Trust and Contracting: Evidence from Church Sex Scandals

被引：14

作者：

Hilary, Gilles ^{[1
]}

Huang, Sterling ^{[2
]}

机构：

[1] Georgetown Univ, Washington, DC USA

[2] Singapore Management Univ, Singapore, Singapore

来源：

JOURNAL OF BUSINESS ETHICS | 2023年 / 182卷 / 02期

关键词：

Church scandals; Community trust; Firm management; AGENCY COSTS; CASH FLOW; RISK; INCENTIVES; PROPENSITY; REPUTATION; OWNERSHIP; BEHAVIOR; RELIGION; MATTER;

D O I：

10.1007/s10551-021-04996-w

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

Firms located in communities in which people are, on average, more trusting enjoy some benefits in terms of the power of CEO contracts. We present two pieces of empirical evidence to support this claim: (1) higher average trust in a county is associated with "flatter" executive contracts and (2) when an exogenous shock occurs (such as a scandal involving an important social institution), both trust and contracting move in similar directions. We obtain the first result in a panel specification and the second in a "difference-in-difference" specification that uses the revelation of sex scandals involving the Catholic Church across different U.S. localities.

引用

页码：421 / 442

页数：22

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