% Encoding: UTF-8

@TechReport{Clark2016,
  author  = {{Clark, David and Regan, Patrick}},
  title   = {{Mass Mobillization Data project protests against governments, all countries, 1990-2020}},
  year    = {2016},
  address = {Binghamton University},
  number  = {https://doi.org/10.7910/DVN/HTTWYL},
  type    = {https://dataverse.harvard.edu/dataverse/MMdata},
}
@article{GuardianArticle,
address = {London},
author = {Watts, Jonathan and Collyns, Dan},
journal = {The Guardian},
month = {dec},
title = {{Ecuador indigenous leader found dead amid Lima climate talks}},
url = {https://www.theguardian.com/world/2014/dec/06/ecuador-indigenous-leader-found-dead-lima-climate-talks},
urldate = {10/10/2023},
year = {2014}
}
@Article{CollierHoeffler2004,
  author    = {Collier, Paul and Hoeffler, Anke},
  journal   = {Oxford Economic Papers},
  title     = {Greed and grievance in civil war},
  year      = {2004},
  number    = {4},
  pages     = {563--595},
  volume    = {56},
  copyright = {Copyright 2004 Oxford University Press},
  keywords  = {Censuses ; Civil war ; Civil wars ; Commodities ; Comparative analysis ; Diasporas ; Economic conditions ; Forecasts and trends ; Gross domestic product ; Income inequality ; Investigations ; Peacetime ; Rebellion ; War ; War conflict},
  language  = {eng},
  publisher = {Oxford University Press},
}
@article{Nardella2023,
abstract = {Abstract Whilst it is assumed that stakeholders penalize and deter corporate social irresponsibility (CSI), instances of CSI persist. Correspondingly, the literature on social regulation?which describes how non-governmental stakeholders exert their regulatory influence on organizations?remains fragmented. To act as a springboard for future studies, this review examines the contribution of corporate reputation to our understanding of how CSI is socially regulated. Our analysis of a large (n = 448 studies) multidisciplinary body of literature unearths a set of nuanced relationships between CSI and corporate reputation. We synthesize a conceptual framework in order to map the diverse landscape of literature and its contributions. We then highlight important gaps among?as well as between?research streams to present a future research agenda. Accordingly, this review contributes to closing ?the loop? between CSI, corporate reputation and social regulation, thereby opening up new pathways for future research.},
author = {Nardella, Giulio and Brammer, Stephen and Surdu, Irina},
doi = {https://doi.org/10.1111/ijmr.12311},
issn = {1460-8545},
journal = {International Journal of Management Reviews},
month = {jan},
number = {1},
pages = {200--229},
publisher = {John Wiley & Sons, Ltd},
title = {{The social regulation of corporate social irresponsibility: Reviewing the contribution of corporate reputation}},
url = {https://doi.org/10.1111/ijmr.12311},
volume = {25},
year = {2023}
}
@article{Karpoff2008,
abstract = {We examine the penalties imposed on the 585 firms targeted by SEC enforcement actions for financial misrepresentation from 1978–2002, which we track through November 15, 2005. The penalties imposed on firms through the legal system average only $23.5 million per firm. The penalties imposed by the market, in contrast, are huge. Our point estimate of the reputational penalty—which we define as the expected loss in the present value of future cash flows due to lower sales and higher contracting and financing costs—is over 7.5 times the sum of all penalties imposed through the legal and regulatory system. For each dollar that a firm misleadingly inflates its market value, on average, it loses this dollar when its misconduct is revealed, plus an additional $3.08. Of this additional loss, $0.36 is due to expected legal penalties and $2.71 is due to lost reputation. In firms that survive the enforcement process, lost reputation is even greater at $3.83. In the cross section, the reputation loss is positively related to measures of the firm's reliance on implicit contracts. This evidence belies a widespread belief that financial misrepresentation is disciplined lightly. To the contrary, reputation losses impose substantial penalties for cooking the books.},
author = {Karpoff, Jonathan M and Lee, D Scott and Martin, Gerald S},
doi = {DOI: 10.1017/S0022109000004221},
edition = {2009/04/06},
issn = {0022-1090},
journal = {Journal of Financial and Quantitative Analysis},
number = {3},
pages = {581--611},
publisher = {Cambridge University Press},
title = {{The cost to firms of cooking the books}},
url = {https://www.cambridge.org/core/product/4BFFF52B30A4997F2ED5EA8BDA69CD1A},
volume = {43},
year = {2008}
}
@article{Carpentier2022,
abstract = {Numerous countries use information-based strategies to supplement or replace traditional environmental risk-control approaches. These strategies rest on the deterrence effect: Informed stakeholders, including media and investors, penalize polluters, which leads them to self-regulate, thereby reinforcing the mandatory regulation. To effectively tackle the increase in environmental problems, the deterrence effect requires stakeholders to be concerned about the environment and be prepared to significantly and increasingly punish polluting firms. This paper provides evidence of the extent and evolution of this stock market disciplinary effect following the disclosure of major environmental crises over 6 decades, using an event study approach. We use the market reaction following non-environmental crises to establish a benchmark against which we measure market reaction to environmental crises, and limit our sample to high-profile events likely to be immediately attributed to firms. Overall, the market reacts more negatively to environmental than to non-environmental crises. However, the wealth losses following environmental crises have not increased since the early 1960s. The deterrence effect has thus not amplified in the US over the last 6 decades, indicating that information-based approaches are probably insufficient at regulating the escalating environmental problems.},
author = {Carpentier, C{\'{e}}cile and Suret, Jean-Marc},
doi = {https://doi.org/10.1016/j.jclepro.2022.133358},
issn = {0959-6526},
journal = {Journal of Cleaner Production},
keywords = {Corporate sustainability,Deterrence effect,Environmental crises,Environmental regulation,Stock market disciplinary effect},
pages = {133358},
title = {{Extent and evolution of the stock market disciplinary effect in the US: The case of major environmental crises}},
url = {https://www.sciencedirect.com/science/article/pii/S0959652622029432},
volume = {370},
year = {2022}
}
@article{Carpentier2015,
abstract = {We analyze the stock market reaction to 161 major environmental and non-environmental accidents, reported on the front page of the New York Times for half a century. To determine if the market induces a real deterrence effect, we extend the event windows up to one year. On average, the market reacts negatively and enduringly to the announcement of an accident. However, this average effect is largely driven by the airline industry and by government interventions. The estimated average compounded abnormal return following environmental accidents does not differ from zero after one year. This does not exclude, in severe events affecting large firms, huge losses in equity value, but the significant negative cumulative abnormal returns estimated immediately after an environmental accident in previous studies do not persist. Our results suggest that in a market driven by institutional investors, the deterrence effect is likely to be weak.},
author = {Carpentier, C{\'{e}}cile and Suret, Jean-Marc},
doi = {https://doi.org/10.1016/j.jeem.2015.01.001},
issn = {0095-0696},
journal = {Journal of Environmental Economics and Management},
keywords = {Catastrophe,Deterrence effect,Disaster,Environmental accident,Event study,Mid-run analysis,Stock market},
pages = {1--18},
title = {{Stock market and deterrence effect: A mid-run analysis of major environmental and non-environmental accidents}},
url = {https://www.sciencedirect.com/science/article/pii/S0095069615000029},
volume = {71},
year = {2015}
}

%article{Tetlock2014,
%author = {Tetlock, Paul C},
issn = {1941-1367},
journal = {Annu. Rev. Financ. Econ.},
mendeley-groups = {Mining},
number = {1},
pages = {365--384},
publisher = {Annual Reviews},
title = {{Information transmission in finance}},
volume = {6},
year = {2014}
}

@article{Karpoff1993,
annote = {doi: 10.1086/467297},
author = {Karpoff, Jonathan M and Lott, John R.},
doi = {10.1086/467297},
issn = {0022-2186},
journal = {The Journal of Law and Economics},
month = {oct},
number = {2},
pages = {757--802},
publisher = {The University of Chicago Press},
title = {{The reputational penalty firms bear from committing criminal fraud}},
url = {https://doi.org/10.1086/467297},
volume = {36},
year = {1993}
}
@article{Gillet2010,
abstract = {By examining stock market reactions to the announcement of operational losses by financial companies, this paper attempts to disentangle operational losses from reputational damage. Our analysis deals with 154 events coming from the FIRST database of OpVantage. Events occurred between 1990 and 2004 in companies belonging to the financial sector and that are listed on the major European and US Stock Exchanges. Results show significant, negative abnormal returns at the announcement date of the loss, along with an increase in the volumes of trade. In cases of internal fraud, the loss in market value is greater that the operational loss amount announced, which is interpreted as a sign of reputational damage. Negative impact is proportionally greater when the loss amount represents a larger share in the company's net profit.},
author = {Gillet, Roland and H{\"{u}}bner, Georges and Plunus, S{\'{e}}verine},
doi = {https://doi.org/10.1016/j.jbankfin.2009.07.020},
issn = {0378-4266},
journal = {Journal of Banking \& Finance},
keywords = {Event study,Operational risk,Reputational risk},
number = {1},
pages = {224--235},
title = {{Operational risk and reputation in the financial industry}},
url = {https://www.sciencedirect.com/science/article/pii/S0378426609001873},
volume = {34},
year = {2010}
}
@article{Huang2021,
abstract = {Abstract Interest in why firms conduct environmental, social and governance (ESG) activity is longstanding and increasing. Our understanding, however, remains fragmented with alternative accounts that seek to explain the relationship between ESG performance (ESGP) and corporate financial performance (CFP). This paper reviews alternative accounts for the relationship and finds that the weight of empirical evidence shows a positive, statistically significant but economically modest ESGP?CFP link, consistent with theoretical expectations. This economically modest relationship suggests ESG activity is unlikely to be primarily motivated by narrow measures of CFP. Further scholarship viewing ESG as part of overall firm activity would be constructive.},
author = {Huang, Danny Z X},
doi = {https://doi.org/10.1111/acfi.12569},
issn = {0810-5391},
journal = {Accounting & Finance},
keywords = {Corporate financial performance,Corporate social responsibility,Environmental,Literature review,Meta-analysis,social and governance},
month = {mar},
number = {1},
pages = {335--360},
publisher = {John Wiley & Sons, Ltd},
title = {{Environmental, social and governance (ESG) activity and firm performance: a review and consolidation}},
url = {https://doi.org/10.1111/acfi.12569},
volume = {61},
year = {2021}
}

@article{Bouzzine2020,
abstract = {Abstract We examine how environmental violations affect the stock returns of the violating firm and how these financial implications then spread to industry peers. Volkswagen's diesel emissions scandal (Dieselgate) and the German automotive industry serve as a seminal case for the examination. Research often limits examinations of corporate environmental scandals to the primary event announcement. Yet the Dieselgate scandal exhibits a processual character that requires the examination of multiple events over time. We identify 10 Dieselgate events and employ event study methodology to detect abnormal stock reactions. Based on agency and signaling theory, the results indicate that Dieselgate has harmed the stock returns of Volkswagen and its industry peers substantially. Surprisingly, Volkswagen suffered financial damage only upon the initial event of Dieselgate. Subsequent events had significant effects only on industry peers. These findings contribute comprehensively to the research of environmental misconduct and provide valuable implications for practitioners.},
author = {Bouzzine, Yassin Denis and Lueg, Rainer},
doi = {https://doi.org/10.1002/bse.2566},
issn = {0964-4733},
journal = {Business Strategy and the Environment},
keywords = {Dieselgate,German automotive industry,business model,contagion effect,environmental violation,event study},
month = {dec},
number = {8},
pages = {3187--3202},
publisher = {John Wiley & Sons, Ltd},
title = {{The contagion effect of environmental violations: The case of Dieselgate in Germany}},
url = {https://doi.org/10.1002/bse.2566},
volume = {29},
year = {2020}
}
@article{Chen2020,
abstract = {As environmental, social, and governance (ESG) factors become increasingly important in the business sector, investors pay more attention to corporate ESG information. Integrating ESG factors into the investment process has transformed from a niche to mainstream activity. This study demonstrates that investors systematically exaggerate corporate ESG information, leading to ESG momentum effects in financial markets. Specifically, investors exhibit optimistic responses to good news about companies with higher ESG scores but pessimistic responses to bad news about companies with lower ESG scores. Consistent with the overreaction hypothesis, the empirical results show that an ESG momentum strategy can lead to substantial profits in the short run and reversals in the long run. Moreover, this study reveals that investors overreact to the environmental factor more than social or governance factors.},
author = {Chen, Hong-Yi and Yang, Sharon S},
doi = {https://doi.org/10.1016/j.pacfin.2020.101407},
issn = {0927-538X},
journal = {Pacific-Basin Finance Journal},
keywords = {ESG,ESG momentum strategy,Excessive extrapolation,Investor sentiment,Momentum strategy,Overreaction hypothesis},
pages = {101407},
title = {{Do Investors exaggerate corporate ESG information? Evidence of the ESG momentum effect in the Taiwanese market}},
url = {https://www.sciencedirect.com/science/article/pii/S0927538X19306493},
volume = {63},
year = {2020}
}
@article{Rao1996,
author = {Rao, Spuma M},
journal = {Journal of Financial and Strategic Decisions},
number = {1},
pages = {25--32},
title = {{The effect of published reports of environmental pollution on stock prices}},
volume = {9},
year = {1996}
}
@article{Hawn2018,
abstract = {Research Summary: Research exploring investor reactions to sustainability has substantial empirical limitations, which we address with a large-scale longitudinal financial event study of the first global sustainability index, DJSI World. We examine investor reactions to firms from 27 countries over 17 years that are added, deleted, or continue on the index. We find that once relevant controls and comparisons to observationally equivalent firms beyond the index are included, DJSI events have only limited significance and/or materiality. Nonetheless, investors' valuation of sustainability around the world has evolved over time, involving diminishing reactions to U.S. firms and increasing benefits, particularly of continuation on the index, over time. The study highlights the importance of careful analysis and longitudinal global samples in making inferences about the financial effects of social performance. Managerial Summary: The debate about how investors perceive corporate social responsibility (CSR) predates Milton Friedman's famous statement that the only social responsibility of business is to increase profits. Although extensive research has studied whether sustainability contributes to financial performance, we have yet to understand whether investors believe it pays off. This financial event study of reactions to the addition, continuation, and deletion from DJSI World, the first global sustainability index, shows that investors care little about DJSI announcements. Nonetheless, there is some evidence that global assessments of sustainability are converging and that investors may increasingly be valuing continuation on the DJSI, suggesting that firms may gain at least limited benefits from reliable sustainability activities.},
author = {Hawn, Olga and Chatterji, Aaron K and Mitchell, Will},
doi = {https://doi.org/10.1002/smj.2752},
journal = {Strategic Management Journal},
keywords = { financial event study, firm value, investors, space, sustainability, time,CSR},
number = {4},
pages = {949--976},
title = {{Do investors actually value sustainability? New evidence from investor reactions to the Dow Jones Sustainability Index (DJSI)}},
url = {https://onlinelibrary.wiley.com/doi/abs/10.1002/smj.2752},
volume = {39},
year = {2018}
}

