2379 research outputs found
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A Dual Enrollment Police Academy with Master of Science in Criminology and Criminal Justice: The Student Officers’ Experiences
No full textA unique inflammaging profile generated by T cells from people with obesity is metformin resistant
No full textDaily Saturated Fat and Sodium Content of Elementary School Meals in a Large Sample of 128 Geographically Diverse School Systems in the United States
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Household Food Insecurity Is Associated with Parental Perceptions of and Student Participation in School Meals
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At Midnight I Rise: The Symbolism of Midnight in the Assertion of Jewish-Christian Difference
No full textA Program Evaluation of an International, Intercultural E-Community-Engagement Initiative
No full textCorporate Misconduct and Innovation: Evidence from the Pharmaceutical Industry
No full textWe examine the relationship between corporate misconduct and pharmaceutical firm innovation and performance. Pharmaceutical firms obtain significantly fewer new product approvals by the U.S. Food and Drug Administration (FDA) following corporate regulatory violations, lawsuits, and Securities and Exchange Commission (SEC) regulatory enforcement actions. We also examine the potential reasons why innovative capacity is reduced for culpable firms. Following instances of misconduct, pharmaceutical firms are 50 percent less likely to engage in business expansions, engage in significantly fewer new strategic alliances and partnerships, and are awarded fewer government R&D grants. We attribute these results to the reputational loss associated with public knowledge of corporate misconduct. In support of this hypothesis, we find pharmaceutical firms experience negative cumulative abnormal stock returns (CARs) surrounding SEC enforcement announcements, and misconduct incidents increase the probability of analyst concerns. Overall, our results are consistent with the reputational loss associated with corporate misconduct being an important factor in future reductions in pharmaceutical firm innovative capacity
