International spillovers of corporate scandal: evidence from the Harvey Weinstein event

Jiafu An, Jiaman Xu*

*Corresponding author for this work

Research output: Contribution to journalArticlepeer-review

1 Downloads (Pure)

Abstract

Exploiting a representative survey which overlapped with the revelation of the Harvey Weinstein scandal, we firstly discover that the scandal in the United States causally increased the preference for gender equality in Italy. Consistent with prospect theory, we then show that firms in the entertainment industry experienced excess loss in share value compared to their peers in other industries immediately following the revelation of the scandal. Further analyses suggest that this value impact is stronger for firms with a higher percentage of women executives. Our results are thus relevant for institutional investors holding a global portfolio.

Original languageEnglish
Number of pages20
JournalEuropean Journal of Finance
Early online date28 Mar 2021
DOIs
Publication statusE-pub ahead of print - 28 Mar 2021

Keywords

  • corporate scandal
  • Gender inequality
  • Harvey Weinstein

Fingerprint Dive into the research topics of 'International spillovers of corporate scandal: evidence from the Harvey Weinstein event'. Together they form a unique fingerprint.

Cite this