Working Papers

Working Papers / Works in Progress

Gilles Hilary, Edward Sul, Xiaoli Tian, and Miaomiao Yu. "Political Homogeneity at Work: Effects on Employees, Organizational Behavior, and Firm Performance." 

• Revising for Resubmission at Management Science 

• Partisan homogeneity among employees in the workplace have important implications for employees and firms. 

• Keywords: Labor, Workplace Diversity, Partisan Gap, Organizational Behavior

Edward Sul, Sean Wang, and Vivi Zhu. "Fear Cautions, Anger Commands: Information in Managerial Vocal Emotion." 

• Under Review at Contemporary Accounting Research

• Managerial vocal emotion is informative - fear signals caution and latent downside risk, while anger signals confidence and conviction. 

• Keywords: Vocal Emotion, Machine Learning, Behavioral Biases, Disclosure, Conference Calls, Soft Information

Ashiq Ali, Jongha Kim, Jedson Pinto, and Edward Sul. "When Shorts Go Public: Mandatory Short Position Disclosure and Management Guidance." 

• Firms respond to mandatory public disclosure of large short positions by improving voluntary disclosure as a defensive mechanism.

• Keywords: EU236 Rule, Regulation, International Accounting, Voluntary Disclosure, Corporate Governance, Information Production, Short Selling

Hyun Jung Rim and Edward Sul. "Instituional Blockholder Exit Threats and Corporate Social (Ir)responsibility." 

• Large institutional blockholders discourage both socially irresponsible and responsible behavior that may not benefit shareholders.

• Keywords: Corporate Governance, Exit Threats, CSR/CSI, ESG

Older Working Papers

Edward Sul. "Effects of FinTech and Crowdsourced Forecasting on Firms: Evidence from Estimize." 

• Coverage from a crowdsourced financial estimates platform leads affects firms in various ways, including increased firm value. 

• Keywords: FinTech, Estimize, Crowdsourced Forecasts, Information Production, Information Intermediaries

Hyun Jung Rim and Edward Sul. "Director Independence and Corporate Investment Efficiency: Evidence from Board Reforms Worldwide." 

• Director independence regulations improve the efficiency of how firms invest, especially in cutting back on overinvestment.

• Keywords: Corporate Governance, Regulation, International Accounting, Board Independence, Investment Efficiency