全球智库信息集成服务系统(G2TT): DP4636 Forecasting Time Series Subject to Multiple Structural Breaks

G2TT

来源类型	Discussion paper
规范类型	论文
来源ID	DP4636
	DP4636 Forecasting Time Series Subject to Multiple Structural Breaks
	M. Hashem Pesaran; Henry Allan Timmermann; Davide Pettenuzzo
发表日期	2004-09-23
出版年	2004
语种	英语
摘要	When stakeholder protection is left to the voluntary initiative of managers, relations with social activists may become an effective entrenchment strategy for inefficient CEOs. We thus argue that managerial turnover and firm value are increased by the institutionalization of stakeholder protection depriving incumbent CEOs of activists? support. This finding provides a rationale for the emergence of specialized institutions (social auditors and ethic indexes) that help firms commit to stakeholder protection even in case of managerial replacement. Our theory also explains a recent trend whereby social activist organizations and institutional shareholders are showing a growing support for each others? agenda.
主题	Financial Economics
关键词	Corporate governance Corporate social responsibility Managerial entrenchment Social activism Stakeholders
URL	https://cepr.org/publications/dp4636
来源智库	Centre for Economic Policy Research (United Kingdom)
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/533556
推荐引用方式 GB/T 7714	M. Hashem Pesaran,Henry Allan Timmermann,Davide Pettenuzzo. DP4636 Forecasting Time Series Subject to Multiple Structural Breaks. 2004.