basically all ruzsian in academia
Biggest a-holes in Finance academia 2022 edition
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CL’s 2020 JFE paper, Institutional shareholders and corporate social responsibility (https://www.sciencedirect.com/science/article/pii/S0304405X19301643 ), show that “an exogenous increase in institutional holding caused by Russell Index reconstitutions improves portfolio firms’ CSR performance”.
However, two CFR forthcoming papers (https://cfr.pub/forthcoming/ ) fail to replicate the results. Both Appel, Gormley, and Keim (2020) and Glossner (2020) show that Russell Index reconstitutions have only effect on passive institutional ownership, but no effect on total institutional ownership.
In addition, Appel, Gormley, and Keim (2020) argue that Chen, Dong and Lin (2020) “claim, however, that their results are also robust to using the approach of AGK (2016), but it is unclear how that could be possible when AGK (2016) estimation fails to detect an affect on institutional ownership (which is what Chen, Dong, and Lin (2020) claim is driving their findings).”
Glossner (2020), shows that “I also find that passive investors have no significant effect on corporate social responsibility (CSR).”
Appel, I. R., T. A. Gormley, and D. B. Keim. 2020. Identification using Russell 1000/2000 index assignments: A discussion of methodologies. Critical Finance Review
Chen, Tao, Hui Dong, and Chen Lin. 2020. Institutional shareholders and coprorate social responsibility. Journal of Financial Economics 135:483–504.
Simon Glossner, 2020,Russell Index Reconstitutions, Institutional Investors, and Corporate Social
Responsibility, Critical Finance Review -
CL’s 2020 JFE paper, Institutional shareholders and corporate social responsibility (https://www.sciencedirect.com/science/article/pii/S0304405X19301643 ), show that “an exogenous increase in institutional holding caused by Russell Index reconstitutions improves portfolio firms’ CSR performance”.
However, two CFR forthcoming papers (https://cfr.pub/forthcoming/ ) fail to replicate the results. Both Appel, Gormley, and Keim (2020) and Glossner (2020) show that Russell Index reconstitutions have only effect on passive institutional ownership, but no effect on total institutional ownership.
In addition, Appel, Gormley, and Keim (2020) argue that Chen, Dong and Lin (2020) “claim, however, that their results are also robust to using the approach of AGK (2016), but it is unclear how that could be possible when AGK (2016) estimation fails to detect an affect on institutional ownership (which is what Chen, Dong, and Lin (2020) claim is driving their findings).”
Glossner (2020), shows that “I also find that passive investors have no significant effect on corporate social responsibility (CSR).”
Appel, I. R., T. A. Gormley, and D. B. Keim. 2020. Identification using Russell 1000/2000 index assignments: A discussion of methodologies. Critical Finance Review
Chen, Tao, Hui Dong, and Chen Lin. 2020. Institutional shareholders and coprorate social responsibility. Journal of Financial Economics 135:483–504.
Simon Glossner, 2020,Russell Index Reconstitutions, Institutional Investors, and Corporate Social
Responsibility, Critical Finance ReviewThat's a Bill Schwert edited paper. He chose a referee that he knew had a low hurdle.
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Bill Schwert confirmed a h
CL’s 2020 JFE paper, Institutional shareholders and corporate social responsibility (https://www.sciencedirect.com/science/article/pii/S0304405X19301643 ), show that “an exogenous increase in institutional holding caused by Russell Index reconstitutions improves portfolio firms’ CSR performance”.
However, two CFR forthcoming papers (https://cfr.pub/forthcoming/ ) fail to replicate the results. Both Appel, Gormley, and Keim (2020) and Glossner (2020) show that Russell Index reconstitutions have only effect on passive institutional ownership, but no effect on total institutional ownership.
In addition, Appel, Gormley, and Keim (2020) argue that Chen, Dong and Lin (2020) “claim, however, that their results are also robust to using the approach of AGK (2016), but it is unclear how that could be possible when AGK (2016) estimation fails to detect an affect on institutional ownership (which is what Chen, Dong, and Lin (2020) claim is driving their findings).”
Glossner (2020), shows that “I also find that passive investors have no significant effect on corporate social responsibility (CSR).”
Appel, I. R., T. A. Gormley, and D. B. Keim. 2020. Identification using Russell 1000/2000 index assignments: A discussion of methodologies. Critical Finance Review
Chen, Tao, Hui Dong, and Chen Lin. 2020. Institutional shareholders and coprorate social responsibility. Journal of Financial Economics 135:483–504.
Simon Glossner, 2020,Russell Index Reconstitutions, Institutional Investors, and Corporate Social
Responsibility, Critical Finance ReviewThat's a Bill Schwert edited paper. He chose a referee that he knew had a low hurdle.
CL’s 2020 JFE paper, Institutional shareholders and corporate social responsibility (https://www.sciencedirect.com/science/article/pii/S0304405X19301643 ), show that “an exogenous increase in institutional holding caused by Russell Index reconstitutions improves portfolio firms’ CSR performance”.
However, two CFR forthcoming papers (https://cfr.pub/forthcoming/ ) fail to replicate the results. Both Appel, Gormley, and Keim (2020) and Glossner (2020) show that Russell Index reconstitutions have only effect on passive institutional ownership, but no effect on total institutional ownership.
In addition, Appel, Gormley, and Keim (2020) argue that Chen, Dong and Lin (2020) “claim, however, that their results are also robust to using the approach of AGK (2016), but it is unclear how that could be possible when AGK (2016) estimation fails to detect an affect on institutional ownership (which is what Chen, Dong, and Lin (2020) claim is driving their findings).”
Glossner (2020), shows that “I also find that passive investors have no significant effect on corporate social responsibility (CSR).”
Appel, I. R., T. A. Gormley, and D. B. Keim. 2020. Identification using Russell 1000/2000 index assignments: A discussion of methodologies. Critical Finance Review
Chen, Tao, Hui Dong, and Chen Lin. 2020. Institutional shareholders and coprorate social responsibility. Journal of Financial Economics 135:483–504.
Simon Glossner, 2020,Russell Index Reconstitutions, Institutional Investors, and Corporate Social
Responsibility, Critical Finance ReviewThat's a Bill Schwert edited paper. He chose a referee that he knew had a low hurdle.