Author Archives: Juan Manuel Garcia Lara

Accounting Conservatism and the Agency Problems of Overvalued Equity 

By | December 21, 2022

In capital markets, the stock market value of a company can sometimes exceed its underlying (fundamental) value. Such overvaluation can materialize over months or even years. Sustained overvaluation is viewed in academic research as a threat to the functioning of capital markets, being at the root of several value-destroying episodes that made the financial system… Read More »

Does Socially Enforced Corporate Social Responsibility Lead to Substantive Action?

By | September 24, 2021

Pressures to mandate corporate social responsibility (CSR) actions grow every day, with stakeholders increasingly demanding that firms act in a responsible manner. However, little is known about how firms may react to such external demands for CSR, and which practices may arise as a result. In our recent paper, we examine these issues, looking at a set of technological… Read More »