In this paper, we investigate the corporate governance and ethical practices of firms in emerging technologies. We argue that because they have unique characteristics and face unique institutional challenges and legitimacy controversies, compared to their nonemerging technology counterparts, these firms tend to over-conform with respect to their corporate governance and ethical practices. Drawing on corporate governance deviance theory and legitimacy theory, we develop a number of hypotheses, which we test using data from 68 matched pairs based in the USA for the period 2009-2017. Our findings indicate that emerging technology firms over-conform regarding both corporate governance and ethical practices, yet, despite such over-conformity, they have lower legitimacy levels compared to their non-emerging technology counterparts.
We shed light on the drivers and consequences of turnover in human resources for the UK football industry. We employ an event study using daily panel data of player transfers for a group of listed UK football clubs. Our results suggest asymmetric wealth effects: the acquisition of players is associated with negative abnormal club stock returns while player sales have an opposite effect. According to our findings, shareholders perceive that football managers overpay to acquire human resources. Our discussion draws possible links to the corporate finance literature which deals with the purchase and sale of firms and assets.
scite is a Brooklyn-based organization that helps researchers better discover and understand research articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by students and researchers from around the world and is funded in part by the National Science Foundation and the National Institute on Drug Abuse of the National Institutes of Health.