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20JUNE2022
Cristina Grande (Bayes Business School)
Race to Board Independence: Evidence on strategic compliance with corporate governance regulation
10.0.27
Time : 13:00h.
 
15JUNE2022
Laura Gail Lunsford (Campbell University)
On Destructive Leadership
10.2.10
Time : 13:00h.
 
13JUNE2022
Jing Zhou (Rice University)
Effects of power on creative idea endorsement
10.2.08
Time : 13:00h.
 
09JUNE2022
Ioanid Rosu (HEC Paris)
Dynamic Adverse Selection and Liquidity
10.2.11
Time : 13:00h.
 
02JUNE2022
Jian Zhou (University of Hawaii at Manoa)
Creditor Governance and Mandatory Information Disclosure Quality
10.2.11
Time : 13:00h.
 
31MAY2022
Effie Kesidou (University of Leeds)
Penalty Zones in International Sustainability Standards: Where Improved Sustainability Doesn’t Pay
10.2.12
Time : 13:00h.

ABSTRACT 

International Sustainability Standards (ISSs) help firms improve their sustainability performance and act as credible market “signals” that legitimize companies’ latent sustainability practices. Prior studies show a positive association between firms’ ISS signaling and their improved market value and sustainability performance. Our research suggests that signals behave differently when firms adopt multiple ISSs in that, beyond an optimum, ISS signals provide information, which investors devalue, causing firms’ market value to decline. Further, while we suggest that sustainability performance derived from adopting multiple ISSs also declines beyond an optimum, the number of ISSs that optimizes firms’ market value is less than the number that optimizes sustainability performance. We call this difference a performance “penalty zone,” where firms continue to improve their sustainability performance but at a market penalty. These findings offer important nuance to signaling theory and assumptions that improved sustainability pays.  

Keywords: International sustainability standards; market value; penalty zone; signaling theory; sustainability performance  

30MAY2022
Deepak Somaya (University of Illinois)
Why Unicorns Exist: Venture Scalability and the Valuation and Timing of Startup IPOs
10.0.27
Time : 13:00h.
 
18MAY2022
Iñaki Rodríguez Longarela (Stockholm University)
Online vs. Classroom: Course engagement and attention with large groups of students
Online / Contact business.seminars@uc3m.es
Time : 13:00h.
 
16MAY2022
Jeremy Bertomeu (Washington University in St. Louis)
Using Machine Learning to Measure Conservatism
10.2.10
Time : 13:00h.
 
09MAY2022
Gilad Livne (University of Bristol)
Does market competition weaken or enhance the informativeness of the loan loss provision?
In person - 10.2.2
Time : 13:00h.
 
29APRIL2022
Ilia D. Dichev (Emory University)
Defining and measuring conservatism using the fundamental relation between income and corresponding
10.0.12
Time : 13:00h.
25APRIL2022
Uri Simonsohn (ESADE Business School)
Interactiongate: Testing and Probing Interactions with Linear Models in the Real (Nonlinear) World i
Online / Contact business.seminars@uc3m.es
Time : 13:00h.