@article{Ambec2008,
abstract = {The conventional wisdom concerning environmental protection is that it comes at an additional cost imposed on firms, which may erode their global competitiveness. However, during the last decade, this paradigm has been challenged by a number of analysts (e.g., Porter & van der Linde, 1995), who have argued basically that improving a company's environmental performance can lead to better economic or financial performance, and not necessarily to an increase in cost. The aim of this paper is to review empirical evidence of improvement in both environmental and economic or financial performance. We systematically analyze the mechanism involved in each of the following channels of potential revenue increase or cost reduction owing to better environmental practices: (a) better access to certain markets; (b) differentiating products; (c) selling pollution-control technology; (d) risk management and relations with external stakeholders; (e) cost of material, energy, and services; (f) cost of capital; and (g) cost of labor. In each case, we try to identify the circumstances most likely to lead to a "win-win" situation, i.e., better environmental and financial performance. We also provide a diagnostic of the type of firms most likely to reap such benefits.},
author = {Ambec, Stefan and Lanoie, Paul},
issn = {15589080, 19434529},
journal = {Academy of Management Perspectives},
month = {oct},
number = {4},
pages = {45--62},
publisher = {Academy of Management},
title = {{Does it pay to be green? A systematic overview}},
url = {http://www.jstor.org/stable/27747478},
volume = {22},
year = {2008}
}
@article{Kwon2020,
author = {Kwon, Spencer Yongwook and Tang, Johnny},
journal = {SSRN 3724420},
title = {{Extreme events and overreaction to news}},
year = {2020}
}
@article{Stefan2008,
abstract = {Executive Overview The conventional wisdom concerning environmental protection is that it comes at an additional cost imposed on firms, which may erode their global competitiveness. However, during the last decade, this paradigm has been challenged by a number of analysts (e.g., Porter  (b) differentiating products; (c) selling pollution-control technology; (d) risk management and relations with external stakeholders; (e) cost of material, energy, and services; (f) cost of capital; and (g) cost of labor. In each case, we try to identify the circumstances most likely to lead to a ?win-win? situation, i.e., better environmental and financial performance. We also provide a diagnostic of the type of firms most likely to reap such benefits.},
annote = {doi: 10.5465/amp.2008.35590353},
author = {Stefan, Ambec and Paul, Lanoie},
doi = {10.5465/amp.2008.35590353},
issn = {1558-9080},
journal = {Academy of Management Perspectives},
month = {nov},
number = {4},
pages = {45--62},
publisher = {Academy of Management},
title = {{Does It Pay to Be Green? A Systematic Overview}},
url = {https://doi.org/10.5465/amp.2008.35590353},
volume = {22},
year = {2008}
}
@article{Alexander2005,
author = {Cindy R. Alexander},
title = {On the Nature of the Reputational Penalty for Corporate Crime: Evidence},
journal = {Journal of Law and Economics},
year = {2005},
volume = {42},
publisher = {University of Chicago Press},
month = {jul},
url = {https://doi.org/10.1086/467433},
number = {S1},
pages = {489--526},
doi = {10.1086/467433}
}
@article{Capelle-Blancard2010,
abstract = {In this paper, we examine the stock market reaction to industrial disasters. We consider an original sample of 64 explosions in chemical plants and refineries worldwide over the period 1990–2005. A quarter of the accidents resulted in a toxic release, and half of them caused at least one death or serious injury. On average, petrochemical firms in our sample experience a drop in their market value of 1.3% over the two days immediately following the disaster. Using multivariate analysis, we show that this loss is significantly related to the seriousness of the accident as measured by the number of casualties and by chemical pollution: each casualty corresponds to a loss of $164 million and a toxic release to a loss of $1 billion.},
author = {Capelle-Blancard, Gunther and Laguna, Marie-Aude},
doi = {https://doi.org/10.1016/j.jeem.2009.11.002},
issn = {0095-0696},
journal = {Journal of Environmental Economics and Management},
keywords = {Disclosure,Environmental liability,Event study,Insurance,Technological risk},
number = {2},
pages = {192--205},
title = {{How does the stock market respond to chemical disasters?}},
url = {https://www.sciencedirect.com/science/article/pii/S0095069609000916},
volume = {59},
year = {2010}
}
@article{Carpentier2021,
author = {Carpentier, C{\'{e}}cile and Suret, Jean-Marc},
issn = {1542-7560},
journal = {Journal of Behavioral Finance},
number = {3},
pages = {289--305},
publisher = {Taylor & Francis},
title = {{On the rationality of institutional investors: The case of major industrial accidents}},
volume = {22},
year = {2021}
}
@misc{Forst2018,
author = {Forst, Michel},
mendeley-groups = {Mining},
publisher = {Office of the United Nations Special Rapporteur on the Situation of Human Rights Defenders},
title = {{World Report on the Situation of Human Rights Defenders}},
year = {2018}
}
@techreport{FrontlineDefenders2023,
address = {Dublin, Ireland},
author = {{Frontline Defenders}},
institution = {Frontline Defenders},
mendeley-groups = {Mining},
title = {{Frontline Defenders: Global Analysis 23/24}},
year = {2023}
}
@article{Brady2019,
abstract = {Our pure replication of Karpoff et al. (2005) confirms their findings of negative abnormal returns and insignificant reputational penalties following the announcement of environmental violations in the last two decades of the twentieth century. A scientific replication using more recent data finds a decrease in the magnitude of negative abnormal returns but similarly insignificant reputational penalties on average. While mean legal penalties for violations are higher in the more recent period, these penalties have decreased relative to firms' market valuations.},
author = {Brady, Jacob and Evans, Mary F and Wehrly, Eric W},
doi = {https://doi.org/10.1016/j.irle.2018.12.007},
issn = {0144-8188},
journal = {International Review of Law and Economics},
keywords = {Enforcement,Environmental violations,Reputational penalties},
pages = {60--72},
title = {{Reputational penalties for environmental violations: A pure and scientific replication study}},
url = {https://www.sciencedirect.com/science/article/pii/S0144818818302291},
volume = {57},
year = {2019}
}
@article{Abadie2010a,
abstract = {Building on an idea in Abadie and Gardeazabal (2003), this article investigates the application of synthetic control methods to comparative case studies. We discuss the advantages of these methods and apply them to study the effects of Proposition 99, a large-scale tobacco control program that California implemented in 1988. We demonstrate that, following Proposition 99, tobacco consumption fell markedly in California relative to a comparable synthetic control region. We estimate that by the year 2000 annual per-capita cigarette sales in California were about 26 packs lower than what they would have been in the absence of Proposition 99. Using new inferential methods proposed in this article, we demonstrate the significance of our estimates. Given that many policy interventions and events of interest in social sciences take place at an aggregate level (countries, regions, cities, etc.) and affect a small number of aggregate units, the potential applicability of synthetic control methods to comparative case studies is very large, especially in situations where traditional regression methods are not appropriate. {\textcopyright} 2010 American Statistical Association.},
author = {Abadie, Alberto and Diamond, Alexis and Hainmueller, Jens},
doi = {10.1198/jasa.2009.ap08746},
issn = {01621459},
journal = {Journal of the American Statistical Association},
keywords = {Observational studies,Proposition 99,Tobacco control legislation,Treatment effects},
mendeley-groups = {DiD/Synthetic/Matrix},
month = {jun},
number = {490},
pages = {493--505},
title = {{Synthetic control methods for comparative case studies: Estimating the effect of California's Tobacco control program}},
volume = {105},
year = {2010}
}
@article{Choi2024,
author = {Choi, Hae Mi and Karpoff, Jonathan M and Lou, Xiaoxia and Martin, Gerald S},
issn = {0025-1909},
journal = {Management Science},
number = {2},
pages = {834--859},
publisher = {INFORMS},
title = {{Enforcement waves and spillovers}},
volume = {70},
year = {2024}
}
@article{Carberry2018,
author = {Carberry, Edward J and Engelen, Peter-Jan and {Van Essen}, Marc},
issn = {1052-150X},
journal = {Business ethics quarterly},
number = {2},
pages = {119--151},
publisher = {Cambridge University Press},
title = {{Which firms get punished for unethical behavior? Explaining variation in stock market reactions to corporate misconduct}},
volume = {28},
year = {2018}
}
@article{karpoff2017b,
author = {Karpoff, Jonathan M and Koester, Allison and Lee, D Scott and Martin, Gerald S},
issn = {1558-7967},
journal = {The Accounting Review},
number = {6},
pages = {129--163},
publisher = {American Accounting Association},
title = {{Proxies and databases in financial misconduct research}},
volume = {92},
year = {2017}
}
@article{Abdulmanova2021,
abstract = {Abstract We examine the effect of investor attention on value loss due to securities class action lawsuits and litigation-based fraud discovery. We find that investor attention is positively associated with damage to corporate reputation and the magnitude of the value losses suffered by defendant firms. The reputational damage to defendant firms with higher investor attention is evident from poor operational performance and lower institutional ownership after filing. Investor attention is positively associated with the diffusion of information regarding fraud and it accelerates lawsuit filing. The effects of investor attention, however, are not subsumed by the severity of the fraud. Our results are robust to a battery of tests that addresses selection and endogeneity concerns.},
author = {Abdulmanova, Anna and Ferris, Stephen P and Jayaraman, Narayanan and Kothari, Pratik},
doi = {https://doi.org/10.1111/jfir.12249},
issn = {0270-2592},
journal = {Journal of Financial Research},
month = {sep},
number = {3},
pages = {513--552},
publisher = {John Wiley & Sons, Ltd},
title = {{The effect of investor attention on fraud discovery and value loss in securities class action litigation}},
url = {https://doi.org/10.1111/jfir.12249},
volume = {44},
year = {2021}
}
@article{Murphy2009,
abstract = {We examine the relationship between allegations of corporate misconduct and changes in profitability and risk of the alleged offender. Profitability is measured as reported earnings and analysts' earnings forecasts. Risk is measured as stock return volatility and concordance among analysts' forecasts. Decreases in earnings and increases in risk are found to accompany allegations of misconduct, and although the results are somewhat sensitive to the earnings and risk metrics used, the changes are found to be consistently greater for related-party offenses. The importance of reputational penalties is underscored by analysis of the association between allegation-related changes in firm value and changes in earnings and risk.},
author = {Murphy, Deborah L and Shrieves, Ronald E and Tibbs, Samuel L},
doi = {DOI: 10.1017/S0022109009090036},
edition = {2009/02/01},
issn = {0022-1090},
journal = {Journal of Financial and Quantitative Analysis},
number = {1},
pages = {55--83},
publisher = {Cambridge University Press},
title = {{Understanding the penalties associated with corporate misconduct: An empirical examination of earnings and risk}},
url = {https://www.cambridge.org/core/product/056326E2935436FC8BBB69F9AC312E02},
volume = {44},
year = {2009}
}
@article{Mariuzzo2020,
abstract = {In this article, we revive an old debate in the law and economics literature: the relative role of public and reputational sanctions in deterring misconduct. We propose an empirical framework, which accounts for public sanctions (in our case cartel fines) and a more direct measure of reputational sanctions, harnessing recent developments in opinion mining. We use the intensity and the sentiment of media exposure of misconduct as a measure of reputational effect and thus approximation of the reputational sanction. As a demonstration, we combine an event study approach, sentiment analysis, and econometric techniques on a sample of 339 listed cartel member firms, prosecuted by the European Commission between 1992 and 2015. Our results offer evidence that in the context of cartels, public and reputational sanctions act as substitutes: where there is a reputational penalty, increasing this penalty reduces the effect of the public sanction. One the other hand, in the absence of a reputational punishment, the effect of the cartel fine steps in.},
author = {Mariuzzo, Franco and Ormosi, Peter L and Majied, Zherou},
doi = {https://doi.org/10.1016/j.ijindorg.2020.102584},
issn = {0167-7187},
journal = {International Journal of Industrial Organization},
keywords = {Cartels,Event study,Public sanctions,Reputational sanctions,Sentiment analysis},
pages = {102584},
title = {{Fines and reputational sanctions: The case of cartels}},
url = {https://www.sciencedirect.com/science/article/pii/S0167718720300060},
volume = {69},
year = {2020}
}
@article{Kim2022,
abstract = {This study examines the impact of increased investor attention to corporate misconduct (CM) on stock returns. We show that media coverage provides an important channel through which investor awareness of corporate wrongdoings can be enhanced. Using a unique research setting in Korea based on text analysis during the 2008–2020 period, we find that investors exhibit short-term adverse reactions to CM events. More importantly, the increased social awareness of CM issues through media coverage leads investors to penalize firms more severely. We also find that the adverse reaction to CM events is more prominent for firms with a greater negative media tone and surprise. The combined evidence supports the investor attention theory. Furthermore, the negative effects of CM on stock returns are smaller for firms with positive Corporate Social Responsibility (CSR) and Environmental, Social, and Governance (ESG) reputations, consistent with the insurance theory.},
author = {Kim, Hee-Eun and Jo, Hoje and Ahn, Tae-Wook and Yi, Junesuh},
doi = {https://doi.org/10.1016/j.irfa.2022.102381},
issn = {1057-5219},
journal = {International Review of Financial Analysis},
keywords = {Corporate misconduct (CM),Insurance theory,Investor attention,Media coverage},
pages = {102381},
title = {{Corporate misconduct, media coverage, and stock returns}},
url = {https://www.sciencedirect.com/science/article/pii/S1057521922003313},
volume = {84},
year = {2022}
}
@article{Choi2024,
author = {Choi, Hae Mi and Karpoff, Jonathan M and Lou, Xiaoxia and Martin, Gerald S},
issn = {0025-1909},
journal = {Management Science},
number = {2},
pages = {834--859},
publisher = {INFORMS},
title = {{Enforcement waves and spillovers}},
volume = {70},
year = {2024}
}
@article{Carberry2018,
author = {Carberry, Edward J and Engelen, Peter-Jan and {Van Essen}, Marc},
issn = {1052-150X},
journal = {Business ethics quarterly},
number = {2},
pages = {119--151},
publisher = {Cambridge University Press},
title = {{Which firms get punished for unethical behavior? Explaining variation in stock market reactions to corporate misconduct}},
volume = {28},
year = {2018}
}
@book{Campbell1997,
abstract = {The past twenty years have seen an extraordinary growth in the use of quantitative methods in financial markets. Finance professionals now routinely use sophisticated statistical techniques in portfolio management, proprietary trading, risk management, financial consulting, and securities regulation. This graduate-level textbook is intended for PhD students, advanced MBA students, and industry professionals interested in the econometrics of financial modeling. The book covers the entire spectrum of empirical finance, including: the predictability of asset returns, tests of the Random Walk Hypothesis, the microstructure of securities markets, event analysis, the Capital Asset Pricing Model and the Arbitrage Pricing Theory, the term structure of interest rates, dynamic models of economic equilibrium, and nonlinear financial models such as ARCH, neural networks, statistical fractals, and chaos theory. <br>  Each chapter develops statistical techniques within the context of a particular financial application. This exciting new text contains a unique and accessible combination of theory and practice, bringing state-of-the-art statistical techniques to the forefront of financial applications. Each chapter also includes a discussion of recent empirical evidence, for example, the rejection of the Random Walk Hypothesis, as well as problems designed to help readers incorporate what they have read into their own applications.},
author = {Campbell, John Y and Lo, Andrew W and MacKinlay, A.Craig},
doi = {10.2307/j.ctt7skm5},
isbn = {9780691043012},
month = {oct},
publisher = {Princeton University Press},
title = {{The Econometrics of Financial Markets}},
url = {http://www.jstor.org/stable/j.ctt7skm5},
year = {1997}
}

@article{Wei2017,
abstract = {Research summary: We study how two dimensions of reputation (i.e., generalized favorability and being known) and attribution of crisis responsibility affect firm value at the onset of a crisis. Analyzing 126 corporate crises befalling publicly listed firms in China from 2008 to 2014, we find that generalized favorability serves as a buffer, while being known can be a burden, in influencing firm value. We also find that the buffering effect of generalized favorability is stronger when the attribution of crisis responsibility is low (vs. high). In addition, there is a negative interaction effect between the two dimensions of reputation such that the buffering effect of generalized favorability weakens when firms are better known. We discuss our contributions to research on corporate reputation and crisis management. Managerial summary: Corporate reputation is an intangible asset, especially at the onset of a corporate crisis. This research sheds light on the ?double-edged sword? of corporate reputation by examining the effects of two reputation dimensions (i.e., being liked and being known) on firm value. Our results suggest that well-liked firms can leverage their generalized favorability among stakeholders to assuage firm value loss, whereas well-known firms may have to better communicate with stakeholders to overcome the burden of stakeholders' attention that escalates firm value loss. To better cope with the onset of a crisis, firms should therefore enhance their generalized favorability and simultaneously avert stakeholders' excessive attention. In addition, well-liked firms can further buffer against the loss in firm value by reducing the perceived intentionality of a crisis. Copyright ? 2017 John Wiley & Sons, Ltd.},
author = {Wei, Jiuchang and Ouyang, Zhe and Chen, Haipeng (Allan)},
doi = {https://doi.org/10.1002/smj.2639},
issn = {0143-2095},
journal = {Strategic Management Journal},
keywords = {attribution of crisis responsibility,corporate reputation,crisis management,investors,shareholder value},
month = {oct},
number = {10},
pages = {2103--2120},
publisher = {John Wiley & Sons, Ltd},
title = {{Well known or well liked? The effects of corporate reputation on firm value at the onset of a corporate crisis}},
url = {https://doi.org/10.1002/smj.2639},
volume = {38},
year = {2017}
}

@article{Ouyang2020,
abstract = {Abstract Negative impact of a firm's environmental misconduct can spread to other firms under the same category due to stakeholders' categorization. Such problem implies a sociocognitive process that has yet to be explored. Therefore, this study extends the current literature by exploring how interfirm similarity affects the spillover effects through stakeholders' engagement. We propose that interfirm similarity can be perceived by stakeholders as a categorization standard, which can lead to their opposition to other firms. Spillover of misconduct is caused by the decreasing stakeholders' trust, wherein the negative effect is contingent upon stakeholders' perceptions. A questionnaire study is conducted to investigate how people resist an innocent firm in China when a chemistry firm experienced an explosion accident. Our findings confirm that interfirm similarity increases stakeholders' opposition to the innocent firm by decreasing their trust. However, the negative effect is alleviated when the innocent firm is perceived as highly environmentally responsible. Our work contributes to the crisis spillover literature and carries important implications for the management of innocent firms that may lose from an industry peer's misconduct.},
author = {Ouyang, Zhe and Yao, Chris Nengzhi and Hu, Xi},
doi = {https://doi.org/10.1002/bse.2474},
issn = {0964-4733},
journal = {Business Strategy and the Environment},
keywords = {corporate environmental responsibility,general familiarity,interfirm similarity,oppositional behavioral intention,trust},
month = {may},
number = {4},
pages = {1797--1808},
publisher = {John Wiley & Sons, Ltd},
title = {{Crisis spillover of corporate environmental misconducts: The roles of perceived similarity, familiarity, and corporate environmental responsibility in determining the impact on oppositional behavioral intention}},
url = {https://doi.org/10.1002/bse.2474},
volume = {29},
year = {2020}
}
@article{Bouzzine2021,
abstract = {Stock price reactions to environmental pollution events are spiking increasing academic interest. This systematic literature review covers 38 stock-based event studies from 1990 to 2020. I categorize the extant literature into four subfields: pollution disclosures; environmental violation, legal penalty, and law enforcement disclosures; environmental disaster disclosures; and, multifaceted disclosures. I review these studies from three distinct perspectives: empirical results, theoretical frameworks, and methodological approaches. The empirical results in the extant literature unanimously support negative stock price reactions to all environmental pollution events, irrespective of the research sample. My review of the frameworks illustrates how researchers mobilize diverse rationales to explain their similar results. I also review the rigor of the methods based on seven established criteria. I then synthesize our three distinct review perspectives. In total, I identify 13 limitations in this area. I close by deriving concise recommendations to support future research and help to advance insights into this field.},
author = {Bouzzine, Yassin Denis},
doi = {https://doi.org/10.1016/j.jclepro.2021.128305},
issn = {0959-6526},
journal = {Journal of Cleaner Production},
keywords = {Environmental pollution event,Event study,Research agenda,Systematic literature review},
pages = {128305},
title = {{Stock price reactions to environmental pollution events: A systematic literature review of direct and indirect effects and a research agenda}},
url = {https://www.sciencedirect.com/science/article/pii/S0959652621025208},
volume = {316},
year = {2021}
}
@article{Karpoff2005,
abstract = {Abstract This paper examines the sizes of the fines, damage awards, remediation costs, and market value losses imposed on companies that violate environmental regulations. Firms that violate environmental laws suffer statistically significant losses in the market value of firm equity. The losses, however, are of similar magnitudes to the legal penalties imposed, and in the cross section, the market value loss is related to the size of the legal penalty. Thus, environmental violations are disciplined largely through legal and regulatory penalties, not through reputational penalties.},
author = {Karpoff, Jonathan and John, Lott and Wehrly, Eric},
doi = {10.1086/430806},
issn = {00222186, 15375285},
journal = {The Journal of Law \& Economics},
month = {oct},
number = {2},
pages = {653--675},
publisher = {[The University of Chicago Press, The Booth School of Business, University of Chicago, The University of Chicago Law School]},
title = {{The reputational penalties for environmental violations: Empirical evidence}},
url = {http://www.jstor.org/stable/10.1086/430806},
volume = {48},
year = {2005}
}
@article{Karpoff2013,
author = {Karpoff, Jonathan M},
issn = {00076805, 2044768X},
journal = {The Business History Review},
month = {oct},
number = {4},
pages = {632--634},
publisher = {[The President and Fellows of Harvard College, Cambridge University Press]},
title = {{Reputation and the foundations of trust in economic transactions}},
url = {http://www.jstor.org/stable/43299200},
volume = {87},
year = {2013}
}
@incollection{Karpoff2012,
abstract = {This article tries to answer a fundamental question about the importance of reputation–does it actually work to discipline firm misconduct?– and also addresses the empirical research on the significance of reputational penalties for corporate misconduct. The reputational loss occurs because of direct impairments to the firm's ongoing operations, and also because counterparties alter the terms with which they are willing to continue to do business with the firm. The article then illustrates that firms engaging in many types of misconduct incur large reputational losses. In general, the data indicates that firms experience significant reputational losses when their misconduct imposes costs on their counterparties. Reputation plays a small role in disciplining environmental violations, and regulations and legal penalties play a more important role. Furthermore, there are large consequences for firms and managers that are caught engaging in misconduct.},
address = {Oxford},
author = {Karpoff, Jonathan M},
booktitle = {The Oxford Handbook of Corporate Reputation},
chapter = {18},
doi = {10.1093/oxfordhb/9780199596706.013.0018},
editor = {Pollock, Timothy G and Barnett, Michael L},
isbn = {9780199596706},
month = {jul},
pages = {361--382},
publisher = {Oxford University Press},
title = {{Does Reputation Work to Discipline Corporate Misconduct?}},
url = {https://doi.org/10.1093/oxfordhb/9780199596706.013.0018},
year = {2012}
}

