The Experts below are selected from a list of 12078 Experts worldwide ranked by ideXlab platform
Brian J. White - One of the best experts on this subject based on the ideXlab platform.
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The Unintended Effect of Corporate Social Responsibility Performance on Investors' Estimates of Fundamental Value
The Accounting Review, 2013Co-Authors: W. Brooke Elliott, Kevin E. Jackson, Mark E. Peecher, Brian J. WhiteAbstract:ABSTRACT: We provide theory and experimental evidence consistent with an Unintended, causal relation between Corporate Social Responsibility (CSR) performance and investors' estimates of fundamental value that can be attenuated by investors' explicit assessment of CSR performance. Consistent with “affect-as-information” theory from psychology, we find that investors who are exposed to, but do not explicitly assess, CSR performance derive higher fundamental value estimates in response to positive CSR performance, and lower fundamental value estimates in response to negative CSR performance. Explicit assessment of CSR performance, however, significantly diminishes this Effect, indicating that the Effect among investors who do not explicitly assess CSR performance is Unintended; i.e., they unintentionally use their affective reactions to CSR performance in estimating fundamental value. Supplemental findings shed light on consequences of these fundamental value estimates: investors who do not explicitly asses...
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Mitigating the Unintended Effect of Corporate Social Responsibility Performance on Investors’ Estimates of Fundamental Value
SSRN Electronic Journal, 2012Co-Authors: W. Brooke Elliott, Kevin E. Jackson, Mark E. Peecher, Brian J. WhiteAbstract:We examine how investors’ estimates of fundamental value are causally influenced by a firm’s corporate social responsibility (CSR) performance. We also examine how investor assessment of CSR performance moderates its influence over their fundamental-value estimates. Consistent with psychology theory, we find that when investors are exposed to, but do not explicitly assess, CSR performance, better CSR performance increases their estimates of fundamental value. Explicit investor assessment of CSR performance, however, significantly diminishes this increase. In addition, findings suggest that the increase among investors who do not assess CSR performance occurs subconsciously, i.e., they boost estimated fundamental value with poor self-insight. Supplemental findings shed light on consequences of this poor self-insight: investors who do not assess CSR performance rely on subconsciously boosted estimates of fundamental value to increase the price they are willing to pay to invest in the firm’s stock. Overall, our theory and findings contribute to the self-insight, affect, and CSR literatures in accounting by revealing the contingent nature of how and to what extent CSR performance influences investors’ estimates of fundamental value.
David Joulfaian - One of the best experts on this subject based on the ideXlab platform.
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A Quarter Century of Estate Tax Reforms
2001Co-Authors: David JoulfaianAbstract:Estate Tax Reforms over the past quarter of a century reflect a number of objectives. These include harmonization of estate and gift taxes, reductions in tax burdens, easing liquidity restraints, and simplifying compliance and tax administration. As a result of these changes, many taxpayers were eliminated from the tax rolls, the tax burden on married individuals eliminated or deferred, taxes on businesses were reduced, and the yield to the fisc reduced considerably. An Unintended Effect of tax reforms is that many of the changes have intensified the need for tax planning and added to the complexity of the tax code. In this paper, I review many of the changes, and discuss their implications for taxpayer behavior and complexity.
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A Quarter Century of Estate Tax Reforms
National Tax Journal, 2000Co-Authors: David JoulfaianAbstract:Estate Tax Reforms over the past quarter of a century reflect a number of objectives. These include harmonization of estate and gift taxes, reductions in tax burdens, easing liquidity constraints, and simplifying compliance and tax administration. As a result of these changes, many taxpayers were eliminated from the tax rolls, the tax burden on married individuals eliminated or deferred, taxes on businesses were reduced, and the yield to the fisc reduced consid- erably. An Unintended Effect of tax reforms is that many of the changes have intensified the need for tax planning and added to the complex- ity of the tax code. In this paper, I review many of the changes, and discuss their implications for taxpayer behavior and complexity.
W. Brooke Elliott - One of the best experts on this subject based on the ideXlab platform.
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The Unintended Effect of Corporate Social Responsibility Performance on Investors' Estimates of Fundamental Value
The Accounting Review, 2013Co-Authors: W. Brooke Elliott, Kevin E. Jackson, Mark E. Peecher, Brian J. WhiteAbstract:ABSTRACT: We provide theory and experimental evidence consistent with an Unintended, causal relation between Corporate Social Responsibility (CSR) performance and investors' estimates of fundamental value that can be attenuated by investors' explicit assessment of CSR performance. Consistent with “affect-as-information” theory from psychology, we find that investors who are exposed to, but do not explicitly assess, CSR performance derive higher fundamental value estimates in response to positive CSR performance, and lower fundamental value estimates in response to negative CSR performance. Explicit assessment of CSR performance, however, significantly diminishes this Effect, indicating that the Effect among investors who do not explicitly assess CSR performance is Unintended; i.e., they unintentionally use their affective reactions to CSR performance in estimating fundamental value. Supplemental findings shed light on consequences of these fundamental value estimates: investors who do not explicitly asses...
