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David M. Reeb
National University of Singapore
50Publications
21H-index
7,699Citations
Publications 50
Newest
Published on Nov 12, 2018in Financial Management 0.97
John C. Adams5
Estimated H-index: 5
(University of Texas at Arlington),
Darren K. Hayunga5
Estimated H-index: 5
(University of Georgia)
+ 2 AuthorsVincenzo Verardi12
Estimated H-index: 12
(Université de Namur)
Outliers represent a fundamental challenge in empirical finance research. We investigate whether the routine techniques used in finance research to identify and treat outliers are appropriate for the data structures we observe in practice. Specifically, we propose a multivariate identification strategy that can effectively detect outliers. We also introduce an estimator that minimizes the bias outliers cause in both cross-sectional and panel regressions and provide outlier mitigation guidance. U...
1 Citations Source Cite
Published on Aug 31, 2017in Management Science 3.54
Ping-Sheng Koh12
Estimated H-index: 12
,
David M. Reeb21
Estimated H-index: 21
,
Wanli Zhao5
Estimated H-index: 5
We investigate whether managerial traits influence corporate decisions to provide mandatory financial disclosures. The results indicate that firms with confident chief executive officers (CEOs) are 24% more likely to report their research and development (R&D) expenditures relative to firms with cautious CEOs. Exploiting staggered, state-level regulatory shocks and changes in CEO type, we find substantial evidence that cautious CEO firms fail to report R&D expenditures. After a plausibly exogeno...
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Published on Aug 14, 2017
Ronald C. Anderson15
Estimated H-index: 15
(Temple University),
Ezgi Ottolenghi1
Estimated H-index: 1
(Texas Tech University),
David M. Reeb21
Estimated H-index: 21
(National University of Singapore)
Critics advocate eliminating dual class shares. We find that founding families control 89% of dual class firms, potentially confounding economic inferences regarding these structures. Using industry, market and Fama-French excess returns, we find a buy-and-hold strategy of dual class family firms, annually makes an additional 350 basis points over the benchmark. Institutional owners garner a disparate portion of these excess returns by holding over 87% of their floated shares. These investors de...
1 Citations Source Cite
Published on Feb 1, 2017in Journal of International Business Studies 6.20
Douglas J. Cumming42
Estimated H-index: 42
(York University),
Igor Filatotchev45
Estimated H-index: 45
(Vienna University of Economics and Business)
+ 2 AuthorsLemma W. Senbet25
Estimated H-index: 25
(University of Maryland, College Park)
Abstract We introduce the topic of this Special Issue on the “Role of Financial and Legal Institutions in International Governance”, with a particular emphasis on a notion of “international mobility of corporate governance”. Our discussion places the Special Issue at the intersection of law, finance, and international business, with a focus on the contexts of foreign investors and directors. Country-level legal and regulatory institutions facilitate foreign ownership, foreign directors, raising ...
19 Citations Source Cite
Published on May 31, 2017
John C. Adams5
Estimated H-index: 5
(University of Texas at Arlington),
Darren K. Hayunga5
Estimated H-index: 5
(University of Georgia)
+ 1 AuthorsDavid M. Reeb21
Estimated H-index: 21
(National University of Singapore)
Outliers represent a fundamental challenge in empirical finance research. We investigate whether the routine techniques used in finance research to identify and treat outliers are appropriate for the data structures we observe in practice. We then propose a multivariate outlier identification strategy and show this method effectively identifies outliers, tests for their influence, and minimizes the bias they cause in both cross-sectional and panel regressions. We empirically test this method usi...
1 Citations
Published on Jan 1, 2016
David M. Reeb21
Estimated H-index: 21
(National University of Singapore),
Ping-Sheng Koh12
Estimated H-index: 12
(ESSEC Business School)
+ 1 AuthorsWing Wah Tham5
Estimated H-index: 5
(University of New South Wales)
Research on corporate innovation often focuses on firms with positive US patent activity and reported R&D, thereby excluding over 90% of the firms in Compustat. By exploiting data from 30 global patent offices, we investigate the nature of missing innovation data in the US and around the world. Our central research question is how studies of innovation, or those that rely on measures of innovation as a control variable, should assess firms without reported R&D or patent activity. Our preliminary...
Published on May 1, 2016in The American Economic Review 4.53
Sumit Agarwal32
Estimated H-index: 32
,
Wenlan Qian6
Estimated H-index: 6
+ 1 AuthorsTien Foo Sing13
Estimated H-index: 13
We study the participation of women in golf, a predominately male social activity, and its influence on their likelihood of serving on a board of directors. Exploiting a novel dataset of all golfers in Singapore, we find that woman golfers enjoy a 54% higher likelihood of serving on a board relative to male golfers. A woman's probability of serving on the board in a large firm or in a predominately male industry increases by 117% to 125% when she plays golf. Joining the boy's informal network ap...
8 Citations Source Cite
Published on Dec 29, 2016in Abacus
Stacey Beaumont1
Estimated H-index: 1
(University of Queensland),
Raluca Ratiu2
Estimated H-index: 2
(IE University)
+ 17 AuthorsAthanasios Tsekeris (University of Strathclyde)
This paper is developed around the set of design principles for executive compensation contracts as outlined in the study of Shan and Walter (2014). We propose guidance for determining an appropriate CEO starting compensation level based on past performance and the market for managerial talent. We also outline factors to be considered in determining annual changes to CEO compensation. This paper argues that stock options and restricted stock grants should become exercisable only upon meeting bot...
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