@article{Green2019,
abstract = {We find that firms experiencing improvements in crowdsourced employer ratings significantly outperform firms with declines. The return effect is concentrated among reviews from current employees, stronger among early firm reviews, and also stronger when the employee works in the headquarters state. Decomposing employer ratings, we find the return effect is related to changing employee assessments of Career Opportunities and views of senior management. It is unrelated to work-life balance. Employer rating changes are associated with growth in sales and profitability and help forecast one-quarter-ahead earnings announcement surprises. The evidence is consistent with employee reviews revealing fundamental information about the firm.},
author = {Green, T Clifton and Huang, Ruoyan and Wen, Quan and Zhou, Dexin},
doi = {https://doi.org/10.1016/j.jfineco.2019.03.012},
issn = {0304-405X},
journal = {Journal of Financial Economics},
keywords = {Employee satisfaction,Glassdoor,Market efficiency},
number = {1},
pages = {236--251},
title = {{Crowdsourced employer reviews and stock returns}},
url = {https://www.sciencedirect.com/science/article/pii/S0304405X19300662},
volume = {134},
year = {2019}
}

@TechReport{UNHR2021,
  address = {Geneva, Switzerland},
  author = {{UN Working Group on Business and Human Rights}},
  number = {A/HRC/47/39/Add.2},
  title = {{Taking stock of investor implementation of the UN Guiding Principles on Business and Human Rights }},
  type = {Adendum report of the Working Group on the issue of human rights and
  transnational corporations and other business enterprises},
  year = {2021}
}


@TechReport{BHRC2018,
  address = {New York City, NY},
  author = {{Business and Human Rights Clinic}},
  publisher = {School of International and Public Affairs Institute for the Study of Human Rights, Columbia University},
  title = {{Pension funds and human rights: A study of human rights considerations of pension funds}},
  year = {2018}
}

@Article{AKEY2021,
  author    = {AKEY, Pat and APPEL, Ian},
  journal   = {Journal of Finance},
  title     = {{The limits of limited liability: Evidence from industrial pollution}},
  year      = {2021},
  month     = feb,
  number    = {1},
  pages     = {5--55},
  volume    = {76},
  annote    = {https://doi.org/10.1111/jofi.12978},
  publisher = {John Wiley {\&} Sons, Ltd},
}

@TechReport{Shapira2017,
  author    = {Shapira, Roy and Zingales, Luigi},
  title     = {{Is pollution value-maximizing? The DuPont case}},
  year      = {2017},
  number    = {23866},
  publisher = {National Bureau of Economic Research, Inc},
  series    = {NBER Working Papers},
}

@misc{Hearon2020,
author = {Hearon, Andrea and Zorob, Maysa and Regalia, Stephanie and {Business {\&} Human Rights Resource Centre}},
title = {{Corporate human rights litigation: Trends from 200 seminal lawsuits}},
urldate = {16 Aug. 2021},
year = {2020}
}

@TechReport{BusinessandHumanRightsResourceCentre2021,
  author = {{Business and Human Rights Resource Centre}},
  title  = {{Just recovery in peril: Human rights defenders face increasing risk during COVID-19}},
  year   = {2021},
  school = {Business {\&} Human Rights Resource Centre},
}

@InCollection{Prat2013,
  author    = {Prat, Andrea and Str{\"{o}}mberg, David},
  booktitle = {Advances in economics and econometrics: Tenth world congress: Volume 2: Applied Economics},
  publisher = {Cambridge University Press},
  title     = {{The political economy of mass media}},
  year      = {2013},
  address   = {Cambridge},
  editor    = {Acemoglu, Daron and Dekel, Eddie and Arellano, Manuel},
  pages     = {135--187},
  series    = {Econometric Society Monographs},
  volume    = {2},
}

@Article{DYCK2008,
  author    = {Dyck, Alexander and Volchkova, Natalya and Zingales, Luigi},
  journal   = {Journal of Finance},
  title     = {{The corporate governance role of the media: Evidence from Russia}},
  year      = {2008},
  month     = jun,
  number    = {3},
  pages     = {1093--1135},
  volume    = {63},
  annote    = {https://doi.org/10.1111/j.1540-6261.2008.01353.x},
  publisher = {John Wiley {\&} Sons, Ltd},
}

@Article{Gao2020,
  author   = {Gao, Pengjie and Lee, Chang and Murphy, Dermot},
  journal  = {Journal of Financial Economics},
  title    = {{Financing dies in darkness? The impact of newspaper closures on public finance}},
  year     = {2020},
  number   = {2},
  pages    = {445--467},
  volume   = {135},
  keywords = {Media,Monitoring,Municipal bonds,Public finance},
}
@article{Cline2018,
abstract = {Personal managerial indiscretions are separate from a firm's business activities but provide information about the manager's integrity. Consequently, they could affect counterparties' trust in the firm and the firm's value and operations. We find that companies of accused executives experience significant wealth deterioration, reduced operating margins, and lost business partners. Indiscretions are also associated with an increased probability of unrelated shareholder-initiated lawsuits, Department of Justice and Securities and Exchange Commission investigations, and managed earnings. Further, chief executive officers and boards face labor market consequences, including forced turnover, pay cuts, and lower shareholder votes at re-election. Indiscretions occur more often at poorly governed firms where disciplinary turnover is less likely.},
author = {Cline, Brandon N and Walkling, Ralph A and Yore, Adam S},
journal = {Journal of Financial Economics},
keywords = {CEO turnover,Class action lawsuits,Corporate governance,Director elections,Earnings management,Fraud,Integrity,Management quality,Managerial indiscretions,Managerial labor markets,Poor monitoring index},
number = {2},
pages = {389--415},
title = {{The consequences of managerial indiscretions: Sex, lies, and firm value}},
url = {https://econpapers.repec.org/RePEc:eee:jfinec:v:127:y:2018:i:2:p:389-415},
volume = {127},
year = {2018}
}
@Article{Christensen2016,
  author  = {Christensen, Darin and Hausman, David K},
  journal = {Journal of Law, Economics, and Organization},
  title   = {{Measuring the economic effect of alien tort statute liability}},
  year    = {2016},
  month   = nov,
  number  = {4},
  pages   = {794--815},
  volume  = {32},
}
@article{Lundgren2010,
annote = {doi: 10.1080/09603107.2010.482516},
author = {Lundgren, Tommy and Olsson, Rickard},
doi = {10.1080/09603107.2010.482516},
issn = {0960-3107},
journal = {Applied Financial Economics},
month = {aug},
number = {16},
pages = {1293--1307},
publisher = {Routledge},
title = {{Environmental incidents and firm value–international evidence using a multi-factor event study framework}},
url = {https://doi.org/10.1080/09603107.2010.482516},
volume = {20},
year = {2010}
}
@Article{Barrot2016,
  author  = {Barrot, Jean-No{\"{e}}l and Sauvagnat, Julien},
  journal = {Quarterly Journal of Economics},
  title   = {{Input specificity and the propagation of idiosyncratic shocks in production networks}},
  year    = {2016},
  month   = aug,
  number  = {3},
  pages   = {1543--1592},
  volume  = {131},
}

@Article{Luechinger2014,
  author   = {Luechinger, Simon and Moser, Christoph},
  journal  = {Journal of Public Economics},
  title    = {{The value of the revolving door: Political appointees and the stock market}},
  year     = {2014},
  pages    = {93--107},
  volume   = {119},
  keywords = {Conflicts of interest,Event study,Political appointees,Revolving door,Stock market},
}

@Article{Dutta2018,
  author   = {Dutta, Anupam and Knif, Johan and Kolari, James W and Pynnonen, Seppo},
  journal  = {Journal of Empirical Finance},
  title    = {{A robust and powerful test of abnormal stock returns in long-horizon event studies}},
  year     = {2018},
  pages    = {1--24},
  volume   = {47},
  keywords = {Abnormal returns,IPOs,Long-run event study,SEOs,Standardized returns},
}

@Unpublished{Kappel2009,
  author = {Kappel, Vivien and Schmidt, Peter and Ziegler, Andreas},
  title  = {{Human rights abuse and corporate stock performance---An event study analysis}},
  year   = {2009},
}

@Article{Becchetti2012,
  author   = {Becchetti, Leonardo and Ciciretti, Rocco and Hasan, Iftekhar and Kobeissi, Nada},
  journal  = {Journal of Business Research},
  title    = {{Corporate social responsibility and shareholder's value}},
  year     = {2012},
  number   = {11},
  pages    = {1628--1635},
  volume   = {65},
  keywords = {Corporate social responsibility,Event study,Stock index changes},
}

@Article{Campa2018,
  author    = {Campa, Pamela},
  journal   = {Journal of Environmental Economics and Management},
  title     = {{Press and leaks: Do newspapers reduce toxic emissions?}},
  year      = {2018},
  pages     = {184--202},
  volume    = {91},
  publisher = {Elsevier},
}

@Article{AlAyoubi2021,
  author    = {{Al Ayoubi}, Khalil and Enjolras, Geoffroy},
  journal   = {Business Ethics: A European Review},
  title     = {{How Norway's sovereign wealth fund negative screening affects firms' value and behaviour}},
  year      = {2021},
  number    = {1},
  pages     = {19--37},
  volume    = {30},
  publisher = {Wiley Online Library},
}

@Article{Cole2021,
  author    = {Cole, Rebel and Johan, Sofia and Schweizer, Denis},
  journal   = {Journal of Corporate Finance},
  title     = {{Corporate failures: Declines, collapses, and scandals}},
  year      = {2021},
  pages     = {101872},
  volume    = {67},
  publisher = {Elsevier},
}

@Article{Borelli-Kjaer2021,
  author   = {Borelli-Kjaer, Mads and {Moehl Schack}, Laurids and Nielsson, Ulf},
  journal  = {Journal of Corporate Finance},
  title    = {{{\#}MeToo: Sexual harassment and company value}},
  year     = {2021},
  pages    = {101875},
  volume   = {67},
  keywords = {Company value,Corporate scandals,MeToo,Sexual harassment},
}
@unpublished{Dag1998,
author = {Dag, Nihat and {Von Eije}, Henk and Pennink, Bartjan},
publisher = {University of Groningen},
title = {{Human rights and multinational firm returns}},
year = {1998}
}

@Article{Tetlock2015,
  author    = {Tetlock, Paul C},
  journal   = {Handbook of media Economics},
  title     = {{The role of media in finance}},
  year      = {2015},
  pages     = {701--721},
  volume    = {1},
  publisher = {Elsevier},
}

@Article{Mnasri2016,
  author   = {Mnasri, Ayman and Nechi, Salem},
  journal  = {Emerging Markets Review},
  title    = {{Impact of terrorist attacks on stock market volatility in emerging markets}},
  year     = {2016},
  pages    = {184--202},
  volume   = {28},
  keywords = {Bootstrapping,Emerging markets,Event study,Stock market volatility},
}

@Article{Enikolopov2018,
  author  = {Enikolopov, Ruben and Petrova, Maria and Sonin, Konstantin},
  journal = {American Economic Journal: Applied Economics},
  title   = {{Social media and corruption}},
  year    = {2018},
  number  = {1},
  pages   = {150--174},
  volume  = {10},
}

@Article{Tetlock2014,
  author    = {Tetlock, Paul C},
  journal   = {Annual Review of Financial Economics},
  title     = {{Information transmission in finance}},
  year      = {2014},
  number    = {1},
  pages     = {365--384},
  volume    = {6},
  publisher = {Annual Reviews},
}

@Article{corrado1992,
  author  = {Corrado, Charles and Zivney, Terry L},
  journal = {Journal of Financial and Quantitative Analysis},
  title   = {{The specification and power of the sign test in event study hypothesis tests using daily stock returns}},
  year    = {1992},
  number  = {03},
  pages   = {465--478},
  volume  = {27},
}

@Article{Malmendier2018,
  author  = {Malmendier, Ulrike and Moretti, Enrico and Peters, Florian S},
  journal = {Review of Financial Studies},
  title   = {{Winning by losing: Evidence on the long-run effects of mergers}},
  year    = {2018},
  month   = aug,
  number  = {8},
  pages   = {3212--3264},
  volume  = {31},
}

@Article{fearon_laitin_2003,
  author    = {Fearon, James D and Laitin, David D},
  journal   = {American Political Science Review},
  title     = {{Ethnicity, insurgency, and civil War}},
  year      = {2003},
  number    = {1},
  pages     = {75--90},
  volume    = {97},
  publisher = {Cambridge University Press},
}
@book{keck2014activists,
author = {Keck, Margaret E and Sikkink, Kathryn},
publisher = {Cornell University Press},
title = {{Activists beyond borders: Advocacy networks in international politics}},
year = {2014}
}
@article{bushee2010role,
author = {Bushee, Brian J and Core, John E and Guay, Wayne and Hamm, Sophia J W},
journal = {Journal of Accounting Research},
number = {1},
pages = {1--19},
publisher = {Wiley Online Library},
title = {{The role of the business press as an information intermediary}},
volume = {48},
year = {2010}
}
@article{tetlock2007,
author = {Tetlock, Paul C},
journal = {Journal of Finance},
number = {3},
pages = {1139--1168},
publisher = {Wiley Online Library},
title = {{Giving content to investor sentiment: The role of media in the stock market}},
volume = {62},
year = {2007}
}
@article{bruederle2018,
author = {Bruederle, Anna and Hodler, Roland},
journal = {Proceedings of the National Academy of Sciences},
number = {12},
pages = {5467--5471},
title = {{Effect of oil spills on infant mortality in Nigeria}},
volume = {116},
year = {2019}
}

@Article{fukuyama2016,
  author    = {Fukuyama, Francis},
  journal   = {Annual Review of Political Science},
  title     = {{Governance: What do we know, and how do we know it?}},
  year      = {2016},
  pages     = {89},
  volume    = {19},
  address   = {Palo Alto},
  keywords  = {Sovereignty ; Poverty ; Corruption ; Globalization},
  publisher = {Annual Reviews, Inc.},
}
@article{griffin2011important,
author = {Griffin, John M and Hirschey, Nicholas H and Kelly, Patrick J},
journal = {Review of Financial Studies},
number = {12},
pages = {3941--3992},
publisher = {Oxford University Press},
title = {{How important is the financial media in global markets?}},
volume = {24},
year = {2011}
}
@article{cousins2020,
author = {Cousins, Paul and Dutordoir, Marie and Lawson, Benn and Neto, Jo{\~{A}}{\pounds}o Quariguasi Frota},
journal = {Management Science},
title = {{Shareholder wealth effects of modern slavery regulation}},
volume = {forthcoming},
year = {2020}
}
@book{acemoglu2020narrow,
author = {Acemoglu, Daron and Robinson, James A},
publisher = {Penguin Books},
title = {{The narrow corridor: States, societies, and the fate of liberty}},
year = {2020}
}

@Article{chung2011,
  author    = {Chung, Kee H and Zhang, Hao},
  journal   = {Journal of Financial and Quantitative Analysis},
  title     = {{Corporate governance and institutional ownership}},
  year      = {2011},
  number    = {1},
  pages     = {247--273},
  volume    = {46},
  keywords  = {Business;},
  publisher = {Cambridge University Press},
}

@Article{Maystadt_DRC,
  author  = {Maystadt, Jean-Fran{\c{c}}ois and {De Luca}, Giacomo and Sekeris, Petros G and Ulimwengu, John},
  journal = {Oxford Economic Papers},
  title   = {{Mineral resources and conflicts in DRC: A case of ecological fallacy?}},
  year    = {2013},
  number  = {3},
  pages   = {721--749},
  volume  = {66},
}
@article{sundberg_UCDP_GED,
author = {Sundberg, Ralph and Melander, Erik},
journal = {Journal of Peace Research},
number = {4},
pages = {523--532},
publisher = {Sage Publications Sage UK: London, England},
title = {{Introducing the UCDP georeferenced event dataset}},
volume = {50},
year = {2013}
}
@incollection{Kalyvas2019,
author = {Kalyvas, Stathis N},
booktitle = {The Oxford Handbook of Terrorism},
doi = {10.1093/oxfordhb/9780198732914.013.1},
editor = {Chenoweth, Erica and English, Richard and Gofas, Andreas and Kalyvas, Stathis N},
isbn = {9780198732914},
month = {mar},
pages = {0},
publisher = {Oxford University Press},
title = {{The Landscape of Political Violence}},
url = {https://doi.org/10.1093/oxfordhb/9780198732914.013.1},
year = {2019}
}