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Mitigating the Unintended Effect of Corporate Social Responsibility Performance on Investors’ Estimates of Fundamental Value
SSRN Electronic Journal, 2012Co-Authors: W. Brooke Elliott, Kevin E. Jackson, Mark E. Peecher, Brian J. WhiteAbstract:We examine how investors’ estimates of fundamental value are causally influenced by a firm’s corporate social responsibility (CSR) performance. We also examine how investor assessment of CSR performance moderates its influence over their fundamental-value estimates. Consistent with psychology theory, we find that when investors are exposed to, but do not explicitly assess, CSR performance, better CSR performance increases their estimates of fundamental value. Explicit investor assessment of CSR performance, however, significantly diminishes this increase. In addition, findings suggest that the increase among investors who do not assess CSR performance occurs subconsciously, i.e., they boost estimated fundamental value with poor self-insight. Supplemental findings shed light on consequences of this poor self-insight: investors who do not assess CSR performance rely on subconsciously boosted estimates of fundamental value to increase the price they are willing to pay to invest in the firm’s stock. Overall, our theory and findings contribute to the self-insight, affect, and CSR literatures in accounting by revealing the contingent nature of how and to what extent CSR performance influences investors’ estimates of fundamental value.
Mark E. Peecher - One of the best experts on this subject based on the ideXlab platform.
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The Unintended Effect of Corporate Social Responsibility Performance on Investors' Estimates of Fundamental Value
The Accounting Review, 2013Co-Authors: W. Brooke Elliott, Kevin E. Jackson, Mark E. Peecher, Brian J. WhiteAbstract:ABSTRACT: We provide theory and experimental evidence consistent with an Unintended, causal relation between Corporate Social Responsibility (CSR) performance and investors' estimates of fundamental value that can be attenuated by investors' explicit assessment of CSR performance. Consistent with “affect-as-information” theory from psychology, we find that investors who are exposed to, but do not explicitly assess, CSR performance derive higher fundamental value estimates in response to positive CSR performance, and lower fundamental value estimates in response to negative CSR performance. Explicit assessment of CSR performance, however, significantly diminishes this Effect, indicating that the Effect among investors who do not explicitly assess CSR performance is Unintended; i.e., they unintentionally use their affective reactions to CSR performance in estimating fundamental value. Supplemental findings shed light on consequences of these fundamental value estimates: investors who do not explicitly asses...
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Mitigating the Unintended Effect of Corporate Social Responsibility Performance on Investors’ Estimates of Fundamental Value
SSRN Electronic Journal, 2012Co-Authors: W. Brooke Elliott, Kevin E. Jackson, Mark E. Peecher, Brian J. WhiteAbstract:We examine how investors’ estimates of fundamental value are causally influenced by a firm’s corporate social responsibility (CSR) performance. We also examine how investor assessment of CSR performance moderates its influence over their fundamental-value estimates. Consistent with psychology theory, we find that when investors are exposed to, but do not explicitly assess, CSR performance, better CSR performance increases their estimates of fundamental value. Explicit investor assessment of CSR performance, however, significantly diminishes this increase. In addition, findings suggest that the increase among investors who do not assess CSR performance occurs subconsciously, i.e., they boost estimated fundamental value with poor self-insight. Supplemental findings shed light on consequences of this poor self-insight: investors who do not assess CSR performance rely on subconsciously boosted estimates of fundamental value to increase the price they are willing to pay to invest in the firm’s stock. Overall, our theory and findings contribute to the self-insight, affect, and CSR literatures in accounting by revealing the contingent nature of how and to what extent CSR performance influences investors’ estimates of fundamental value.
Kevin E. Jackson - One of the best experts on this subject based on the ideXlab platform.
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The Unintended Effect of Corporate Social Responsibility Performance on Investors' Estimates of Fundamental Value
The Accounting Review, 2013Co-Authors: W. Brooke Elliott, Kevin E. Jackson, Mark E. Peecher, Brian J. WhiteAbstract:ABSTRACT: We provide theory and experimental evidence consistent with an Unintended, causal relation between Corporate Social Responsibility (CSR) performance and investors' estimates of fundamental value that can be attenuated by investors' explicit assessment of CSR performance. Consistent with “affect-as-information” theory from psychology, we find that investors who are exposed to, but do not explicitly assess, CSR performance derive higher fundamental value estimates in response to positive CSR performance, and lower fundamental value estimates in response to negative CSR performance. Explicit assessment of CSR performance, however, significantly diminishes this Effect, indicating that the Effect among investors who do not explicitly assess CSR performance is Unintended; i.e., they unintentionally use their affective reactions to CSR performance in estimating fundamental value. Supplemental findings shed light on consequences of these fundamental value estimates: investors who do not explicitly asses...
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Mitigating the Unintended Effect of Corporate Social Responsibility Performance on Investors’ Estimates of Fundamental Value
SSRN Electronic Journal, 2012Co-Authors: W. Brooke Elliott, Kevin E. Jackson, Mark E. Peecher, Brian J. WhiteAbstract:We examine how investors’ estimates of fundamental value are causally influenced by a firm’s corporate social responsibility (CSR) performance. We also examine how investor assessment of CSR performance moderates its influence over their fundamental-value estimates. Consistent with psychology theory, we find that when investors are exposed to, but do not explicitly assess, CSR performance, better CSR performance increases their estimates of fundamental value. Explicit investor assessment of CSR performance, however, significantly diminishes this increase. In addition, findings suggest that the increase among investors who do not assess CSR performance occurs subconsciously, i.e., they boost estimated fundamental value with poor self-insight. Supplemental findings shed light on consequences of this poor self-insight: investors who do not assess CSR performance rely on subconsciously boosted estimates of fundamental value to increase the price they are willing to pay to invest in the firm’s stock. Overall, our theory and findings contribute to the self-insight, affect, and CSR literatures in accounting by revealing the contingent nature of how and to what extent CSR performance influences investors’ estimates of fundamental value.
