Unethical Culture, Suspect CEOs and Corporate Misbehavior
---- Acknowledgements -----
We thank Stewart Meyers, Luigi Zingales, Toa Shu, Yung Yu Ma, Matthew Cedergren, D. Scott Lee, and seminar participants at the 2011 NBER Causes and Consequences of Corporate Culture Conference, the University of Tennessee, the University of Georgia, the University of Delaware, the University of Lugano, the 2012 AAA Annual Meeting (Washington, DC), the 2012 FMA Annual Meeting (Atlanta, GA), and the 2012 Mid-Atlantic Research Conference (Villanova) for comments and suggestions. The authors also thank Mia Li Rivolta for sharing her data on forced CEO turnovers. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.