@article{Bob2007,
author = {Bob, Clifford and Nepstad, Sharon Erickson},
issn = {0002-7642},
journal = {American Behavioral Scientist},
number = {10},
pages = {1370--1394},
publisher = {Sage Publications Sage CA: Los Angeles, CA},
title = {{Kill a leader, murder a movement? Leadership and assassination in social movements}},
volume = {50},
year = {2007}
}
@article{Honig2007,
author = {Honig, Or},
issn = {1057-610X},
journal = {Studies in Conflict & Terrorism},
number = {6},
pages = {563--577},
publisher = {Taylor & Francis},
title = {{Explaining Israel's misuse of strategic assassinations}},
volume = {30},
year = {2007}
}
@techreport{InternationalEnergyAgency2021,
address = {Paris},
author = {{IEA}},
institution = {International Energy Agency},
title = {{Mineral requirements for clean energy transitions – The Role of Critical Minerals in Clean Energy Transitions}},
url = {https://www.iea.org/reports/the-role-of-critical-minerals-in-clean-energy-transitions/mineral-requirements-for-clean-energy-transitions},
year = {2021}
}
@techreport{UNSGPCETM2024,
author = {{UN Secretary-General's Panel on Critical Energy Transition Minerals}},
institution = {United Nations},
title = {{Resourcing the energy transition. Principles to guide critical energy transition minerals towards equity and justice.}},
url = {https://www.un.org/sites/un2.un.org/files/report_sg_panel_on_critical_energy_transition_minerals_11_sept_2024.pdf},
year = {2024}
}
@article{Owen2023,
abstract = {Rapidly transitioning the global energy system to renewables is considered necessary to combat climate change. Current estimates suggest that at least 30 energy transition minerals and metals (ETMs) form the material base for the energy transition. The inventory of ETMs indicates a high level of intersectionality with territories less impacted by the historic forces of industrialization. To identify the current global footprint, 5,097 ETM projects were geo-located against indicators for indigeneity, human modification of land, food production, water risk, conflict, as well as capacity measures for project permitting, consultation and consent. Study results differentiate ETMs to improve visibility over linkages between technology, resources and sustainability objectives. Our analysis reveals that more than half of the ETM resource base is located on or near the lands of Indigenous and peasant peoples, two groups whose rights to consultation and free prior informed consent are embedded in United Nations declarations.},
author = {Owen, John R and Kemp, Deanna and Lechner, Alex M and Harris, Jill and Zhang, Ruilian and L{\`{e}}bre, {\'{E}}l{\'{e}}onore},
doi = {10.1038/s41893-022-00994-6},
issn = {2398-9629},
journal = {Nature Sustainability},
number = {2},
pages = {203--211},
title = {{Energy transition minerals and their intersection with land-connected peoples}},
url = {https://doi.org/10.1038/s41893-022-00994-6},
volume = {6},
year = {2023}
}
@techreport{BusinessHumanRightsResourceCentre2024,
address = {New York},
author = {{Business and Human Rights Resource Centre}},
institution = {Business and Human Rights Resource Centre},
title = {{Transition Minerals Tracker: 2024 Analysis}},
url = {https://media.business-humanrights.org/media/documents/2024_Transition_Minerals_Tracker_EN.pdf},
year = {2024}
}
@article{Weldemikael2024,
abstract = { This paper aims at analyzing the reporting of assassinations in the Ethiopian press from a discourse analytical perspective. The study attempted to answer three questions: 1) How are assassinations represented in the press? 2) What identities are set up for those involved in the assassinations? And, finally, how is meaning communicated in various discursive structures and communicative events? To that end, the study employed Jeffrie's critical stylistics as an analytical framework within a qualitative design. The data were collected from five Ethiopian newspapers that were selected purposively in line with predetermined criteria. A corpus of 102 media stories that were published from June 2018 to June 2020 was setup. The findings show that each outlet reported the incidents synonymously, emphasizing a scapegoating process that could ideologically reaffirm the dominant political discourse. In doing so, four naming and labeling strategies were identified: lionizing (making the dead a hero), blaming and demonizing, victimizing (making the dead innocent and martyrs), and ethnification (connecting both the victims and offenders to their ethnic belongings). Polarized representations of actions, space, time, and society were evident in the selected stories. The government, together with its different organs and affiliates, was used as the sole and primary source of information. The voices of the government on the incidents were reported as widely accepted facts, as evidenced by the blurred line between direct and indirect speeches. This in turn helped to reaffirm the existing dominant political discourse – the status quo. },
author = {Weldemikael, Berhanu Asfaw},
doi = {10.1177/09579265241234026},
journal = {Discourse & Society},
number = {5},
pages = {651--672},
title = {{Reporting assassinations in the Ethiopian press}},
url = {https://doi.org/10.1177/09579265241234026},
volume = {35},
year = {2024}
}
@book{TheAssociatedPress2000,
address = {New York},
author = {{The Associated Press}},
edition = {35th},
editor = {Goldstein, Norm},
mendeley-groups = {MIning},
publisher = {The Associated Press},
title = {{The Associated Press Stylebook}},
year = {2000}
}
@book{GlobalInitiativeAgainstTransnationalOrganizedCrime2020,
address = {Geneva},
author = {{Global Initiative Against Transnational Organized Crime}},
isbn = {978-2-8399-2796-3},
publisher = {Global Initiative Against Transnational Organized Crime},
title = {{Faces of Assassination: Bearing witness to the victims of organized crime}},
year = {2020}
}
@article{Bakke2020,
abstract = {Research suggests that civil society mobilization together with the ratification of human rights treaties put pressure on governments to improve their human rights practices. An unexplored theoretical implication is that pressure provokes counterpressure. Instead of improving treaty compliance, some governments will have an interest in demobilizing civil society to silence their critics. Yet we do not know how and to what extent this incentive shapes governments' policies and practices regarding civil society organizations. In this article we argue and show—using a new global database of government-sponsored restrictions on civil society organizations—that when governments have committed to human rights treaties and, at the same time, continue to commit severe human rights abuses, they impose restrictions on civil society groups to avoid monitoring and mitigate the international costs of abuses.},
author = {Bakke, Kristin M and Mitchell, Neil J and Smidt, Hannah M},
doi = {10.1093/isq/sqz088},
issn = {0020-8833},
journal = {International Studies Quarterly},
month = {mar},
number = {1},
pages = {85--96},
title = {{When states crack down on human rights defenders}},
url = {https://doi.org/10.1093/isq/sqz088},
volume = {64},
year = {2020}
}
@article{Krain2023,
abstract = {When are human rights defenders at risk of being killed? Echoing research on journalist killings, we argue that a democratic context makes it easier for human rights defenders to operate and incentivizes them to continue activities and to pursue information that puts them at risk. De jure protections that defenders have may not be enforced or may not protect defenders from bad actors engaging in politically motivated murder. These factors make human rights defenders more likely to be killed by actors trying to avoid the spotlight and exposure in democratic systems than in other types of regimes. Autocratic regimes provide fewer opportunities to freely advocate for human rights and to pursue or disseminate information about human rights violations by state or non-state actors, reducing the likelihood of defender mortality. Using two new sets of cross-national data on the number of killings of human rights defenders between 1997 and 2010 and from 2014 to 2020, we find that these arguments are generally supported when controlling for other factors that affect the killing of human rights defenders, particularly in democracies with lower state capacity.},
annote = {doi: 10.1177/10659129231217282},
author = {Krain, Matthew and Murdie, Amanda and Beard, Abigail},
doi = {10.1177/10659129231217282},
issn = {1065-9129},
journal = {Political Research Quarterly},
month = {nov},
number = {1},
pages = {401--416},
publisher = {SAGE Publications Inc},
title = {{Silencing Human Rights Defenders Once and for All? Determinants of Human Rights Defenders' Killings}},
url = {https://doi.org/10.1177/10659129231217282},
volume = {77},
year = {2023}
}
@article{Davenport2007,
author = {Davenport, Christian},
doi = {https://doi.org/10.1146/annurev.polisci.10.101405.143216},
issn = {1545-1577},
journal = {Annual Review of Political Science},
keywords = {coercion,conflict,human rights,order},
number = {Volume 10, 2007},
pages = {1--23},
publisher = {Annual Reviews},
title = {{State Repression and Political Order}},
type = {Journal Article},
url = {https://www.annualreviews.org/content/journals/10.1146/annurev.polisci.10.101405.143216},
volume = {10},
year = {2007}
}

@techreport{Albarracin2024,
address = {Frankfurt},
author = {Albarrac{\'{i}}n, Juan and Wolff, Jonas},
institution = {TraCe Research Center Transformations of Political Violence.},
series = {Working Paper Series},
title = {{Targeted Violence Against Social Activists}},
year = {2024}
}
@techreport{Perliger2015,
author = {Perliger, Arie},
booktitle = {The Rationale of Political Assassinations},
institution = {Combatting Terrorism Center at West Point},
mendeley-groups = {Mining},
month = {oct},
pages = {75--85},
publisher = {Combatting Terrorism Center at West Point},
title = {{The Consequences of Political Assassinations}},
url = {http://www.jstor.org.ezproxy-prd.bodleian.ox.ac.uk/stable/resrep05630.9},
year = {2015}
}
@article{Senn2017,
annote = {doi: 10.1080/13523260.2017.1336604},
author = {Senn, Martin and Troy, Jodok},
doi = {10.1080/13523260.2017.1336604},
issn = {1352-3260},
journal = {Contemporary Security Policy},
month = {may},
number = {2},
pages = {175--211},
publisher = {Routledge},
title = {{The transformation of targeted killing and international order}},
url = {https://doi.org/10.1080/13523260.2017.1336604},
volume = {38},
year = {2017}
}
@article{Boomgaarden2007,
author = {Boomgaarden, Hajo G and de Vreese, Claes H},
doi = {10.1093/ijpor/edm012},
issn = {0954-2892},
journal = {International Journal of Public Opinion Research},
mendeley-groups = {Mining},
month = {oct},
number = {3},
pages = {354--366},
title = {{Dramatic Real-world Events and Public Opinion Dynamics: Media Coverage and its Impact on Public Reactions to an Assassination}},
url = {https://doi.org/10.1093/ijpor/edm012},
volume = {19},
year = {2007}
}
@article{Landman2006,
abstract = {Human rights defenders have received renewed attention in the current period owing to new institutional and normative developments at the international level and renewed targeting by states at the domestic level. Human rights NGOs have begun to argue more forcefully that human rights defenders are more at risk from attack by their governments under the guise of the ?war on terror?, an assertion that is supported by the fact that an increasing number of states have enacted anti-terror legislation. Using a cross-national data set of 195 countries for the period 1997 to 2003, this article explores the main factors that account for the cross-national variation in acts of abuse against human rights defenders in the post 9/11 era, including the presence of anti-terror legislation. In addition to the examination of the effects of democracy, economic development, intra-state war, population size and US overseas aid, the analysis shows that while reported abuse against human rights defenders has indeed increased since 2001, this increase is not attributable to the enactment of anti-terror legislation, a finding that is further mediated by the fact that just over half of the countries that have enacted such legislation are democracies.},
annote = {doi: 10.1111/j.1467-856x.2006.00216.x},
author = {Landman, Todd},
doi = {10.1111/j.1467-856x.2006.00216.x},
issn = {1369-1481},
journal = {The British Journal of Politics and International Relations},
mendeley-groups = {Mining},
month = {may},
number = {2},
pages = {123--147},
publisher = {SAGE Publications},
title = {{Holding the Line: Human Rights Defenders in the Age of Terror}},
url = {https://doi.org/10.1111/j.1467-856x.2006.00216.x},
volume = {8},
year = {2006}
}
@techreport{Lawlor2021,
abstract = {A/HRC/46/35},
author = {Lawlor, Mary},
mendeley-groups = {Mining},
title = {{Final warning: death threats and killings of human rights defenders}},
type = {Report of the Special Rapporteur on the Situation of Human Rights Defenders},
institution = {UN. Human Rights Council.},
year = {2021}
}

 

@misc{Forst2018,
author = {Forst, Michel},
mendeley-groups = {Mining},
publisher = {Office of the United Nations Special Rapporteur on the Situation of Human Rights Defenders},
title = {{World Report on the Situation of Human Rights Defenders}},
year = {2018}
}
@techreport{FrontlineDefenders2023,
address = {Dublin, Ireland},
author = {{Frontline Defenders}},
institution = {Frontline Defenders},
mendeley-groups = {Mining},
title = {{Frontline Defenders: Global Analysis 23/24}},
year = {2023}
}

@article{Chaudhry2022,
annote = {doi: 10.1080/14754835.2022.2030205},
author = {Chaudhry, Suparna and Heiss, Andrew},
doi = {10.1080/14754835.2022.2030205},
issn = {1475-4835},
journal = {Journal of Human Rights},
month = {mar},
number = {2},
pages = {123--140},
publisher = {Routledge},
title = {{NGO repression as a predictor of worsening human rights abuses}},
url = {https://doi.org/10.1080/14754835.2022.2030205},
volume = {21},
year = {2022}
}
@book{Davenport2014,
abstract = {How do social movements die? Some explanations highlight internal factors like factionalization, whereas others stress external factors like repression. Christian Davenport offers an alternative explanation where both factors interact. Drawing on organizational, as well as individual-level, explanations, Davenport argues that social movement death is the outgrowth of a coevolutionary dynamic whereby challengers, influenced by their understanding of what states will do to oppose them, attempt to recruit, motivate, calm, and prepare constituents while governments attempt to hinder all of these processes at the same time. Davenport employs a previously unavailable database that contains information on a black nationalist/secessionist organization, the Republic of New Africa, and the activities of authorities in the US city of Detroit and state and federal authorities.},
address = {Cambridge},
author = {Davenport, Christian},
booktitle = {Cambridge Studies in Contentious Politics},
doi = {DOI: 10.1017/CBO9781139649728},
isbn = {9781107041493},
publisher = {Cambridge University Press},
title = {{How Social Movements Die: Repression and Demobilization of the Republic of New Africa}},
url = {https://www.cambridge.org/core/product/EAA7CE7513F17C7C832D34CD21C85173},
year = {2014}
}

@article{Carey2021,
author = {Carey, Sabine C and Gohdes, Anita R},
issn = {0022-3816},
journal = {The Journal of Politics},
number = {4},
pages = {1216--1228},
publisher = {The University of Chicago Press Chicago, IL},
title = {{Understanding journalist killings}},
volume = {83},
year = {2021}
}

@article{Mandala2017,
author = {Mandala, Marissa},
issn = {1746-7586},
journal = {Dynamics of Asymmetric Conflict},
mendeley-groups = {Mining},
number = {1},
pages = {14--39},
publisher = {Taylor & Francis},
title = {{Assassination as a terrorist tactic: a global analysis}},
volume = {10},
year = {2017}
}
@article{Carey2021,
author = {Carey, Sabine C and Gohdes, Anita R},
issn = {0022-3816},
journal = {The Journal of Politics},
number = {4},
pages = {1216--1228},
publisher = {The University of Chicago Press Chicago, IL},
title = {{Understanding journalist killings}},
volume = {83},
year = {2021}
}
@article{LeBillon2020,
author = {{Le Billon}, Philippe and Lujala, P{\"{a}}ivi},
doi = {https://doi.org/10.1016/j.gloenvcha.2020.102163},
issn = {0959-3780},
journal = {Global Environmental Change},
keywords = {Environmental change,Environmental defenders,Environmental movements,Indigenous peoples,Natural resources,Repression},
mendeley-groups = {Mining},
pages = {102163},
title = {{Environmental and land defenders: Global patterns and determinants of repression}},
url = {https://www.sciencedirect.com/science/article/pii/S0959378020307469},
volume = {65},
year = {2020}
}

@Article{eisensee2007,
  author  = {Eisensee, Thomas and Str{\"{o}}mberg, David},
  journal = {Quarterly Journal of Economics},
  title   = {{News droughts, news floods, and U. S. disaster relief}},
  year    = {2007},
  number  = {2},
  pages   = {693--728},
  volume  = {122},
}

@article{jetter2022,
title = {{News coverage and mass shootings in the US}},
journal = {European Economic Review},
volume = {148},
pages = {104221},
year = {2022},
issn = {0014-2921},
doi = {https://doi.org/10.1016/j.euroecorev.2022.104221},
url = {https://www.sciencedirect.com/science/article/pii/S0014292122001271},
author = {Michael Jetter and Jay K. Walker},
keywords = {Contagion effects, Mass shootings, Media effects}
}

@Article{hill2013,
  author    = {{Hill Jr}, Daniel W and Moore, Will H and Mukherjee, Bumba},
  journal   = {International Studies Quarterly},
  title     = {{Information politics versus organizational incentives: When are Amnesty International's {\textquotedblleft}naming and shaming{\textquotedblright} reports biased?}},
  year      = {2013},
  number    = {2},
  pages     = {219--232},
  volume    = {57},
  publisher = {Blackwell Publishing Ltd Oxford, UK},
}
@article{police_killings,
author = {Keith, Katherine A and Handler, Abram and Pinkham, Michael and Magliozzi, Cara and McDuffie, Joshua and O'Connor, Brendan},
journal = {arXiv preprint arXiv:1707.07086},
title = {{Identifying civilians killed by police with distantly supervised entity-event extraction}},
year = {2017}
}
@article{yanagizawa2014,
author = {Yanagizawa-Drott, David},
journal = {Quarterly Journal of Economics},
number = {4},
pages = {1947--1994},
publisher = {MIT Press},
title = {{Propaganda and conflict: Evidence from the Rwandan genocide}},
volume = {129},
year = {2014}
}

@Article{abadie_kasy,
  author  = {Abadie, Alberto and Kasy, Maximilian},
  journal = {Review of Economics and Statistics},
  title   = {{Choosing among regularized estimators in empirical economics - The risk of machine learning}},
  year    = {2019},
  volume  = {Forthcomin},
}
@article{do2020,
author = {Do, Quoc-Anh and Galbiati, Roberto and Marx, Benjamin and {Ortiz Serrano}, Miguel Angel},
journal = {CEPR Discussion Papers 14826},
title = {{J'accuse! Antisemitism and financial markets in the time of the Dreyfus affair}},
year = {2020}
}

@Article{puckett2011,
  author    = {Puckett, Andy and Yan, Xuemin (Sterling)},
  journal   = {Journal of Finance},
  title     = {{The interim trading skills of institutional investors}},
  year      = {2011},
  number    = {2},
  pages     = {601--633},
  volume    = {66},
  address   = {Malden, USA},
  keywords  = {Institutional Investments;},
  publisher = {Blackwell Publishing Inc},
}

@Article{snyder2010,
  author    = {Snyder, James M and Str{\"{o}}mberg, David},
  journal   = {Journal of Political Economy},
  title     = {{Press coverage and political accountability}},
  year      = {2010},
  number    = {2},
  pages     = {355--408},
  volume    = {118},
  publisher = {The University of Chicago Press},
}

@Article{mueller_rauh_2018,
  author    = {Mueller, Hannes and Rauh, Christopher},
  journal   = {American Political Science Review},
  title     = {{Reading between the lines: Prediction of political violence using newspaper text}},
  year      = {2018},
  number    = {2},
  pages     = {358--375},
  volume    = {112},
  publisher = {Cambridge University Press},
}

@Article{dellavigna2010,
  author  = {DellaVigna, Stefano and {La Ferrara}, Eliana},
  journal = {American Economic Journal: Economic Policy},
  title   = {{Detecting illegal arms trade}},
  year    = {2010},
  month   = nov,
  number  = {4},
  pages   = {26--57},
  volume  = {2},
}
@article{kolari2011grank,
author = {Kolari, James W and Pynn{\"{o}}nen, Seppo},
journal = {Journal of Empirical Finance},
number = {5},
pages = {953--971},
publisher = {Elsevier},
title = {{Nonparametric rank tests for event studies}},
volume = {18},
year = {2011}
}

