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Ethics and Disclosure: A Study of the Financial Performance of Firms in the Seasoned Equity Offerings Market

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  • Hoje Jo

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  • Yongtae Kim

Abstract

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Suggested Citation

  • Hoje Jo & Yongtae Kim, 2008. "Ethics and Disclosure: A Study of the Financial Performance of Firms in the Seasoned Equity Offerings Market," Journal of Business Ethics, Springer, vol. 80(4), pages 855-878, July.
  • Handle: RePEc:kap:jbuset:v:80:y:2008:i:4:p:855-878
    DOI: 10.1007/s10551-007-9473-6
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    References listed on IDEAS

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    1. Navarro, Peter, 1988. "Why Do Corporations Give to Charity?," The Journal of Business, University of Chicago Press, vol. 61(1), pages 65-93, January.
    2. repec:bla:joares:v:32:y:1994:i:1:p:38-60 is not listed on IDEAS
    3. van de Ven, Bert & Jeurissen, Ronald, 2005. "Competing Responsibly," Business Ethics Quarterly, Cambridge University Press, vol. 15(02), pages 299-317, April.
    4. Jo, Hoje & Kim, Yongtae, 2007. "Disclosure frequency and earnings management," Journal of Financial Economics, Elsevier, vol. 84(2), pages 561-590, May.
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    6. Skinner, Douglas J., 1997. "Earnings disclosures and stockholder lawsuits," Journal of Accounting and Economics, Elsevier, vol. 23(3), pages 249-282, November.
    7. Kothari, S.P. & Leone, Andrew J. & Wasley, Charles E., 2005. "Performance matched discretionary accrual measures," Journal of Accounting and Economics, Elsevier, vol. 39(1), pages 163-197, February.
    8. Merton, Robert C, 1987. " A Simple Model of Capital Market Equilibrium with Incomplete Information," Journal of Finance, American Finance Association, vol. 42(3), pages 483-510, July.
    9. Burgstahler, David & Dichev, Ilia, 1997. "Earnings management to avoid earnings decreases and losses," Journal of Accounting and Economics, Elsevier, vol. 24(1), pages 99-126, December.
    10. Paul Hribar, 2002. "Errors in Estimating Accruals: Implications for Empirical Research," Journal of Accounting Research, Wiley Blackwell, vol. 40(1), pages 105-134, March.
    11. Catherine M. Paul & Donald Siegel, 2006. "Corporate social responsibility and economic performance," Journal of Productivity Analysis, Springer, vol. 26(3), pages 207-211, December.
    12. Ronald Hill & Thomas Ainscough & Todd Shank & Daryl Manullang, 2007. "Corporate Social Responsibility and Socially Responsible Investing: A Global Perspective," Journal of Business Ethics, Springer, vol. 70(2), pages 165-174, January.
    13. Fama, Eugene F. & French, Kenneth R., 1993. "Common risk factors in the returns on stocks and bonds," Journal of Financial Economics, Elsevier, vol. 33(1), pages 3-56, February.
    14. Teoh, Siew Hong & Welch, Ivo & Wong, T. J., 1998. "Earnings management and the underperformance of seasoned equity offerings," Journal of Financial Economics, Elsevier, vol. 50(1), pages 63-99, October.
    15. N. Kreander & R.H. Gray & D.M. Power & C.D. Sinclair, 2005. "Evaluating the Performance of Ethical and Non-ethical Funds: A Matched Pair Analysis," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 32(7-8), pages 1465-1493.
    16. repec:bla:joares:v:31:y:1993:i:2:p:246-271 is not listed on IDEAS
    17. Fama, Eugene F, 1970. "Efficient Capital Markets: A Review of Theory and Empirical Work," Journal of Finance, American Finance Association, vol. 25(2), pages 383-417, May.
    18. Chung, Kee H. & Jo, Hoje, 1996. "The Impact of Security Analysts' Monitoring and Marketing Functions on the Market Value of Firms," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 31(04), pages 493-512, December.
    19. Rangan, Srinivasan, 1998. "Earnings management and the performance of seasoned equity offerings," Journal of Financial Economics, Elsevier, vol. 50(1), pages 101-122, October.
    20. Jay C. Hartzell & Laura T. Starks, 2003. "Institutional Investors and Executive Compensation," Journal of Finance, American Finance Association, vol. 58(6), pages 2351-2374, December.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Hoje Jo & Maretno Harjoto, 2011. "Corporate Governance and Firm Value: The Impact of Corporate Social Responsibility," Journal of Business Ethics, Springer, vol. 103(3), pages 351-383, October.
    2. Dongyoung Lee, 2017. "Corporate Social Responsibility and Management Forecast Accuracy," Journal of Business Ethics, Springer, vol. 140(2), pages 353-367, January.
    3. Yusnidah Ibrahim & Md Mohan Uddin & Kamarun Nisham Taufil Mohd & Mohd Sobri Minai, 2013. "Agency Costs and the Long-Run Performance of Debt Issuers," Asian Academy of Management Journal of Accounting and Finance (AAMJAF), Penerbit Universiti Sains Malaysia, vol. 9(1), pages 67-87.
    4. Naveed Yazdani & Hasan Murad, 2015. "Toward an Ethical Theory of Organizing," Journal of Business Ethics, Springer, vol. 127(2), pages 399-417, March.
    5. David Mason & Carola Hillenbrand & Kevin Money, 2014. "Are Informed Citizens More Trusting? Transparency of Performance Data and Trust Towards a British Police Force," Journal of Business Ethics, Springer, vol. 122(2), pages 321-341, June.
    6. Faris Nasif AL- Shubiri & Abedalfattah Zuhair Al-abedallat & Marwan Mohammad Abu Orabi, 2012. "Financial and Non Financial Determinants of Corporate Social Responsibility," Journal of Knowledge Management, Economics and Information Technology, ScientificPapers.org, vol. 2(5), pages 1-7, October.
    7. Begoña Giner & Francisca Pardo, 2015. "How Ethical are Managers’ Goodwill Impairment Decisions in Spanish-Listed Firms?," Journal of Business Ethics, Springer, vol. 132(1), pages 21-40, November.
    8. Hoje Jo & Maretno Harjoto, 2012. "The Causal Effect of Corporate Governance on Corporate Social Responsibility," Journal of Business Ethics, Springer, vol. 106(1), pages 53-72, March.
    9. Chris Bell & Kelley Main, 2011. "Deonance and Distrust: Motivated Third Party Information Seeking Following Disclosure of an Agent’s Unethical Behavior," Journal of Business Ethics, Springer, vol. 102(1), pages 77-96, August.
    10. Maretno Harjoto & Hoje Jo, 2015. "Legal vs. Normative CSR: Differential Impact on Analyst Dispersion, Stock Return Volatility, Cost of Capital, and Firm Value," Journal of Business Ethics, Springer, vol. 128(1), pages 1-20, April.
    11. repec:kap:jbuset:v:148:y:2018:i:3:d:10.1007_s10551-015-3003-8 is not listed on IDEAS
    12. repec:eee:intfin:v:52:y:2018:i:c:p:240-261 is not listed on IDEAS

    More about this item

    Keywords

    G14; G24; G32; M14; M41; ethics; social responsibility; disclosure; earnings management; seasoned equity offerings; long-term; post-issue performance;

    JEL classification:

    • G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies; Insider Trading
    • G24 - Financial Economics - - Financial Institutions and Services - - - Investment Banking; Venture Capital; Brokerage
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility
    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting

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