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"Marcus, Alan"
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Peer Effects in Corporate Governance Practices
Firms in the same networks tend to have similar corporate governance practices. However, disentangling peer effects, where governance practices propagate from one firm to another, from selection effects, where firms with similar preferences self-select into linked groups, is difficult to do. Studying board-interlocked firms, we utilize the staggered adoption of universal demand laws across states to identify and estimate causal peer effects in governance policies. We find support for the existence of peer effects in the adoption of antitakeover provisions. The impact of universal demand laws on the governance experience of interlocking directors likely explains these effects.
Journal Article
Bank Earnings Management and Tail Risk during the Financial Crisis
We show that a pattern of earnings management in bank financial statements has little bearing on downside risk during quiet periods, but seems to have a big impact during a financial crisis. Banks demonstrating more aggressive earnings management prior to 2007 exhibit substantially higher stock market risk once the financial crisis begins as measured by the incidence of large weekly stock price \"crashes\" as well as by the pattern of full-year returns. Stock price crashes also predict future deterioration in operating performance. Bank regulators may therefore interpret them as early warning signs of impending problems.
Journal Article
Where Is the Geography? The Geographical Predicaments of the Panethnic Terms Hispanic and Latino
In this article I outline the geographical and political problems associated with the terms Hispanic and Latino. To this end, I offer a four-tiered framework to help address these problems. Ultimately, I illustrate how these terms stem from (mis) perceptions deeply ingrained in academic and political imageries of Latin American populations. I discuss how these panethnic terms relate to a geographical predicament, and claim that their myopic perception in the academy feeds itself as much as it feeds U.S. policies. A plea is made here for the demythologization of a continent that is viewed as exclusively Spanish-speaking with an exclusive colonial heritage tied to Spain. My goal is to show how these views have continued to perpetuate powerful, intuitive yet deceptive representations of Latin America. I conclude that it behooves geographers and scholars to re-think, contest, and ultimately revise the interpretation and navigation of the terms Hispanic/Latino as they have been taken for granted.
Neste artigo, esquematizo os problemas geográficos e políticos associados com os termos hispânico/latino Para isso, ofereço uma estrutura de quatro níveis para ajudar a resolver esses problemas. Em última análise, ilustro como as percepções das populações latino-americanas decorrentes desses termos estão profundamente enraizadas nas imagens acadêmicas e políticas. Discuto como esses termos pan-étnicos se relacionam com uma situação geográfica e alegam que a perpetuação míope dentro da academia alimenta-se tanto quanto alimenta as políticas dos EUA. Um apelo é feito aqui para a desmitologização de um continente que é visto exclusivamente como de língua espanhola, com uma herança colonial exclusiva ligada à Espanha, e mostrar como essas percepções sustentam poderosas interpretações intuitivas, ainda que imprecisas, da América Latina. Concluo que cabe aos geógrafos e estudiosos repensar, contestar e, em última instância, revisar a interpretação e navegação dos termos hispânico/latino, como foram tomados como garantidos. Proponho e convido futuras e novas geografias para abordar cuidadosamente essa situação.
Journal Article