@Article{dyke2019,
  author    = {Dyck, Alexander and Lins, Karl V and Roth, Lukas and Wagner, Hannes F},
  journal   = {Journal of Financial Economics},
  title     = {{Do institutional investors drive corporate social responsibility? International evidence}},
  year      = {2019},
  number    = {3},
  pages     = {693--714},
  volume    = {131},
  keywords  = {Corporate Social Responsibility ; Institutional In},
  publisher = {Elsevier B.V},
}
@article{li2006dividend,
author = {Li, Wei and Lie, Erik},
journal = {Journal of Financial Economics},
number = {2},
pages = {293--308},
publisher = {Elsevier},
title = {{Dividend changes and catering incentives}},
volume = {80},
year = {2006}
}

@Article{hong2009,
  author    = {Hong, Harrison and Kacperczyk, Marcin},
  journal   = {Journal of Financial Economics},
  title     = {{The price of sin: The effects of social norms on markets}},
  year      = {2009},
  number    = {1},
  pages     = {15--36},
  volume    = {93},
  keywords  = {Expected Stock Returns ; Institutional Ownership ;},
  publisher = {Elsevier B.V},
}
@book{Ruggie2013,
author = {Ruggie, J G},
publisher = {W. W. Norton},
series = {Norton Global Ethics Series},
title = {{Just business: Multinational corporations and human rights}},
year = {2013}
}

@Article{Scholte2002,
  author    = {Scholte, Jan Aart},
  journal   = {Global Governance},
  title     = {{Civil society and democracy in global governance}},
  year      = {2002},
  month     = aug,
  number    = {3},
  pages     = {281--304},
  volume    = {8},
  publisher = {Lynne Rienner Publishers},
}

@Article{aggarwal2011,
  author    = {Aggarwal, Reena and Erel, Isil and Ferreira, Miguel and Matos, Pedro},
  journal   = {Journal of Financial Economics},
  title     = {{Does governance travel around the world? Evidence from institutional investors}},
  year      = {2011},
  number    = {1},
  pages     = {154--181},
  volume    = {100},
  keywords  = {Institutional Investors ; Corporate Governance ; S},
  publisher = {Elsevier B.V},
}

@Book{McGrew2002,
  editor    = {McGrew, A and Held, D},
  publisher = {Polity Press},
  title     = {{Governing globalization: Power, authority and global governance}},
  year      = {2002},
}

@Article{Sending2006,
  author  = {Sending, Ole Jacob and Neumann, Iver B},
  journal = {International Studies Quarterly},
  title   = {{Governance to governmentality: Analyzing NGOs, states, and power}},
  year    = {2006},
  month   = sep,
  number  = {3},
  pages   = {651--672},
  volume  = {50},
}

@Article{Lunnan2019,
  author   = {Lunnan, Randi and McGaughey, Sara L},
  journal  = {Journal of World Business},
  title    = {{Orchestrating international production networks when formal authority shifts}},
  year     = {2019},
  number   = {5},
  pages    = {101000},
  volume   = {54},
  keywords = {Coordination and safeguarding,International production network,Network orchestration,Orchestration mechanisms,Qualitative case study},
}

@Article{Schrempf-Stirling2017,
  author  = {Schrempf-Stirling, Judith and Wettstein, Florian},
  journal = {Journal of Business Ethics},
  title   = {{Beyond guilty verdicts: Human rights litigation and its impact on corporations' human rights policies}},
  year    = {2017},
  number  = {3},
  pages   = {545--562},
  volume  = {145},
}
@article{blei2003latent,
author = {Blei, David M and Ng, Andrew Y and Jordan, Michael I},
journal = {Journal of Machine Learning Research},
number = {Jan},
pages = {993--1022},
title = {{Latent dirichlet allocation}},
volume = {3},
year = {2003}
}
@article{dai2015governance,
author = {Dai, Lili and Parwada, Jerry T and Zhang, Bohui},
journal = {Journal of Accounting Research},
number = {2},
pages = {331--366},
publisher = {Wiley Online Library},
title = {{The governance effect of the media's news dissemination role: Evidence from insider trading}},
volume = {53},
year = {2015}
}
@article{cui2020,
author = {Cui, Bei and Docherty, Peter},
journal = {MCFS Working Paper 01-20},
title = {{Stock price overreaction to ESG controversies}},
year = {2020}
}
@article{kolari2010rho,
author = {Kolari, James W and Pynn{\"{o}}nen, Seppo},
journal = {Review of Financial Studies},
number = {11},
pages = {3996--4025},
publisher = {Oxford University Press},
title = {{Event study testing with cross-sectional correlation of abnormal returns}},
volume = {23},
year = {2010}
}

@Book{mining_philippines_book,
  author    = {Holden, William N and Jacobson, R Daniel},
  publisher = {Anthem Press},
  title     = {{Mining and natural hazard vulnerability in the Philippines: Digging to development or digging to disaster?}},
  year      = {2012},
}
@article{kuhnen2012public,
author = {Kuhnen, Camelia M and Niessen, Alexandra},
journal = {Management Science},
number = {7},
pages = {1249--1272},
publisher = {INFORMS},
title = {{Public opinion and executive compensation}},
volume = {58},
year = {2012}
}

@Article{shleifer2004,
  author  = {Shleifer, Andrei},
  journal = {American Economic Review},
  title   = {{Does competition destroy ethical behavior?}},
  year    = {2004},
  month   = may,
  number  = {2},
  pages   = {414--418},
  volume  = {94},
}

@Article{Herron2000,
  author    = {Herron, Michael C},
  journal   = {American Journal of Political Science},
  title     = {{Estimating the economic impact of political party competition in the 1992 British election}},
  year      = {2000},
  month     = dec,
  number    = {2},
  pages     = {326--337},
  volume    = {44},
  publisher = {[Midwest Political Science Association, Wiley]},
}

@Article{knutsen2017,
  author   = {Knutsen, Carl Henrik and Kotsadam, Andreas and Olsen, Eivind Hammersmark and Wig, Tore},
  journal  = {American Journal of Political Science},
  title    = {{Mining and local corruption in Africa}},
  year     = {2017},
  number   = {2},
  pages    = {320--334},
  volume   = {61},
  keywords = {Mining Industry -- Analysis ; Market Surveys -- Anal},
}
@misc{athey2017matrix,
archivePrefix = {arXiv},
arxivId = {math.ST/1710.10251},
author = {Athey, Susan and Bayati, Mohsen and Doudchenko, Nikolay and Imbens, Guido and Khosravi, Khashayar},
eprint = {1710.10251},
primaryClass = {math.ST},
title = {{Matrix completion methods for causal panel data models}},
year = {2017}
}
@article{birz2011effect,
author = {Birz, Gene and {Lott Jr}, John R},
journal = {Journal of Banking {\&} Finance},
number = {11},
pages = {2791--2800},
publisher = {Elsevier},
title = {{The effect of macroeconomic news on stock returns: New evidence from newspaper coverage}},
volume = {35},
year = {2011}
}
@article{fang2009media,
author = {Fang, Lily and Peress, Joel},
journal = {Journal of Finance},
number = {5},
pages = {2023--2052},
publisher = {Wiley Online Library},
title = {{Media coverage and the cross-section of stock returns}},
volume = {64},
year = {2009}
}
@article{murdie2014,
author = {Murdie, Amanda and Peksen, Dursun},
journal = {Journal of Politics},
number = {1},
pages = {215--228},
publisher = {Cambridge University Press New York, USA},
title = {{The impact of human rights INGO shaming on humanitarian interventions}},
volume = {76},
year = {2014}
}

@Article{cella2013,
  author    = {Cella, Cristina and Ellul, Andrew and Giannetti, Mariassunta},
  journal   = {Review of Financial Studies},
  title     = {{Investors' horizons and the amplification of market shocks}},
  year      = {2013},
  number    = {7},
  pages     = {1607--1648},
  volume    = {26},
  keywords  = {G11 ; G12 ; G14 ; G18 ; G22},
  publisher = {Oxford University Press},
}

@Article{guidolin_ferrara_2010,
  author  = {Guidolin, Massimo and {La Ferrara}, Eliana},
  journal = {Journal of Peace Research},
  title   = {{The economic effects of violent conflict: Evidence from asset market reactions}},
  year    = {2010},
  number  = {6},
  pages   = {671--684},
  volume  = {47},
}

@Article{gargano2017,
  author    = {Gargano, Antonio and Rossi, Alberto G and Wermers, Russ},
  journal   = {Review of Financial Studies},
  title     = {{The freedom of information act and the race toward information acquisition}},
  year      = {2017},
  number    = {6},
  pages     = {2179--2228},
  volume    = {30},
  keywords  = {G14 ; G18 ; G23},
  publisher = {Oxford University Press},
}

@Article{dube_colombia,
  author  = {Dube, Oeindrila and Vargas, Juan F},
  journal = {Review of Economic Studies},
  title   = {{Commodity price shocks and civil conflict: Evidence from Colombia}},
  year    = {2013},
  number  = {4},
  pages   = {1384--1421},
  volume  = {80},
}
@article{ruggie2018,
author = {Ruggie, John Gerard},
journal = {Regulation {\&} Governance},
number = {3},
pages = {317--333},
publisher = {Wiley Online Library},
title = {{Multinationals as global institution: Power, authority and relative autonomy}},
volume = {12},
year = {2018}
}
@article{you2018,
author = {You, Jiaxing and Zhang, Bohui and Zhang, Le},
journal = {Review of Financial Studies},
number = {1},
pages = {43--96},
publisher = {Oxford University Press},
title = {{Who captures the power of the pen?}},
volume = {31},
year = {2018}
}
@article{schoenherr2018,
author = {Schoenherr, David},
journal = {Journal of Finance},
number = {2},
pages = {543--586},
title = {{Political connections and allocative distortions}},
volume = {74},
year = {2019}
}

@Article{olken2009,
  author  = {Olken, Benjamin A},
  journal = {American Economic Journal: Applied Economics},
  title   = {{Do television and radio destroy social capital? Evidence from Indonesian villages}},
  year    = {2009},
  month   = oct,
  number  = {4},
  pages   = {1--33},
  volume  = {1},
}
@article{manela2017news,
author = {Manela, Asaf and Moreira, Alan},
journal = {Journal of Financial Economics},
number = {1},
pages = {137--162},
publisher = {Elsevier},
title = {{News implied volatility and disaster concerns}},
volume = {123},
year = {2017}
}

@Article{elghoul2011,
  author    = {{El Ghoul}, Sadok and Guedhami, Omrane and Kwok, Chuck C Y and Mishra, Dev R},
  journal   = {Journal of Banking and Finance},
  title     = {{Does corporate social responsibility affect the cost of capital?}},
  year      = {2011},
  number    = {9},
  pages     = {2388--2406},
  volume    = {35},
  keywords  = {Stakeholder Theory ; Corporate Social Responsibili},
  publisher = {Elsevier B.V},
}
@article{krueger2015,
author = {Kr{\"{u}}ger, Philipp},
journal = {Journal of Financial Economics},
number = {2},
pages = {304--329},
title = {{Corporate goodness and shareholder wealth}},
volume = {115},
year = {2015}
}
@article{campbell1993,
author = {Campbell, Cynthia J and Wesley, Charles E},
journal = {Journal of Financial Economics},
number = {1},
pages = {73--92},
publisher = {Elsevier},
title = {{Measuring security price performance using daily NASDAQ returns}},
volume = {33},
year = {1993}
}

@article{dougal2012journalists,
author = {Dougal, Casey and Engelberg, Joseph and Garcia, Diego and Parsons, Christopher A},
journal = {Review of Financial Studies},
number = {3},
pages = {639--679},
publisher = {Oxford University Press},
title = {{Journalists and the stock market}},
volume = {25},
year = {2012}
}
@article{hamm2013human,
author = {Hamm, Brigitte and Schax, Anne and Scheper, Christian},
journal = {Mindanao, Philippines, Aachen/Luzern: Bisch{\"{o}}fliches Hilfswerk MISEREOR eV {\&} Fastenopfer},
title = {{Human rights impact assessment of the Tampakan copper-gold project}},
year = {2013}
}
@article{acemoglu2016,
author = {Acemoglu, Daron and Johnson, Simon and Kermani, Amir and Kwak, James and Mitton, Todd},
journal = {Journal of Financial Economics},
number = {2},
pages = {368--391},
publisher = {Elsevier},
title = {{The value of connections in turbulent times: Evidence from the United States}},
volume = {121},
year = {2016}
}
@article{Johnston2012,
abstract = {Is killing or capturing insurgent leaders an effective tactic? Previous research on interstate war and counterterrorism has suggested that targeting enemy leaders does not work. Most studies of the efficacy of leadership decapitation, however, have relied on unsystematic evidence and poor research design. An analysis based on fresh evidence and a new research design indicates the opposite relationship and yields four key findings. First, campaigns are more likely to end quickly when counterinsurgents successfully target enemy leaders. Second, counterinsurgents who capture or kill insurgent leaders are significantly more likely to defeat insurgencies than those who fail to capture or kill such leaders. Third, the intensity of a conflict is likelier to decrease following the successful removal of an enemy leader than it is after a failed attempt. Fourth, insurgent attacks are more likely to decrease after successful leadership decapitations than after failed attempts. Additional analysis suggests that these findings are attributable to successful leadership decapitation, and that the relationship between decapitation and campaign success holds across different types of insurgencies.},
author = {Johnston, Patrick B},
doi = {10.1162/ISEC_a_00076},
issn = {0162-2889},
journal = {International Security},
month = {apr},
number = {4},
pages = {47--79},
title = {{Does Decapitation Work? Assessing the Effectiveness of Leadership Targeting in Counterinsurgency Campaigns}},
url = {https://doi.org/10.1162/ISEC_a_00076},
volume = {36},
year = {2012}
}
@article{Price2012,
author = {Price, Bryan C},
issn = {0162-2889},
journal = {International Security},
number = {4},
pages = {9--46},
publisher = {MIT Press One Rogers Street, Cambridge, MA 02142-1209, USA journals-info {\ldots}},
title = {{Targeting top terrorists: How leadership decapitation contributes to counterterrorism}},
volume = {36},
year = {2012}
}

@Article{kaufmann_2010,
  author  = {Kaufmann, Daniel and Kraay, Aart and Mastruzzi, Massimo},
  journal = {World Bank Policy Research Working Paper No. 5430},
  title   = {{The worldwide fovernance indicators: Methodology and analytical issues}},
  year    = {2010},
}

@Article{berman2016,
  author  = {Berman, Nicolas and Couttenier, Mathieu and Rohner, Dominic and Thoenig, Mathias},
  journal = {American Economic Review},
  title   = {{This mine is mine! How minerals fuel conflicts in Africa}},
  year    = {2017},
  month   = jun,
  number  = {6},
  pages   = {1564--1610},
  volume  = {107},
}
@article{capelle2019,
author = {Capelle-Blancard, Gunther and Petit, Aur{\'{e}}lien},
journal = {Journal of Business Ethics},
number = {2},
pages = {543--565},
title = {{Every little helps? ESG news and stock market reaction}},
volume = {157},
year = {2019}
}

@Article{hegre_2001,
  author    = {Hegre, H{\aa}vard and Ellingsen, Tanja and Gates, Scott and Gleditsch, Nils Petter},
  journal   = {American Political Science Review},
  title     = {{Toward a democratic civil peace? Democracy, political change, and civil War, 1816-1992}},
  year      = {2001},
  number    = {1},
  pages     = {33--48},
  volume    = {95},
  publisher = {[American Political Science Association, Cambridge University Press]},
}
@article{ferrara2007,
author = {Guidolin, Massimo and {La Ferrara}, Eliana},
journal = {American Economic Review},
number = {5},
pages = {1978--1993},
title = {{Diamonds are forever, wars are not: Is conflict bad for private firms?}},
volume = {97},
year = {2007}
}
@article{miller2006press,
author = {Miller, Gregory S},
journal = {Journal of Accounting Research},
number = {5},
pages = {1001--1033},
publisher = {Wiley Online Library},
title = {{The press as a watchdog for accounting fraud}},
volume = {44},
year = {2006}
}
@article{dyck2010blows,
author = {Dyck, Alexander and Morse, Adair and Zingales, Luigi},
journal = {Journal of Finance},
number = {6},
pages = {2213--2253},
publisher = {Wiley Online Library},
title = {{Who blows the whistle on corporate fraud?}},
volume = {65},
year = {2010}
}
@article{mackinlay1997event,
author = {MacKinlay, A Craig},
journal = {Journal of Economic Literature},
number = {1},
pages = {13--39},
publisher = {JSTOR},
title = {{Event studies in economics and finance}},
volume = {35},
year = {1997}
}
@article{patell1976,
author = {Patell, James M},
journal = {Journal of Accounting Research},
pages = {246--276},
publisher = {JSTOR},
title = {{Corporate forecasts of earnings per share and stock price behavior: Empirical test}},
year = {1976}
}

@InProceedings{dasgupta2007feature,
  author       = {Dasgupta, Anirban and Drineas, Petros and Harb, Boulos and Josifovski, Vanja and Mahoney, Michael W},
  booktitle    = {Proceedings of the 13\textsuperscript{th} ACM SIGKDD international conference on Knowledge discovery and data mining},
  title        = {{Feature selection methods for text classification}},
  year         = {2007},
  organization = {ACM},
  pages        = {230--239},
}
@article{brysk1993,
author = {Brysk, Alison},
journal = {Comparative Political Studies},
number = {3},
pages = {259--285},
publisher = {SAGE Periodicals Press},
title = {{From above and below: Social movements, the international system, and human rights in Argentina}},
volume = {26},
year = {1993}
}

@Article{mccahery2016,
  author   = {Mccahery, Joseph A and Sautner, Zacharias and Starks, Laura T},
  journal  = {Journal of Finance},
  title    = {{Behind the scenes: The corporate governance preferences of institutional investors}},
  year     = {2016},
  number   = {6},
  pages    = {2905--2932},
  volume   = {71},
  keywords = {Silanes ; Institutional Investments ; Endowments ;},
}

@Article{Girardi2020,
  author  = {Girardi, Daniele},
  journal = {American Economic Journal: Applied Economics},
  title   = {{Partisan shocks and financial markets: Evidence from close national elections}},
  year    = {2020},
  month   = oct,
  number  = {4},
  pages   = {224--252},
  volume  = {12},
}

@Article{meulbroek_1992,
  author    = {Meulbroek, Lisa K},
  journal   = {Journal of Finance},
  title     = {{An empirical analysis of illegal insider trading}},
  year      = {1992},
  number    = {5},
  pages     = {1661--1699},
  volume    = {47},
  publisher = {[American Finance Association, Wiley]},
}
@book{campbell1997,
author = {{Campbell John Y}, Andrew W Lo and MacKinlay, Archie Craig},
publisher = {princeton University press},
title = {{The econometrics of financial markets}},
year = {1997}
}

