Victims of transnational human rights violations caused by multinational corporations (MNCs) are often confronted with substantial impediments to effective remedies. While justice is de facto unattainable in host state courts, due to weak government or the absence of judicial independence, barriers that prevent victims from litigating in home states are no less insurmountable. Transnational litigation in home states has faced jurisdictional challenges. Defendant corporations have argued that home state courts are not the most appropriate forum to hear a case involving foreign torts.1

Exploiting the random assignment of judges to corporate bankruptcy filings, we estimate financial costs of judicial inexperience. Despite new judges’ prior legal experience, formal education, and rigorous hiring process, their public Chapter 11 cases spend 19% more time in bankruptcy, realize 31% higher legal and professional fees, and 21% lower creditor recovery rates. Examining possible mechanisms, we find that new judges take longer to rule on motions and cases assigned to these judges file more plans of reorganization. Conservative estimates suggest that minor policy adjustments could increase creditor recoveries by approximately $16.8 billion for the public firms in our sample.

This paper provides the first evidence of positive bank-to-bank spillovers. I show that geographic linkages between banks that engage in home lending in the same geographic region transmit positive shocks from one bank to another. I exploit shocks to the deposit base of banks located in counties experiencing shale oil booms and show that a nonshocked bank in a nonboom county expands lending more if its linkages have greater exposure to shale booms. Results show that the shock exposure of linkages has a positive impact on home prices of nonboom counties, and nonshocked banks located therein respond with increased lending.

Previous literature finds anomalies are at least as prevalent in developed markets as in emerging markets; namely, the global anomaly puzzle. We show that while market development and information diffusion are linearly related, information diffusion has a nonlinear impact on anomalies. This is consistent with theoretical developments concerning the process of information diffusion. In extremely low-efficiency regimes, without newswatchers sowing the seeds of price discovery and ensuring the long-run convergence of price to fundamentals, initial mispricing and subsequent correction will not occur. The concentration of emerging countries in low-efficiency regimes provides an explanation to the puzzle.

Prior research documents that asset growth is negatively associated with future firm performance. In contrast, we show that growth financed by product market stakeholders (i.e., “operating growth”) is positively associated with future firm performance. Investors and security analysts underestimate the positive effects of operating growth on future performance, resulting in return predictability and overly pessimistic earnings forecasts for firms with high operating growth. Future stock returns largely concentrate around subsequent earnings announcements with declining magnitudes, consistent with the error-in-expectation explanation. Results from cross-sectional tests further support the hypothesis that operating growth signals high future performance but investors underreact to it.

Although research has shown that business model innovation (BMI) is an effective means to remain competitive in the digital age, many firms do not respond appropriately and often fail to exploit new digital opportunities. In this study, we adopt a microfoundational approach to understand the role and effects of dynamic capabilities (DCs) on BMI in the context of digitalization. Furthermore, we test how this relationship is influenced by contextual factors. Our results from a survey of German manufacturing firms demonstrate the importance of building strong DCs for effective BMI in the context of digitalization. We also highlight the advantages of an entrepreneurial leadership and mindset in this context. The study further suggests that environmental turbulence in the digital context acts as an antecedent to DCs and BMI, rather than moderating their relationship. While strategic factors indirectly affect BMI as antecedents of DCs, we found no evidence of an influence of the organizational structure.

The purpose of this research is to examine configurations of proactive personality and ICT-enabled technostress creators as drivers of job crafting for Gen Z, Gen Y, and Gen X+ workers. Adhering to configurational theorizing, the study was conducted using fuzzy set qualitative comparative analysis (fsQCA). Survey responses collected from 335 full-time workers revealed that the presence of a proactive personality was a necessary condition for job crafting to occur within the context of ICT demands for these generations. Four configurations for Gen Z, five configurations for Gen Y, and four configurations for Gen X+ workers revealed sufficient conditions for job crafting. The present research contemporizes Job Demands-Resources (JD-R) theory by incorporating ICT as a modern-day job demand. In using fsQCA as a novel qualitative methodological tool, this research offers new meaning to the prior regression-based findings regarding proactive personality trait's relationship with job crafting.

This essay explores the development of Sino–U.S. commercial and arbitration practices that grew out of credit transactions and operated in relation to, but distinct from, the greater Canton system that primarily served Beijing and London. Without dismissing the importance of silver and Pacific trade goods to early Sino–U.S. trade, this essay traces the financializing trade practices and emerging regulatory strategies that rose alongside the traffic in specie and commodities. Chinese merchants who traded with foreigners at Canton became increasingly eager for U.S. specie payments as China’s imperial policies as well as Britain- and India-based traders siphoned silver away from Canton. The eagerness for American specie remittances coupled with the relationships cultivated by resident American agents like John Perkins Cushing led Chinese merchants to increasingly trade with Americans on credit. Credit transactions facilitated the expansion of Sino–U.S. trade, the movement of opium, and the entry of Chinese merchants into Atlantic commodity and capital markets. Credit transactions also presented the problem of how to enforce payment and collect bad debts. Whenever the informal personal networks they had forged to secure credit relationships proved insufficient, merchants on both sides of the globe looked to U.S. legal institutions to mediate commercial disputes. Thus, even as the silver U.S. traders supplied in Canton worked to integrate Americans more firmly into Britain’s commercial empire in Asia, credit transactions and formal and informal dispute resolutions arising therefrom carved out separate avenues of direct Sino–U.S. exchange that were of mutual interest.

Crises are socially constructed. Affected stakeholders of an organizational crisis conceive complex associations between their perceptions of the implicated company's response and about the company itself. The study moves away from a simple cause–effect view by deriving alternative configurations of these associations. This approach allows for a better understanding of how stakeholders attribute responsibility for a critical event and the resulting crisis faced by the company that caused it. Using partial least squares structural equation modeling and fuzzy-set qualitative comparative analysis, we analyze insights of 325 families affected by an environmental incident in 2018 involving Colombia's largest company. We establish a correlation between stakeholders' perceptions of crisis response timeliness and credibility. Accordingly, we expand on how perceptions affect organizational judgments. Finally, we propose that trustworthiness and reputation are antecedents to how organizational crisis response is perceived and how these antecedents affect the degree of the severity of the company crisis.

Drawing upon the conservation of resources theory and self-determination theory, this study examines the subjective social status (SSS) of employees and how it moderates the two-way interaction effect of job insecurity and perceived organizational politics on the types of silence (i.e., acquiescent, and defensive silence [DS]). Using data of about 350 employees in South Korea, it was found that the relationship between job insecurity and employees' acquiescent silence (AS) was stronger for individuals who perceived their organizations as highly political. The results also indicated a three-way interaction between job insecurity, perceived organizational politics, and employees' SSS on employees' AS, such that in a highly political work environment, the relationship between job insecurity and employees' AS was stronger especially for employees with low social status. However, the same pattern did not exist between job insecurity and DS.