| 1. |
- Giannetti, Mariassunta, et al.
(författare)
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Corporate Scandals and Household Stock Market Participation
- 2016
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Ingår i: Journal of Finance. - : Wiley: No OnlineOpen. - 1540-6261 .- 0022-1082. ; 71:6, s. 2591-2636
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Tidskriftsartikel (refereegranskat)abstract
- We show that, after the revelation of corporate fraud in a state, household stock market participation in that state decreases. Households decrease holdings in fraudulent as well as nonfraudulent firms, even if they do not hold stocks in fraudulent firms. Within a state, households with more lifetime experience of corporate fraud hold less equity. Following the exogenous increase in fraud revelation due to Arthur Andersen's demise, states with more Arthur Andersen clients experience a larger decrease in stock market participation. We provide evidence that the documented effect is likely to reflect a loss of trust in the stock market.
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| 2. |
- Giannetti, Mariassunta, et al.
(författare)
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Public Attention to Gender Equality and Board Gender Diversity
- 2023
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Ingår i: Journal of Financial and Quantitative Analysis. - : Cambridge University Press (CUP): HSS Journals. - 1756-6916 .- 0022-1090. ; 58:2, s. 485-511
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Tidskriftsartikel (refereegranskat)abstract
- We document that heightened public attention to gender equality is associated with an increase in board gender diversity. Improvements in diversity are more pronounced in firms with a corporate culture that is already sympathetic to gender equality. When public attention to gender equality increases, firms reach out to a larger pool of women, such as women without industry experience or outside their network, but female director appointments do not appear to be dilutive of the board’s skills. Instead, we observe less reliance on connections for director appointments and a decrease in the propensity to appoint connected men. © 2022 Cambridge University Press. All rights reserved.
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| 3. |
- Giannetti, Mariassunta, et al.
(författare)
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Public Attention to Gender Equality and Board Gender Diversity
- 2020
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Annan publikation (övrigt vetenskapligt/konstnärligt)abstract
- We explore whether public attention to gender equality is associated with an increase in female board representation. We find that firms are sensitive to changes in public attention to gender equality. However, the effects are mostly driven by firms whose ex ante culture is more sympathetic to gender equality. Greater female board representation is achieved thanks to the broadening of the pool of female directors and a reduction in the appointments of connected men, without any obvious compromises on directors’ quality. We show that public attention to gender equality is not merely driven by investor pressure and other corporate changes. Instead, changing societal demands driven by political and public events appear to be associated with changes in corporate leadership.
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| 4. |
- Giannetti, Mariassunta, et al.
(författare)
-
Public Attention to Gender Equality and the Demand for Female Directors
- 2020
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Annan publikation (övrigt vetenskapligt/konstnärligt)abstract
- We explore whether demand factors contribute to low female board participation. We use time-varying public attention to gender equality as a shock that differentially affects the demand for female directors of firms with different ex ante culture towards gender equality. We find that public attention is associated with an increase in female board representation, especially in firms whose ex ante culture is more sympathetic to gender equality. Furthermore, public attention to gender equality changes the way female directors are recruited. First, the pool of female directors broadens without any obvious compromises on quality. Second, public attention to gender equality reduces the probability that connected men are appointed, leading to higher female board representation
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