@Article{larreguy2020,
  author  = {Larreguy, Horacio and Marshall, John and {Snyder James M}, Jr},
  journal = {Economic Journal},
  title   = {{Publicizing malfeasance: When the local media structure facilitates electoral accountability in Mexico}},
  year    = {2020},
  annote  = {ueaa046},
}
@article{corrado1989,
author = {Corrado, Charles J},
journal = {Journal of Financial Economics},
number = {2},
pages = {385--395},
publisher = {Elsevier},
title = {{A nonparametric test for abnormal security-price performance in event studies}},
volume = {23},
year = {1989}
}
@article{imai2017canada,
author = {Imai, Shin and Gardner, Leah and Weinberger, Sarah},
journal = {Osgoode Legal Studies Research Paper},
number = {17},
title = {{The 'Canada Brand': Violence and Canadian mining companies in Latin America}},
year = {2017}
}

@Article{chen2020,
  author    = {Chen, Tao and Dong, Hui and Lin, Chen},
  journal   = {Journal of Financial Economics},
  title     = {{Institutional shareholders and corporate social responsibility}},
  year      = {2020},
  number    = {2},
  pages     = {483--504},
  volume    = {135},
  keywords  = {Institutional Ownership ; Indexing ; Shareholder A},
  publisher = {Elsevier B.V},
}
@article{boehmer1991event,
author = {Boehmer, Ekkehart and Masumeci, Jim and Poulsen, Annette B},
journal = {Journal of Financial Economics},
number = {2},
pages = {253--272},
publisher = {Elsevier},
title = {{Event-study methodology under conditions of event-induced variance}},
volume = {30},
year = {1991}
}

@Article{huang2020,
  author  = {Huang, Alan Guoming and Tan, Hongping and Wermers, Russ},
  journal = {Review of Financial Studies},
  title   = {{Institutional trading around corporate news: Evidence from textual analysis}},
  year    = {2020},
  number  = {10},
  pages   = {4627--4675},
  volume  = {33},
}
@article{ferraz2008,
author = {Ferraz, Claudio and Finan, Frederico},
journal = {Quarterly Journal of Economics},
number = {2},
pages = {703--745},
publisher = {MIT Press},
title = {{Exposing corrupt politicians: the effects of Brazil's publicly released audits on electoral outcomes}},
volume = {123},
year = {2008}
}

@Article{peress2014,
  author   = {Peress, Joel},
  journal  = {Journal of Finance},
  title    = {{The media and the diffusion of information in financial markets: Evidence from newspaper strikes}},
  year     = {2014},
  number   = {5},
  pages    = {2007--2043},
  volume   = {69},
  keywords = {Financial Services ; Newspaper Publishing ; Financ},
}

@Article{spirling_2012,
  author    = {Spirling, Arthur},
  journal   = {American Journal of Political Science},
  title     = {{U.S. Treaty making with American Indians: Institutional change and relative power, 1784--1911}},
  year      = {2012},
  number    = {1},
  pages     = {84--97},
  volume    = {56},
  publisher = {[Midwest Political Science Association, Wiley]},
}


@article{huber2020,
author = {Huber, Kilian and Lindenthal, Volker and Waldinger, Fabian},
title = {Discrimination, managers, and firm performance: Evidence from “Aryanizations” in Nazi Germany},
journal = {Journal of Political Economy},
volume = {129},
number = {9},
pages = {2455-2503},
year = {2021},
doi = {10.1086/714994}
}

@Article{acemoglu2017,
  author  = {Acemoglu, Daron and Hassan, Tarek A and Tahoun, Ahmed},
  journal = {Review of Financial Studies},
  title   = {{The power of the street: Evidence from Egypt's Arab Spring}},
  year    = {2017},
  number  = {1},
  pages   = {1--42},
  volume  = {31},
}
@book{maxplanck2016,
author = {Spohr, Maximilian},
publisher = {MPFPR, Bundesanstalt f{\"{u}}r Geowissenschaften und Rohstoffe (BGR)},
title = {{Human rights risks in mining: A baseline study}},
year = {2016}
}
@article{dellavigna2014,
author = {DellaVigna, Stefano and Enikolopov, Ruben and Mironova, Vera and Petrova, Maria and Zhuravskaya, Ekaterina},
journal = {American Economic Journal: Applied Economics},
number = {3},
pages = {103--132},
title = {{Cross-border media and nationalism: Evidence from Serbian radio in Croatia}},
volume = {6},
year = {2014}
}
@book{doyle2014indigenous,
author = {Doyle, Cathal and Whitmore, Andrew},
publisher = {Baguio: Tebtebba, PIPLinks and Middlesex University},
title = {{Indigenous peoples and the extractive sector: Towards a rights respecting engagement}},
year = {2014}
}

@Article{collier_hoeffler,
  author  = {Collier, Paul and Hoeffler, Anke},
  journal = {Oxford Economic Papers},
  title   = {{Greed and grievance in civil war}},
  year    = {2004},
  number  = {4},
  pages   = {563--595},
  volume  = {56},
}

@Article{hendershott2015,
  author    = {Hendershott, Terrence and Livdan, Dmitry and Sch{\"{u}}rhoff, Norman},
  journal   = {Journal of Financial Economics},
  title     = {{Are institutions informed about news?}},
  year      = {2015},
  number    = {2},
  pages     = {249--287},
  volume    = {117},
  keywords  = {Institutions ; Trading ; Stock Returns ; News Sent},
  publisher = {Elsevier B.V},
}

@Article{ferreira2008,
  author    = {Ferreira, Miguel A and Matos, Pedro},
  journal   = {Journal of Financial Economics},
  title     = {{The colors of investors' money: The role of institutional investors around the world}},
  year      = {2008},
  number    = {3},
  pages     = {499--533},
  volume    = {88},
  keywords  = {Institutional Investors ; Firm Value ; Internation},
  publisher = {Elsevier B.V},
}

@Article{salinger1992,
  author    = {Salinger, Michael},
  journal   = {Journal of Financial and Quantitative Analysis},
  title     = {{Standard errors in event studies}},
  year      = {1992},
  number    = {1},
  pages     = {39--53},
  volume    = {27},
  publisher = {[Cambridge University Press, University of Washington School of Business Administration]},
}

@Article{Qin2017,
  author  = {Qin, Bei and Str{\"{o}}mberg, David and Wu, Yanhui},
  journal = {Journal of Economic Perspectives},
  title   = {{Why does China allow freer social media? Protests versus surveillance and propaganda}},
  year    = {2017},
  number  = {1},
  pages   = {117--140},
  volume  = {31},
}

@article{Au2024,
author = {Au, Shiu-Yik and Dong, Ming and Tremblay, Andréanne},
issn = {0167-4544},
journal = {Journal of Business Ethics},
language = {eng},
number = {4},
pages = {861-883},
publisher = {Springer Netherlands},
title = {How much does workplace sexual harassment hurt firm value?},
volume = {190},
year = {2024},
}

@article{liu2013role,
author = {Liu, Baixiao and McConnell, John J},
journal = {Journal of Financial Economics},
number = {1},
pages = {1--17},
publisher = {Elsevier},
title = {{The role of the media in corporate governance: Do the media influence managers' capital allocation decisions?}},
volume = {110},
year = {2013}
}

@Article{Hart2017,
  author  = {Hart, Oliver and Zingales, Luigi},
  journal = {Journal of Law, Finance, and Accounting},
  title   = {{Companies should maximize shareholder welfare not market value}},
  year    = {2017},
  number  = {2},
  pages   = {247--275},
  volume  = {2},
}

@Article{Palomino2009,
  author   = {Palomino, Frederic and Renneboog, Luc and Zhang, Chendi},
  journal  = {Journal of Corporate Finance},
  title    = {{Information salience, investor sentiment, and stock returns: The case of British soccer betting}},
  year     = {2009},
  number   = {3},
  pages    = {368--387},
  volume   = {15},
  keywords = {Football,Investor mood,Market efficiency,Media attention,Sports betting},
}
@inproceedings{Windsor2019,
author = {Windsor, Duane},
booktitle = {Proceedings of the International Association for Business and Society},
pages = {12--25},
title = {{Accountable capitalism, responsible capitalism, and political capitalism: The Warren proposal for an Accountable Capitalism Act}},
volume = {30},
year = {2019}
}

@Article{Barber2021,
  author   = {Barber, Brad M and Morse, Adair and Yasuda, Ayako},
  journal  = {Journal of Financial Economics},
  title    = {{Impact investing}},
  year     = {2021},
  number   = {1},
  pages    = {162--185},
  volume   = {139},
  keywords = {Impact investing,Private equity,Public pension funds,Random utility discrete choice models,Socially responsible investment,Sustainable investing,United nations principles of responsible investmen,Venture capital,Willingness to pay},
}

@Article{Child2021,
  author   = {Child, Travers Barclay and Massoud, Nadia and Schabus, Mario and Zhou, Yifan},
  journal  = {Journal of Financial Economics},
  title    = {{Surprise election for Trump connections}},
  year     = {2021},
  number   = {2},
  pages    = {676--697},
  volume   = {140},
  keywords = {Donald Trump,Event study,Firm performance,Political connections},
}

@Article{Giuliani2018,
  author   = {Giuliani, Elisa},
  journal  = {Research Policy},
  title    = {{Regulating global capitalism amid rampant corporate wrongdoing---Reply to {\textquotedblleft}Three frames for innovation policy{\textquotedblright}}},
  year     = {2018},
  number   = {9},
  pages    = {1577--1582},
  volume   = {47},
  keywords = {Corporate wrongdoing,Global capitalism,Grand challenges,Responsible innovation,Sustainable pathways},
}

@Article{Zeume2017,
  author  = {Zeume, Stefan},
  journal = {Review of Financial Studies},
  title   = {{Bribes and firm value}},
  year    = {2017},
  month   = may,
  number  = {5},
  pages   = {1457--1489},
  volume  = {30},
}

@Article{Dhole2020,
  author        = {Dhole, Sandip and Liu, Li and Lobo, Gerald J and Mishra, Sagarika},
  journal       = {Journal of Accounting and Public Policy},
  title         = {{Economic policy uncertainty and financial statement comparability}},
  year          = {2020},
  pages         = {106800},
  keywords      = {Accounting estimates,Accounting policy choice,Economic policy uncertainty,Financial statement comparability,event study,finance,forensic},
  mendeley-tags = {event study,finance,forensic},
}

@Article{Preuss2020,
  author        = {Preuss, Susanne and K{\"{o}}nigsgruber, Roland},
  journal       = {Journal of Accounting and Public Policy},
  title         = {{How do corporate political connections influence financial reporting? A synthesis of the literature}},
  year          = {2020},
  pages         = {106802},
  keywords      = {Corporate political connections,Financial reporting,Literature review,event study,finance,forensic},
  mendeley-tags = {event study,finance,forensic},
}

@Article{Child2020,
  author        = {Child, Travers Barclay and Massoud, Nadia and Schabus, Mario and Zhou, Yifan},
  journal       = {Journal of Financial Economics},
  title         = {{Surprise election for Trump connections}},
  year          = {2020},
  keywords      = {Donald Trump,Event study,Firm performance,Political connections,event study,finance,forensic},
  mendeley-tags = {event study,finance,forensic},
}

@Article{Chaney2008,
  author   = {Chaney, Eric},
  journal  = {Journal of Comparative Economics},
  title    = {{Assessing pacification policy in Iraq: Evidence from Iraqi financial markets}},
  year     = {2008},
  number   = {1},
  pages    = {1--16},
  volume   = {36},
  keywords = {Bond markets,Event studies,Iraq,National security and war,Sovereign debt},
}

@Article{Zussman2006,
  author  = {Zussman, Asaf and Zussman, Noam},
  journal = {Journal of Economic Perspectives},
  title   = {{Assassinations: Evaluating the effectiveness of an Israeli cunterterrorism policy using stock market data}},
  year    = {2006},
  number  = {2},
  pages   = {193--206},
  volume  = {20},
}

@Article{Dube2011,
  author  = {Dube, Arindrajit and Kaplan, Ethan and Naidu, Suresh},
  journal = {Quarterly Journal of Economics},
  title   = {{Coups, corporations, and classified information}},
  year    = {2011},
  number  = {3},
  volume  = {126},
}

@Article{Liu2017,
  author        = {Liu, Laura Xiaolei and Shu, Haibing and Wei, K C John},
  journal       = {Journal of Financial Economics},
  title         = {{The impacts of political uncertainty on asset prices: Evidence from the Bo scandal in China}},
  year          = {2017},
  number        = {2},
  pages         = {286--310},
  volume        = {125},
  keywords      = {Cash flow news,Discount rate news,Event Study,Political uncertainty,Politically sensitive firms,Stock returns},
  mendeley-tags = {Event Study},
}

@techreport{klymak2020trade,
address = {Dublin, Ireland},
author = {Klymak, Margaryta},
institution = {Trinity College Dublin},
publisher = {Trinity Research in Social Sciences (TRiSS)},
title = {{The trade effects of the information provision about forced and child labor}},
type = {TRiSS Working Paper Series},
url = {http://hdl.handle.net/10419/226795},
year = {2020}
}

@Article{Woolley2000,
  author    = {Woolley, John T},
  journal   = {American Journal of Political Science},
  title     = {{Using media-based data in studies of politics}},
  year      = {2000},
  month     = nov,
  number    = {1},
  pages     = {156--173},
  volume    = {44},
  publisher = {[Midwest Political Science Association, Wiley]},
}

@Article{Fisman2001,
  author    = {Fisman, Raymond},
  journal   = {American Economic Review},
  title     = {{Estimating the value of political connections}},
  year      = {2001},
  number    = {4},
  pages     = {1095--1102},
  volume    = {91},
  publisher = {American Economic Association},
}

@Article{Hendrix2013,
  author    = {Hendrix, CULLEN S and Wong, WENDY H},
  journal   = {British Journal of Political Science},
  title     = {{When is the pen truly mighty? Regime type and the efficacy of naming and shaming in curbing human rights abuses}},
  year      = {2013},
  number    = {3},
  pages     = {651--672},
  volume    = {43},
  publisher = {Cambridge University Press},
}

@Article{MCENTIRE2015,
  author    = {McEntire, Kyla J O and Leiby, Michele and Krain, Matthew},
  journal   = {American Political Science Review},
  title     = {{Human rights organizations as agents of change: An experimental examination of framing and micromobilization}},
  year      = {2015},
  number    = {3},
  pages     = {407--426},
  volume    = {109},
  edition   = {2015/07/06},
  publisher = {Cambridge University Press},
}

@Article{HafnerBurton2009,
  author    = {Hafner-Burton, Emilie M and Ron, James},
  journal   = {World Politics},
  title     = {{Seeing double: Human rights impact through qualitative and quantitative eyes}},
  year      = {2009},
  month     = nov,
  number    = {2},
  pages     = {360--401},
  volume    = {61},
  publisher = {[Cambridge University Press, Trustees of Princeton University]},
}

@Article{HafnerBurton2008,
  author  = {Hafner-Burton, Emilie M.},
  journal = {International Organization},
  title   = {{Sticks and stones: Naming and shaming the human rights enforcement problem}},
  year    = {2008},
  month   = oct,
  number  = {4},
  pages   = {689--716},
  volume  = {62},
}

@Article{King2007,
  author    = {King, Brayden G and Soule, Sarah A},
  journal   = {Administrative Science Quarterly},
  title     = {{Social movements as extra-institutional entrepreneurs: The effect of protests on stock price returns}},
  year      = {2007},
  month     = sep,
  number    = {3},
  pages     = {413--442},
  volume    = {52},
  annote    = {doi: 10.2189/asqu.52.3.413},
  publisher = {SAGE Publications Inc},
}

@InCollection{Roberts2020,
  author    = {Roberts, Jordan and Tellez, Juan},
  booktitle = {The Power of Global Performance Indicators},
  publisher = {Cambridge University Press},
  title     = {{Freedom House's  scarlet letter: Assessment power through transnational pressure}},
  year      = {2020},
  address   = {Cambridge},
  editor    = {Simmons, Beth A and Kelley, Judith G},
  pages     = {242--268},
  keywords  = {Freedom House,assessment power,verbal conflict},
}

@Article{Chatjuthamard2020,
  author        = {Chatjuthamard, P and Jiraporn, P and Sarajoti, P and Singh, M},
  journal       = {Managerial Finance},
  title         = {{The effect of political risk on shareholder value and the mitigating role of corporate social responsibility (CSR)}},
  year          = {2020},
  annote        = {Export Date: 13 November 2020},
  keywords      = {Event Study},
  mendeley-tags = {Event Study},
}

@Article{Cohen2013,
  author        = {Cohen, Lauren and Diether, Karl and Malloy, Christopher},
  journal       = {Journal of Financial Economics},
  title         = {{Legislating stock prices}},
  year          = {2013},
  number        = {3},
  pages         = {574--595},
  volume        = {110},
  keywords      = {Event study, legislator incentives, lobbying, return predictability,Voting},
  mendeley-tags = {Event Study},
}

@Article{Keck1999,
  author    = {Keck, Margaret E and Sikkink, Kathryn},
  journal   = {International Social Science Journal},
  title     = {{Transnational advocacy networks in international and regional politics}},
  year      = {1999},
  month     = mar,
  number    = {159},
  pages     = {89--101},
  volume    = {51},
  annote    = {https://doi.org/10.1111/1468-2451.00179},
  publisher = {John Wiley {\&} Sons, Ltd},
}

@Article{DeMeritt2012,
  author    = {DeMeritt, Jacqueline H R},
  journal   = {International Interactions},
  title     = {{International organizations and government killing: Does naming and shaming save lives?}},
  year      = {2012},
  month     = nov,
  number    = {5},
  pages     = {597--621},
  volume    = {38},
  annote    = {doi: 10.1080/03050629.2012.726180},
  publisher = {Routledge},
}

@Article{Wang2020,
  author   = {Wang, Albert Y and Young, Michael},
  journal  = {Journal of Financial Economics},
  title    = {{Terrorist attacks and investor risk preference: Evidence from mutual fund flows}},
  year     = {2020},
  number   = {2},
  pages    = {491--514},
  volume   = {137},
  keywords = {Mutual fund flows,Risk aversion,Risk preference,Terrorism,Visceral emotions},
}

@Article{DiBlasi2020,
  author  = {DiBlasi, Lora},
  journal = {International Studies Quarterly},
  title   = {{From shame to new name: How naming and shaming creates pro-government militias}},
  year    = {2020},
  month   = aug,
}

