Found 55 article(s) for author 'George Serafeim'

Corporate Reporting in the Big Data Era

Corporate Reporting in the Big Data Era. George Serafeim, April 29, 2014, Opinion. “Advancements in information technology can improve corporate communication with shareholders, but not through incessant data dumps. Instead, companies will more likely be poised for continued success if they use digital platforms for long-term oriented engagement and communication in the context of our changing global economy. This is characterized by increased demand for corporate transparency, heightened global competition leading to customer mobility, and resource scarcity that raises the importance of innovation in…” Link Verified October 11, 2014

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Integrated Reporting and Investor Clientele

Integrated Reporting and Investor Clientele. George Serafeim, April 4, 2014, Paper. “In this paper, I examine the relation between Integrated Reporting (IR) and the composition of a firm’s investor base. I hypothesize and find that firms that practice IR have a more long-term oriented investor base with more dedicated and fewer transient investors. This result is more pronounced for firms with high growth opportunities, not controlled by a family, operating in “sin” industries, and exhibiting more stable IR practice over time…” Link Verified October 11, 2014

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An Analysis of Firms’ Self-Reported Anticorruption Efforts

An Analysis of Firms’ Self-Reported Anticorruption Efforts. George Serafeim, March 2016, Paper, “We use Transparency International’s ratings of self-reported anticorruption efforts to analyze factors underlying the ratings. Our tests examine whether these disclosures reflect firms’ real efforts to combat corruption or are cheap talk. We find that the ratings are related to enforcement and monitoring, country and industry corruption risk, and governance variables. Controlling for these effects and other ratings determinants, we find that firms with lower residual ratings have higher subsequent citations in corruption news events.Link

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Market competition, earnings management, and persistence in accounting profitability around the world

Market competition, earnings management, and persistence in accounting profitability around the world, Paul Healy, George Serafeim, Suraj Srinivasan, Gwen Yu, January 14, 2014 , Paper. “We examine how cross-country differences in product, capital, and labor market competition, as well as earnings management affect mean reversion in accounting return on assets. Using a sample of 48,465 unique firms from 49 countries, we find that accounting returns mean revert faster in countries where there is more product and capital market competition, as predicted by economic theory…” Link

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The Impact of Corporate Social Responsibility on Investment Recommendations: Analysts’ Perceptions and Shifting Institutional Logics

The Impact of Corporate Social Responsibility on Investment Recommendations: Analysts’ Perceptions and Shifting Institutional Logics. George Serafeim, 2014, Paper. “We explore the impact of corporate social responsibility (CSR) ratings on sell-side analysts’ assessments of firms’ future financial performance. We suggest that when analysts perceive CSR as an agency cost, due to the prevalence of an agency logic, they produce pessimistic recommendations for firms with high CSR ratings. Moreover, we theorize that over time…” Link Verified October 11, 2014

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The Impact of Corporate Sustainability on Organizational Processes and Performance

The Impact of Corporate Sustainability on Organizational Processes and Performance. George Serafeim, Robert Eccles, 2014, Paper. “We investigate the effect of corporate sustainability on organizational processes and performance. Using a matched sample of 180 U.S. companies, we find that corporations that voluntarily adopted sustainability policies by 1993—termed as High Sustainability companies—exhibit by 2009 distinct organizational processes compared to a matched sample of companies that adopted almost none of these policies…” Link Verified October 11, 2014

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Attracting Long-Term Investors Through Integrated Thinking and Reporting: A Clinical Study of a Biopharmaceutical Company

Attracting Long-Term Investors Through Integrated Thinking and Reporting: A Clinical Study of a Biopharmaceutical Company. George Serafeim, 2014, Paper. “Faced with a large percentage of investors that chase short-term returns, companies could benefit by attracting investors with longer-term horizons and incentives that are more consistent with the long-term strategy of the company. The managers of most companies take their investor base as a “given” that cannot be changed through their actions or words. Using the case of Shire…” May require purchase or user account. Link Verified October 11, 2014

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Promoting Corporate Sustainability through Integrated Reporting: The Role of Investment Fiduciaries and the Responsibilities of the Corporate Board

Promoting Corporate Sustainability through Integrated Reporting: The Role of Investment Fiduciaries and the Responsibilities of the Corporate Board. Robert Eccles, George Serafeim, 2014, Book Chapter. “The Cambridge Handbook of Institutional Investment and Fiduciary Duty is a comprehensive reference work exploring recent changes and future trends in the principles that govern institutional investors and fiduciaries. A wide range of contributors offer new perspectives on dynamics that drive the current emphasis on short-term investment returns…” May require purchase or user account. Link Verified October 11, 2014

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Firm Competitiveness and Detection of Bribery

Firm Competitiveness and Detection of Bribery. George Serafeim, July 2013, Paper. “Using survey data collected from senior corporate executives around the world I analyze how detection of bribery impacts firm competitiveness. The data suggest that the most significant impact is on employee morale, followed by business relations and reputation, and then regulatory relations. I find that who initiated the bribery act, how it was detected, and how the firm responded after detection are all associated with the impact on a firm’s reputation, business relations, regulatory relations, and employee morale…” Link Verified October 11, 2014

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A Tale of Two Stories: Sustainability and the Quarterly Earnings Call

A Tale of Two Stories: Sustainability and the Quarterly Earnings Call. Robert Eccles, George Serafeim, Summer 2013, Paper. “One of the challenges companies claim to face in making sustainability a core part of their strategy and operations is that the market does not care about sustainability, either in general or because the time frames in which it matters are too long. The response of investors who say they care about sustainability—and their numbers are large and growing…” Link Verified October 11, 2014

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