Byoung-Hyoun Hwang

TL;DR: This paper found that 87% of boards are conventionally independent, but that only 62% are socially independent, and that firms with boards that are both conventionally and socially independent award a significantly lower level of compensation, exhibit stronger pay performance sensitivity, and exhibit stronger turnover-performance sensitivity than firms whose boards are only socially independent.

TL;DR: This article found that 87% of boards are conventionally independent but that only 62% are socially independent, and that firms with boards that are both conventionally and socially independent award a significantly lower level of compensation, exhibit stronger pay-performance sensitivity, and exhibit stronger turnover performance sensitivity than firms that are only socially independent.

TL;DR: In this article, the extent to which investor opinions transmitted through social media predict future stock returns and earnings surprises was investigated, and it was shown that the views expressed in both articles and commentaries predict the future stock return and earnings.

TL;DR: In this article, the extent to which investor opinions transmitted through social media predict future stock returns and earnings surprises was investigated, and they found that the views expressed in both articles and commentaries predicted future stock return and earnings surprise.

TL;DR: It is found that initial public offerings (IPOs) with high expected skewness experience significantly greater first-day returns, which is consistent with a greater shift in holdings from institutions to individuals.