@Article{King2007a,
  author  = {King, Brayden G. and Soule, Sarah A.},
  journal = {Administrative Science Quarterly},
  title   = {{Social movements as extra-institutional entrepreneurs: The effect of protests on stock price returns}},
  year    = {2007},
  number  = {3},
  volume  = {52},
}

@Book{Keck1998,
  author   = {Keck, Margaret E. and Sikkink, Kathryn},
  title    = {{Activists beyond borders : advocacy networks in international politics}},
  year     = {1998},
  address  = {Ithaca, New York},
  series   = {Ebook central},
  keywords = {Environmental protection -- Societies, etc,Human rights -- Societies, etc,Pressure groups,Women's rights -- Societies, etc,World politics},
  language = {eng},
}

@Book{Khagram2002,
  author    = {Khagram, Sanjeev and Riker, James V and Sikkink, Kathryn},
  publisher = {University of Minnesota Press},
  title     = {{Restructuring world politics : transnational social movements, networks and norms}},
  year      = {2002},
  address   = {Minneapolis},
  series    = {Social movements, protest, and contention},
  keywords  = {International organization,Social movements,World politics},
  language  = {eng},
}

@Article{Hafner-Burton2008,
  author  = {Hafner-Burton, Emilie M.},
  journal = {International Organization},
  title   = {{Sticks and stones: Naming and shaming the human rights enforcement problem}},
  year    = {2008},
  month   = oct,
  number  = {4},
  pages   = {689--716},
  volume  = {62},
}

@Article{Ramos2007,
  author  = {Ramos, Howard and Ron, James and Thoms, Oskar N.T.},
  journal = {Journal of Peace Research},
  title   = {{Shaping the northern media's human rights coverage, 1986-2000}},
  year    = {2007},
  number  = {4},
  volume  = {44},
}

@Book{Stroup2012,
  author   = {Stroup, Sarah S.},
  title    = {{Borders among activists : International NGOs in the United States, Britain, and France}},
  year     = {2012},
  address  = {Ithaca, NY},
  keywords = {International Studies,Non-governmental organizations -- France,Non-governmental organizations -- Great Britain,Non-governmental organizations -- United States,POLITICAL SCIENCE / NGOs (Non-Governmental Organiz,Political Science {\&} Political History},
  language = {eng},
}

@Misc{Ron2005,
  author    = {Ron, James and Ramos, Howard and Rodgers, Kathleen},
  title     = {{Transnational information politics: NGO human rights reporting, 1986-2000}},
  year      = {2005},
  booktitle = {International Studies Quarterly},
  number    = {3},
  volume    = {49},
}

@Article{Meernik2012,
  author  = {Meernik, James and Aloisi, Rosa and Sowell, Marsha and Nichols, Angela},
  journal = {Journal of Conflict Resolution},
  title   = {{The impact of human rights organizations on naming and shaming campaigns}},
  year    = {2012},
  number  = {2},
  volume  = {56},
}

@Article{Milgrom1982,
  author  = {Milgrom, Paul and Roberts, John},
  journal = {Journal of Economic Theory},
  title   = {{Predation, reputation, and entry deterrence}},
  year    = {1982},
  number  = {2},
  pages   = {280--312},
  volume  = {27},
}

@Article{Hathaway2002,
  author    = {Hathaway, Oona A.},
  journal   = {Yale Law Journal},
  title     = {{Do human rights treaties make a difference?}},
  year      = {2002},
  number    = {8},
  pages     = {1935--2033},
  volume    = {111},
  publisher = {Yale Law Journal},
}

@Article{Bagwell2020,
  author    = {Bagwell, Stephen and Hall, Shelby L.},
  journal   = {Journal of Human Rights},
  title     = {{Publicity and perceptions of risk: The effects of HRO naming and shaming on sovereign credit rating}},
  year      = {2020},
  month     = may,
  number    = {3},
  pages     = {379--391},
  volume    = {19},
  publisher = {Routledge},
}

@Article{Eichler2020,
  author   = {Eichler, Stefan and Plaga, Timo},
  journal  = {Journal of Banking {\&} Finance},
  title    = {{The economic record of the government and sovereign bond and stock returns around national elections}},
  year     = {2020},
  pages    = {105832},
  volume   = {118},
  keywords = {Developed countries,Elections,Emerging markets,Event study,Fiscal balance,Political risk,Sovereign bond returns,Stock returns},
}

@Article{Giuliani2014,
  author  = {Giuliani, Elisa and Macchi, Chiara},
  journal = {Cambridge Journal of Economics},
  title   = {{Multinational corporations' economic and human rights impacts on developing countries: A review and research agenda}},
  year    = {2014},
  month   = mar,
  number  = {2},
  pages   = {479--517},
  volume  = {38},
}

@Article{Knight2006,
  author        = {Knight, B},
  journal       = {Journal of Public Economics},
  title         = {{Are policy platforms capitalized into equity prices? Evidence from the Bush/Gore 2000 Presidential Election}},
  year          = {2006},
  number        = {4-5},
  pages         = {751--773},
  volume        = {90},
  annote        = {Cited By :88 Export Date: 11 November 2020},
  keywords      = {Event Study},
  mendeley-tags = {Event Study},
}

@Article{Anbil2018,
  author  = {Anbil, Sriya},
  journal = {Journal of Financial Economics},
  title   = {{Managing stigma during a financial crisis}},
  year    = {2018},
  number  = {1},
  pages   = {166--181},
  volume  = {130},
}

@Article{Wagner2018,
  author   = {Wagner, Alexander F and Zeckhauser, Richard J and Ziegler, Alexandre},
  journal  = {Journal of Financial Economics},
  title    = {{Company stock price reactions to the 2016 election shock: Trump, taxes, and trade}},
  year     = {2018},
  number   = {2},
  pages    = {428--451},
  volume   = {130},
  keywords = {Corporate interest payments,Corporate taxes,Election surprise,Event study,Market efficiency,Post-news drift,Price contribution analysis,Stock returns,Trade policy},
}

@Article{Nielsen2013,
  author  = {Nielsen, Richard A},
  journal = {International Studies Quarterly},
  title   = {{Rewarding human rights? Selective aid sanctions against repressive states}},
  year    = {2013},
  month   = dec,
  number  = {4},
  pages   = {791--803},
  volume  = {57},
}

@TechReport{GlobalJusticeNow2018,
  author  = {{Global Justice Now}},
  title   = {{Ending corporate impunity - The struggle to bring about a binding UN treaty on transnational corporations and human rights}},
  year    = {2018},
  address = {London},
  school  = {Global Justice Now},
}

@Misc{AustraliaNPC2021,
  author  = {Booth, K. and Wilde-Ramsing, J.},
  title   = {{Holding governments accountable for their duty to protect human rights: The Australian National Contact Point and the road to functional equivalence}},
  year    = {2021},
  howpublished = {Nova Centre on Business, Human Rights and the Environment Blog, 12th October 2021},
  url = {https://www.humanrights.unsw.edu.au/research/commentary/holding-governments-accountable-human-rights-ncp}
}

@Misc{TransformTrade2022,
  author  = {Percival, Y. and Chambers, R. and Boughey, L. and Downer K.},
  title   = {{People Centered Trade - Foreign Investment, Human Rights and the Climate in the UK: Asymmetric Legal Protection}},
  howpublished = {Transform Trade, Charity No. 1048752},
  year = {2022},
  url = {https://www.transform-trade.org/pct-report},
}

@Article{Brown2020,
  author        = {Brown, Jeffrey R and Huang, Jiekun},
  journal       = {Journal of Financial Economics},
  title         = {{All the president's friends: Political access and firm value}},
  year          = {2020},
  number        = {2},
  pages         = {415--431},
  volume        = {138},
  keywords      = {Event Study,Firm value,Government contracts,Political access,Regulatory relief},
  mendeley-tags = {Event Study},
}

@Article{Babic2020,
  author    = {Babic, Milan and Garcia-Bernardo, Javier and Heemskerk, Eelke M},
  journal   = {Review of International Political Economy},
  title     = {{The rise of transnational state capital: State-led foreign investment in the 21\textsuperscript{st} century}},
  year      = {2020},
  month     = may,
  number    = {3},
  pages     = {433--475},
  volume    = {27},
  annote    = {doi: 10.1080/09692290.2019.1665084},
  publisher = {Routledge},
}

@Article{Babic2017,
  author    = {Babic, Milan and Fichtner, Jan and Heemskerk, Eelke M},
  journal   = {International Spectator},
  title     = {{States versus corporations: rethinking the power of business in international politics}},
  year      = {2017},
  month     = oct,
  number    = {4},
  pages     = {20--43},
  volume    = {52},
  annote    = {doi: 10.1080/03932729.2017.1389151},
  publisher = {Routledge},
}

@Article{Eberlein2019,
  author    = {Eberlein, Burkard},
  journal   = {Organization Studies},
  title     = {{Who fills the global governance gap? Rethinking the roles of business and government in global governance}},
  year      = {2019},
  month     = may,
  number    = {8},
  pages     = {1125--1145},
  volume    = {40},
  annote    = {doi: 10.1177/0170840619847720},
  publisher = {SAGE Publications Ltd},
}

@Article{Dowd2020,
  author    = {Dowd, Caitriona and Justino, Patricia and Kishi, Roudabeh and Marchais, Gauthier},
  journal   = {Research {\&} Politics},
  title     = {{Comparing {\textquoteleft}New' and {\textquoteleft}Old' Media for violence monitoring and crisis response: Evidence from Kenya}},
  year      = {2020},
  month     = jul,
  number    = {3},
  pages     = {2053168020937592},
  volume    = {7},
  annote    = {doi: 10.1177/2053168020937592},
  publisher = {SAGE Publications Ltd},
}

@Book{Robinson2002,
  author    = {Robinson, Piers},
  publisher = {Taylor {\&} Francis Group},
  title     = {{The CNN effect : The myth of news, foreign policy and intervention}},
  year      = {2002},
  address   = {London, UNITED KINGDOM},
  keywords  = {Mass media and international relations},
}

@Article{Peksen2014,
  author  = {Peksen, Dursun and Peterson, Timothy M and Drury, A Cooper},
  journal = {International Studies Quarterly},
  title   = {{Media-driven humanitarianism? News media coverage of human rights abuses and the use of economic sanctions}},
  year    = {2014},
  month   = dec,
  number  = {4},
  pages   = {855--866},
  volume  = {58},
}

@Article{Bagwell2020a,
  author    = {Bagwell, Stephen and Hall, Shelby L.},
  journal   = {Journal of Human Rights},
  title     = {{Publicity and perceptions of risk: The effects of HRO naming and shaming on sovereign credit rating}},
  year      = {2020},
  month     = may,
  number    = {3},
  pages     = {379--391},
  volume    = {19},
  publisher = {Routledge},
}

@Article{Bennett1990,
  author  = {Bennett, W. Lance},
  journal = {Journal of Communication},
  title   = {{Toward a theory of press-state relations in the United States}},
  year    = {1990},
  number  = {2},
  pages   = {103--127},
  volume  = {40},
}

@Article{Peksen2014a,
  author    = {Peksen, Dursun and Peterson, Timothy M. and Drury, A. Cooper},
  journal   = {International Studies Quarterly},
  title     = {{Media-driven humanitarianism? News media coverage of human rights abuses and the use of economic sanctions}},
  year      = {2014},
  month     = dec,
  number    = {4},
  pages     = {855--866},
  volume    = {58},
  publisher = {Blackwell Publishing Inc.},
}

@Article{Zingales2017,
  author    = {Zingales, Luigi},
  journal   = {Journal of Economic Perspectives},
  title     = {{Towards a political theory of the firm}},
  year      = {2017},
  number    = {3},
  pages     = {113--130},
  volume    = {31},
  publisher = {American Economic Association},
}

@Article{Berry2018,
  author    = {Berry, Kate A and Kalluri, Bhanumathi and {La Vina}, Antonio},
  journal   = {Ecology and Society},
  title     = {{South-to-south exchanges in understanding and addressing natural resource conflicts}},
  year      = {2018},
  month     = nov,
  number    = {3},
  volume    = {23},
  publisher = {Resilience Alliance Inc.},
}

@Article{VanHoorn2016,
  author    = {van Hoorn, A; and Maseland, Robbert},
  journal   = {Journal of International Business Studies},
  title     = {{How institutions matter for international business: Institutional distance effects vs institutional profile effects}},
  year      = {2016},
  month     = nov,
  number    = {3},
  pages     = {374--381},
  volume    = {47},
  publisher = {Palgrave Macmillan Journals},
}

@Article{Butt2019,
  author  = {Butt, N and Lambrick, F and Menton, M and Renwick, A},
  journal = {Nature Sustainability},
  title   = {{The supply chain of violence}},
  year    = {2019},
  number  = {8},
  pages   = {742--747},
  volume  = {2},
}

@Article{Kahn-Lang2019,
  author    = {Kahn-Lang, Ariella and Lang, Kevin},
  journal   = {Journal of Business {\&} Economic Statistics},
  title     = {{The Promise and pitfalls of differences-in-differences: Reflections on 16 and pregnant and other applications}},
  year      = {2019},
  month     = apr,
  pages     = {1--14},
  annote    = {doi: 10.1080/07350015.2018.1546591},
  publisher = {Taylor {\&} Francis},
}

@Article{Barry2013,
  author  = {Barry, Colin M and {Chad Clay}, K and Flynn, Michael E},
  journal = {International Studies Quarterly},
  title   = {{Avoiding the spotlight: Human rights shaming and foreign direct investment}},
  year    = {2013},
  month   = sep,
  number  = {3},
  pages   = {532--544},
  volume  = {57},
}

@Article{Vanderplas2020,
  author   = {Vanderplas, Susan and Cook, Dianne and Hofmann, Heike},
  title    = {{Testing statistical charts: What makes a good graph?}},
  year     = {2020},
  pages    = {61--88},
  volume   = {7},
  keywords = {chart design,graphics,perception,user testing,visual inference,visualization},
}

@Article{Greene1983,
  author    = {Greene, Benjamin B},
  journal   = {American Journal of Economics and Sociology},
  title     = {{A note on relevant comparisons of corporations and countries}},
  year      = {1983},
  month     = nov,
  number    = {1},
  pages     = {39--43},
  volume    = {42},
  publisher = {[American Journal of Economics and Sociology, Inc., Wiley]},
}

@Article{Hale2020,
  author    = {Hale, Thomas},
  journal   = {Annual Review of Political Science},
  title     = {{Transnational actors and transnational governance in global environmental politics}},
  year      = {2020},
  month     = may,
  number    = {1},
  pages     = {203--220},
  volume    = {23},
  annote    = {doi: 10.1146/annurev-polisci-050718-032644},
  publisher = {Annual Reviews},
}

@Article{Dell2018,
  author  = {Dell, Melissa and Lane, Nathan and Querubin, Pablo},
  journal = {Econometrica},
  title   = {{The historical state, local collective action, and economic development in Vietnam}},
  year    = {2018},
  number  = {6},
  pages   = {2083--2121},
  volume  = {86},
}
@article{Armour2017,
abstract = {[We study the impact of the enforcement of financial regulation by the United Kingdom's regulatory authorities on the market price of penalized firms. Existing studies rely on analyses of multiple events that may distort the measurement of reputational losses. In the United Kingdom, the entire enforcement process involves only one public announcement and is accompanied by complete information on legal penalties. We find that reputational losses are nearly nine times the size of fines and are associated with misconduct harming customers or investors but not third parties.]},
author = {Armour, John and Mayer, Colin and Polo, Andrea},
issn = {00221090, 17566916},
journal = {The Journal of Financial and Quantitative Analysis},
month = {nov},
number = {4},
pages = {1429--1448},
publisher = {[Cambridge University Press, University of Washington School of Business Administration]},
title = {{Regulatory sanctions and reputational damage in financial markets}},
url = {https://www.jstor.org/stable/26590448},
volume = {52},
year = {2017}
}
@article{Becker1968,
author = {Becker, Gary S},
issn = {00223808, 1537534X},
journal = {Journal of Political Economy},
month = {nov},
number = {2},
pages = {169--217},
publisher = {University of Chicago Press},
title = {{Crime and punishment: An economic approach}},
url = {http://www.jstor.org/stable/1830482},
volume = {76},
year = {1968}
}
@article{Sampath2018,
abstract = {[Drawing upon rational choice and investor attention theories, we examine how accusations of corporate bribery and subsequent investigations shape market reactions. Using event study methodology to measure loss in firm value for public firms facing bribery investigations from 1978 to 2010, we found that total market penalties amounted to $60.61 billion. We ran moderated multiple regression analysis to examine further the degree to which the unique characteristics of bribery explain variations in market penalties. Companies committing bribery in less corrupt host countries and with the involvement of compromised executives experienced greater market penalties than did other companies. After partitioning share value losses into components for regulatory penalties, class action settlements, and loss to reputation, we found that reputational penalties account for 81.8c̷ of every dollar of share value loss. Omission of reputational penalties in rational choice calculus underestimates bribery costs by 4.5 times. The results suggest that firms should not underestimate the importance of market-imposed reputational penalties by merely considering regulator-imposed fines and sanctions.]},
author = {Sampath, Vijay S and Gardberg, Naomi A and Rahman, Noushi},
issn = {01674544, 15730697},
journal = {Journal of Business Ethics},
month = {nov},
number = {3},
pages = {743--760},
publisher = {Springer},
title = {{Corporate reputation's invisible hand: Bribery, rational choice, and market penalties}},
url = {http://www.jstor.org/stable/45022694},
volume = {151},
year = {2018}
}
@article{Alexander1999,
abstract = {Abstract Recent literature on optimal sanctions for corporations has focused on coordination and refinement of criminal, civil, and market?based sanctions. This paper contributes to emerging evidence on the reputational penalties that public corporations pay for federal crimes. First, it is shown that offenses harming only private parties and not government tend to be addressed through civil or market?based and not criminal sanctions. Second, when criminal allegations do arise, they are often surrounded by reports of terminated or suspended customer relationships and of management or employee turnover. These reports are more frequent if damaged parties are customers, as in fraud, than if they are third parties, as in environmental crime, and if stock prices decline significantly at the first news of crime. All of these features are consistent with characterizations of reputational penalties found in the literature. Findings on the nonatomistic nature of damaged parties suggest directions for future research.},
annote = {doi: 10.1086/467433},
author = {Alexander, Cindy R.},
doi = {10.1086/467433},
issn = {0022-2186},
journal = {The Journal of Law and Economics},
month = {apr},
number = {S1},
pages = {489--526},
publisher = {The University of Chicago Press},
title = {{On the nature of the reputational penalty for corporate crime: Evidence}},
url = {https://doi.org/10.1086/467433},
volume = {42},
year = {1999}
}
@incollection{Jones2001,
abstract = {Many previous event studies have found unexpectedly large losses to firms involved in negative incidents. Many of these studies' authors explain such losses as “goodwill losses” or “reputation effects.” To test this hypothesis, we search for residual losses (in excess of direct costs) to firms involved in events that produce ill will, but do not affect the quality of the firms' final products nor break implicit labor or supply contracts. Our sample of events is 73 negative environmental events reported in the Wall Street Journal between 1970 and 1992 in which electric power companies or oil firms with listed stocks were involved. We find an overall insignificant capital market response. We interpret this as showing that firms are punished only for actions that actually harm customers or suppliers. Although others have found similar outcomes, our results enhance previous research by extending the findings to a broader range of environmental incidents over a longer time period. Further, our findings suggest that the large residual losses in other event studies may be due to reputation mechanisms (and not measurement errors or event study idiosyncrasies), when defined traditionally — only those who are (potentially) harmed incur the costs of punishment.},
author = {Jones, Kari and Rubin, Paul H},
booktitle = {Advances in Financial Economics},
doi = {10.1016/S1569-3732(01)06007-8},
isbn = {978-0-76230-713-5, 978-1-84950-074-6},
month = {jan},
pages = {161--182},
publisher = {Emerald Group Publishing Limited},
series = {Advances in Financial Economics},
title = {{Effects of harmful environmental events on reputations of firms}},
url = {https://doi.org/10.1016/S1569-3732(01)06007-8},
volume = {6},
year = {2001}
}
@Article{DOrazio2014,
  author    = {D'Orazio, Vito and Landis, Steven T and Palmer, Glenn and Schrodt, Philip},
  journal   = {Political Analysis},
  title     = {{Separating the wheat from the chaff: Applications of automated document classification using support vector machines}},
  year      = {2014},
  number    = {2},
  pages     = {224--242},
  volume    = {22},
  edition   = {2017/01/04},
  publisher = {Cambridge University Press},
}
@unpublished{Gantchev2021,
author = {Gantchev, Nickolay and Giannetti, Mariassunta and Li, Rachel},
institution = {CEPR},
series = {CEPR Discussion Paper Series},
title = {{Does money talk? Market discipline through selloffs and boycotts}},
year = {2021}
}
@incollection{Armour2021,
author = {Armour, John and Mayer, Colin and Polo, Andrea},
booktitle = {The Cambridge Handbook of Compliance},
isbn = {1108477127},
pages = {748--760},
publisher = {Cambridge University Press},
title = {{Naming and Shaming: Evidence from Event Studies}},
year = {2021}
}
@Article{Xu2017,
  author    = {Xu, Yiqing},
  journal   = {Political Analysis},
  title     = {{Generalized synthetic control method: Causal inference with interactive fixed effects models}},
  year      = {2017},
  number    = {1},
  pages     = {57--76},
  volume    = {25},
  edition   = {2017/02/21},
  publisher = {Cambridge University Press},
}

