Department of Finance
Cox School of Business
Southern Methodist University
PO Box 750333, Dallas, TX 75275-0333
NBER Working Papers and Publications
|July 2014||The Geography of Financial Misconduct|
with Christopher A. Parsons, Sheridan Titman: w20347
We find that a firm's tendency to engage in financial misconduct increases with the misconduct rates of neighboring firms. This appears to be caused by peer effects, rather than exogenous shocks like regional variation in enforcement. Effects are stronger among firms of comparable size, and among CEOs of similar age. Moreover, local waves of financial misconduct correspond with local waves of non-financial corruption, such as political fraud.
|November 2007||Strike Three: Umpires' Demand for Discrimination|
with Christopher A. Parsons, Michael C. Yates, Daniel S. Hamermesh: w13665
We explore umpires' racial/ethnic preferences in the evaluation of Major League Baseball pitchers. Controlling for umpire, pitcher, batter and catcher fixed effects and many other factors, strikes are more likely to be called if the umpire and pitcher match race/ethnicity. This effect only exists where there is little scrutiny of umpires' behavior -- in ballparks without computerized systems monitoring umpires' calls, at poorly attended games, and when the called pitch cannot determine the outcome of the at-bat. If a pitcher shares the home-plate umpire's race/ethnicity, he gives up fewer runs per game and improves his team's chance of winning. The results suggest that standard measures of salary discrimination that adjust for measured productivity may generally be flawed. We derive th...
Published: Parsons, Christopher A., Johan Sulaeman, Michael C. Yates, and Daniel S. Hamermesh. 2011. "Strike Three: Discrimination, Incentives, and Evaluation" American Economic Review, 101(4): 1410-35.