG) practices. Extending related …

Historically, bubbles are followed by crashes, which in turn are followed by punitive
legislation. The 1999–2003 era is fully consistent with this pattern….(Coffee, 2003a, p. 46) …

Shareholder activism in the Untied States is by no means a new phenomenon. In the early
1900s, American financial institutions such as insurance companies, mutual funds, and …

We report evidence on chief executive officer (CEO) turnover during the 1971 to 1994
period. We find that the nature of CEO turnover activity has changed over time. The …

This study examines the effect of firm-level corporate governance on the cost of equity
capital in emerging markets and how the effect is influenced by country-level legal protection …

We show that higher institutional ownership causes firms to pay more dividends. Our
identification relies on a discontinuity in ownership around Russell index thresholds. Our …