@Book{Angrist2008,
  author = {Angrist, JD and Pischke, JS},
  title  = {{Mostly harmless econometrics: An empiricist's companion}},
  year   = {2008},
}

@Article{cengiz2019qje,
  author   = {Cengiz, Doruk and Dube, Arindrajit and Lindner, Attila and Zipperer, Ben},
  journal  = {Quarterly Journal of Economics},
  title    = {The effect of minimum wages on low-wage jobs},
  year     = {2019},
  number   = {3},
  pages    = {1405--1454},
  volume   = {134},
  language = {eng},
}

############Additional Literature on NGO Activity ##########

@article{couttenier16,
author = {Couttenier, Mathieu and Hatte, Sophie},
title = {Mass media effects on non-governmental organizations},
journal = {Journal of Development Economics},
volume = {123},
pages = {57-72},
year = {2016},
issn = {0304-3878},
doi = {https://doi.org/10.1016/j.jdeveco.2016.07.001},
url = {https://www.sciencedirect.com/science/article/pii/S0304387816300463},
}


@article{hatte18,
    author = {Hatte, Sophie and Koenig, Pamina},
    title = {{The geography of NGO activism against multinational corporations}},
    journal = {World Bank Economic Review},
    volume = {34},
    number = {1},
    pages = {143-163},
    year = {2018},
    month = {07},
}

@article{daubanes19,
Author = {Daubanes, Julien and Rochet, Jean-Charles},
Title = {{The eise of NGO activism}},
Journal = {American Economic Journal: Economic Policy},
Volume = {11},
Number = {4},
Year = {2019},
Month = {November},
Pages = {183-212},
DOI = {10.1257/pol.20180027},
URL = {https://www.aeaweb.org/articles?id=10.1257/pol.20180027}}


@article{koenig22a,
title = {{The effects of the Rana Plaza collapse on the sourcing choices of French importers}},
journal = {Journal of International Economics},
volume = {137},
pages = {103576},
year = {2022},
author = {Pamina Koenig and Sandra Poncet},
}

@article{espinosa21,
author = {Espinosa, Romain and Treich, Nicolas},
title = {{Moderate versus radical NGOs}},
journal = {American Journal of Agricultural Economics},
volume = {103},
number = {4},
pages = {1478-1501},
year = {2021}
}

@TechReport{koenig22b,
  author    = {Koenig, Pamina and Krautheim, Sebastian and L\"{o}hnert, Claudius and Verdier, Thierry},
  title     = {{Local global watchdogs: Trade, sourcing and the internationalization of social activism}},
  year      = {2021},
  number    = {DP15878},
  publisher = {CEPR},
  series    = {Discussion Paper},
}

@article{harrison10,
Author = {Harrison, Ann and Scorse, Jason},
Title = {{Multinationals and anti-sweatshop activism}},
Journal = {American Economic Review},
Volume = {100},
Number = {1},
Year = {2010},
Month = {March},
Pages = {247-73},
DOI = {10.1257/aer.100.1.247},
URL = {https://www.aeaweb.org/articles?id=10.1257/aer.100.1.247}
}

@TechReport{Couttenier2022,
  author={Couttenier, Mathieu and Monnet, Nathalie and Piemontese, Lavinia},
  title={{The economic costs of conflict: A production network approach}},
  year=2022,
  month=Jan,
  institution={C.E.P.R. Discussion Papers},
  type={CEPR Discussion Papers},
  url={https://ideas.repec.org/p/cpr/ceprdp/16984.html},
  number={16984}
}



@article{Darendeli2022,
title = {{The role of corporate social responsibility (CSR) information in supply-chain contracting: Evidence from the expansion of CSR rating coverage}},
journal = {Journal of Accounting and Economics},
volume = {74},
number = {2},
pages = {101525},
year = {2022},
issn = {0165-4101},
doi = {https://doi.org/10.1016/j.jacceco.2022.101525},
url = {https://www.sciencedirect.com/science/article/pii/S0165410122000489},
author = {Alper Darendeli and Peter Fiechter and Jörg-Markus Hitz and Nico Lehmann},
}

@article{ww2006,
    author = {Whited, Toni M. and Wu, Guojun},
    title = "{Financial Constraints Risk}",
    journal = {The Review of Financial Studies},
    volume = {19},
    number = {2},
    pages = {531-559},
    year = {2006},
    month = {01}
}

@article{Sun2021,
title = {Estimating dynamic treatment effects in event studies with heterogeneous treatment effects},
journal = {Journal of Econometrics},
volume = {225},
number = {2},
pages = {175-199},
year = {2021},
note = {Themed Issue: Treatment Effect 1},
issn = {0304-4076},
doi = {https://doi.org/10.1016/j.jeconom.2020.09.006},
url = {https://www.sciencedirect.com/science/article/pii/S030440762030378X},
author = {Liyang Sun and Sarah Abraham},
}

@article{Chaisemartin2020,
Author = {de Chaisemartin, Clément and D'Haultfœuille, Xavier},
Title = {Two-Way Fixed Effects Estimators with Heterogeneous Treatment Effects},
Journal = {American Economic Review},
Volume = {110},
Number = {9},
Year = {2020},
Month = {September},
Pages = {2964-96},
DOI = {10.1257/aer.20181169},
URL = {https://www.aeaweb.org/articles?id=10.1257/aer.20181169}
}

@article{GoodmanBacon2021,
title = {Difference-in-differences with variation in treatment timing},
journal = {Journal of Econometrics},
volume = {225},
number = {2},
pages = {254-277},
year = {2021},
note = {Themed Issue: Treatment Effect 1},
issn = {0304-4076},
doi = {https://doi.org/10.1016/j.jeconom.2021.03.014},
url = {https://www.sciencedirect.com/science/article/pii/S0304407621001445},
author = {Andrew Goodman-Bacon},
}

@article{Callaway2021,
title = {Difference-in-Differences with multiple time periods},
journal = {Journal of Econometrics},
volume = {225},
number = {2},
pages = {200-230},
year = {2021},
note = {Themed Issue: Treatment Effect 1},
issn = {0304-4076},
doi = {https://doi.org/10.1016/j.jeconom.2020.12.001},
url = {https://www.sciencedirect.com/science/article/pii/S0304407620303948},
author = {Brantly Callaway and Pedro H.C. Sant’Anna}
}


@article{bordalo2022,
	title = {Salience},
	journal = {Annual Review of Economics, 2022},
	volume = {14},
	year = {2022},
	pages = {521-544},
	author = {Pedro Bordalo and Nicola Gennaioli and Andrei Shleifer}
}

@article {bordalo2012,
	title = {Salience Theory of Choice Under Risk},
	journal = {Quarterly Journal of Economics},
	volume = {127},
	number = {3},
	year = {2012},
	pages = {1243-1285},
	author = {Pedro Bordalo and Nicola Gennaioli and Andrei Shleifer}
}

@Misc{vdem2022,
  title = {{V-Dem Country-Year/Country-Date Dataset v11}},
  author = {Michael Coppedge and John Gerring and Carl Henrik Knutsen and Staffan I. Lindberg and Jan Teorell and Nazifa Alizada and David Altman and Michael Bernhard and Agnes Cornell and M. Steven Fish and Lisa Gastaldi and Haakon Gjerl\o{}w and Adam Glynn and Allen Hicken and Garry Hindle and Nina Ilchenko and Joshua Krusell and Anna L\:uhrmann and Seraphine F. Maerz and Kyle L. Marquardt and Kelly McMann and Valeriya Mechkova and Juraj Medzihorsky and Pamela Paxton and Daniel Pemstein and Joseﬁne Pernes and Johannes {von Römer} and Brigitte Seim and Rachel Sigman and Svend-Erik Skaaning and Jeffrey Staton and Aksel Sundström and Ei-tan Tzelgov and Yi-ting Wang and Tore Wig and Steven Wilson and Daniel Ziblatt.},
  institution = {Varieties of Democracy (V-Dem) Project},
  year = {2022},
  url = {https://www.v-dem.net/en/data/data-version-12/},
}

%%%%%%%% QUADRATIC PROGRAMMING PROBLEM %%%%%%%%%%%%%%%

@article{goldfarb1983,
  title={A numerically stable dual method for solving strictly convex quadratic programs},
  author={Goldfarb, Donald and Idnani, Ashok},
  journal={Mathematical Programming},
  volume={27},
  number={1},
  pages={1--33},
  year={1983},
  publisher={Springer}
}

@book{goldfarb1982,
  title={{Dual and primal-dual methods for solving strictly convex quadratic programs}},
  author={Goldfarb, Donald and Idnani, Ashok},
  year={1982},
  publisher = {{In J. P. Hennart (ed.), Numerical Analysis, Springer-Verlag, Berlin, pages 226-239.}},
}

@article{Higham1988,
title = {Computing a nearest symmetric positive semidefinite matrix},
journal = {{Linear Algebra and its Applications}},
volume = {103},
pages = {103-118},
year = {1988},
issn = {0024-3795},
doi = {https://doi.org/10.1016/0024-3795(88)90223-6},
url = {https://www.sciencedirect.com/science/article/pii/0024379588902236},
author = {Nicholas J. Higham},
}

@article{Aouadi2018,
	author = {Aouadi, Amal and Marsat, Sylvain},
	date = {2018/09/01},
	date-added = {2023-04-04 19:56:23 +0100},
	date-modified = {2023-04-04 19:56:23 +0100},
	doi = {10.1007/s10551-016-3213-8},
	id = {Aouadi2018},
	isbn = {1573-0697},
	journal = {Journal of Business Ethics},
	number = {4},
	pages = {1027--1047},
	title = {Do ESG Controversies Matter for Firm Value? Evidence from International Data},
	url = {https://doi.org/10.1007/s10551-016-3213-8},
	volume = {151},
	year = {2018},
	bdsk-url-1 = {https://doi.org/10.1007/s10551-016-3213-8}}

@article{schanzenbach2020esg,
  number = {10},
  volume = {33},
  pages = {42-50},
  title={ESG investing: Theory, evidence, and fiduciary principles},
  author={Schanzenbach, Max M and Sitkoff, Robert H},
  journal={Journal of financial planning},
  year={2020}
}

@article{serafeim2022,
	author = {George Serafeim and Aaron Yoon},
	doi = {10.1080/0015198X.2021.1973879},
	journal = {Financial Analysts Journal},
	number = {1},
	pages = {59-78},
	publisher = {Routledge},
	title = {Which Corporate ESG News Does the Market React To},
	volume = {78},
	year = {2022}
 }


%Additions by PR for JoF submission


@article{Baker2023,
	author = { Richard Baker and Carola Frydman, and Eric Hilt},
	journal = {Journal of Law and Economics},
	title = {{Discretion and antitrust policy: Evidence from the assassination of president McKinley}},
	volume = {forthcoming},
	year = {2023}
 }


@TechReport{karpoff2017,
  author    = {Karpoff, Jonathan M. and Lee, D. Scott and Martin, Gerald S.},
  title     = {{Foreign bribery: Incentives and enforcement}},
  year      = {2017},
  publisher = {Working Paper},
  series    = {http://dx.doi.org/10.2139/ssrn.1573222},
}

% Stacked DID %%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%

@techreport{StackedDID,
 title = "Stacked Difference-in-Differences",
 author = "Wing, Coady and Freedman, Seth M and Hollingsworth, Alex",
 institution = "National Bureau of Economic Research",
 type = "Working Paper",
 series = "Working Paper Series",
 number = "32054",
 year = "2024",
 month = "January",
 doi = {10.3386/w32054},
 URL = "http://www.nber.org/papers/w32054"
}

@article{Deshpande2019,
Author = {Deshpande, Manasi and Li, Yue},
Title = {Who is screened out? Application costs and the targeting of disability programs},
Journal = {American Economic Journal: Economic Policy},
Volume = {11},
Number = {4},
Year = {2019},
Month = {November},
Pages = {213-48},
DOI = {10.1257/pol.20180076},
URL = {https://www.aeaweb.org/articles?id=10.1257/pol.20180076}
}


@article{Butters2022,
Author = {Butters, R. Andrew and Sacks, Daniel W. and Seo, Boyoung},
Title = {How Do National Firms Respond to Local Cost Shocks?},
Journal = {American Economic Review},
Volume = {112},
Number = {5},
Year = {2022},
Month = {May},
Pages = {1737-72},
DOI = {10.1257/aer.20201524},
URL = {https://www.aeaweb.org/articles?id=10.1257/aer.20201524}}


@incollection{kothari2007,
  title={Econometrics of Event Studies},
  author={Kothari, Sagar P and Warner, Jerold B},
  booktitle={Handbook of Empirical Corporate Finance},
  pages={3--36},
  year={2007},
  publisher={Elsevier}
}

@ARTICLE{Mitchell2000,
	author = {Mitchell, Mark L. and Stafford, Erik},
	title = {Managerial decisions and long-term stock price performance},
	year = {2000},
	journal = {Journal of Business},
	volume = {73},
	number = {3},
	pages = {287 – 329},
	doi = {10.1086/209645},
	type = {Article},
	source = {Scopus},
	note = {Cited by: 882}
}


@article{Dai2021,
title = {Socially responsible corporate customers},
journal = {Journal of Financial Economics},
volume = {142},
number = {2},
pages = {598-626},
year = {2021},
issn = {0304-405X},
doi = {https://doi.org/10.1016/j.jfineco.2020.01.003},
url = {https://www.sciencedirect.com/science/article/pii/S0304405X20300325},
author = {Rui Dai and Hao Liang and Lilian Ng},
keywords = {Corporate social responsibility, Corporate customers, Global supply chains, Economic benefits}
}

@book{CAMEO,
    author = {Schrodt, Philip A and Gerner, Deborah J and Yilmaz, Om{\"u}r},
    title = {Conflict and mediation event observations (CAMEO): An event data framework for a post Cold War world},
    publisher = {Routledge},
    address   = {New York},
    pages={287--304},
    year={2009}
}

#PR: DON'T FORGET TO CITE

@article{Cline2018,
title = {The consequences of managerial indiscretions: Sex, lies, and firm value},
journal = {Journal of Financial Economics},
volume = {127},
number = {2},
pages = {389-415},
year = {2018},
author = {Brandon N. Cline and Ralph A. Walkling and Adam S. Yore},
 
}

%article{Karpoff1993,
%author = {Karpoff, Jonathan M. and Lott,, John R.},
title = {The Reputational Penalty Firms Bear from Committing Criminal Fraud},
journal = {The Journal of Law and Economics},
volume = {36},
number = {2},
pages = {757-802},
year = {1993},
}

@article{Yermack2006,
title = {Flights of fancy: Corporate jets, CEO perquisites, and inferior shareholder returns},
journal = {Journal of Financial Economics},
volume = {80},
number = {1},
pages = {211-242},
year = {2006},
author = {David Yermack},
}


%article{Sampath2018,
% author = {Vijay S. Sampath and Naomi A. Gardberg and Noushi Rahman},
 journal = {Journal of Business Ethics},
 number = {3},
 pages = {743--760},
 publisher = {Springer},
 title = {Corporate Reputation's Invisible Hand: Bribery, Rational Choice, and Market Penalties},
 urldate = {2024-11-25},
 volume = {151},
 year = {2018}
}


@techreport{delforge24,
address = {Brussels, Belgium},
author = {{Delforge, Damien and  Wathelet, Valentin and Below, Regina and Sofia, Cinzia and Tonnelier, Margo, and van Loenhout, Joris and Speybroeck, Nico }},
institution = {Université catholique de Louvain},
title = {{EM-DAT: the Emergency Events Database}},
year = {2024}
}

@Comment{jabref-meta: databaseType:bibtex;}
