Jonathan M. Karpoff's research page

Welcome! Use this page to download copies of my published or current working papers...

Current working papers

The Tragedy of ‘The Tragedy of the Commons’ – Hardin vs. the Property Rights Theorists 

The Prevalence and Costs of Financial Misrepresentation (with Abdullah Alawadhi, Jennifer Lynch Koski, and Gerald S. Martin)

The Consequences to Directors of Deploying Poison Pills (with William C. Johnson and Michael D. Wittry)

The Lifecycle Effects of Firm Takeover Defenses (with William C. Johnson and Sangho Yi)

- The Online Appendix for this paper, containing additional results.

- The online Data Appendix for this paper.

Foreign Bribery: Incentives and Enforcement (with D. Scott Lee and Gerald S. Martin)

Which Antitakeover Provisions Matter? (with Robert J. Schonlau and Eric W. Wehrly)

Enforcement Waves and Spillovers (with Xiaoxia Lou and Hae mi Choi)

Shareholder Perks, Ownership Structure, and Firm Value (with Robert J. Schonlau and Katsushi Suzuki)

The Legal Penalties for Financial Misrepresentation (with D. Scott Lee and Gerald S. Martin)

Published or accepted papers

The Trust Triangle:  Laws, Reputation, and Culture in Empirical Finance Research (with Quentin Dupont), The Journal of Business Ethics, forthcoming.

Financial Reporting Fraud and Other Forms of Misconduct: A Multidisciplinary Review of the Literature (with Dan Amiram, Zahn Bozanic, James D. Cox, Quentin Dupont, and Richard G. Sloan), Review of Accounting Studies 23(2) (June 2018), 732-783.

Institutional and Legal Context in Natural Experiments: The Case of State Antitakeover Laws (with Michael D. Wittry), Journal of Finance, 73(2) (April 2018), 657- 714.

Proxies and Databases in Financial Misconduct Research (with Allison Koester, D. Scott Lee, and Gerald S. Martin), The Accounting Review, 92(6) (November 2017), 129-163.

Do Takeover Defense Indices Measure Takeover Deterrence? (with Robert J. Schonlau and Eric W. Wehrly), Review of Financial Studies, 30(7) (July 2017), 2359-2412.

- Download the Data Appendix for this paper, with instrumental variable values for the G-index, E-index, and O-index from 1990-2008.

Thirty years of shareholder activism: A survey of empirical research (with Matthew R. Denes and Victoria B. McWilliams), Journal of Corporate Finance, 44 (June 2017), 405-424.

Short Selling and Earnings Management: A Controlled Experiment (with Vivian W. Fang and Allen Huang), Journal of Finance, 71 (June 2016), 1251-1293.

- The data and computer code used to generate the accruals results in this paper.

The Bonding Hypothesis of Takeover Defenses: Evidence from IPO Firms (with William C. Johnson and Sangho Yi), Journal of Financial Economics, 117 (August 2015), 307-332.

- The Internet Appendix for this paper, containing additional results.

The Grey Areas of Firm Behavior: An Economic Perspective, Socio-Economic Review, 12 (January 2014), 167-176.

Contracting Under Asymmetric Information:  Evidence from Lockup Agreements in Seasoned Equity Offerings (with Gemma Lee and Ronald W. Masulis), Journal of Financial Economics,110 (December 2013), 607-626.

- Download the Internet Appendix for this paper, containing additional results.

Internal corporate governance, CEO turnover, and earnings management (with Sonali Hazarika and Rajarishi Nahata), Journal of Financial Economics, 104 (April 2012), 44-69.

- The Internet Appendix for this paper, containing additional results.

Short Sellers and Financial Misconduct (with Xiaoxia Lou), Journal of Finance, 65 (October 2010), 1879-1913.

- The Internet Appendix for this paper, containing additional results and a tabular summary of the paper's results.

The Cost to Firms of Cooking the Books (with D. Scott Lee and Gerald S. Martin), Journal of Financial and Quantitative Analysis, 43 (September 2008), 581-612.

The Consequences to Managers for Financial Misrepresentation (with D. Scott Lee and Gerald S. Martin), Journal of Financial Economics, 88 (May 2008), 193-215.

The Determinants of Corporate Board Size and Composition:  Empirical Evidence (with Audra L. Boone, Laura Casares Field, and Charu G. Raheja), Journal of Financial Economics 85:1 (July 2007), 66-101.

Do Pills Poison Operating Performance? (with Morris G. Danielson), Journal of Corporate Finance, 12 (June 2006), 536-559.

The Reputational Penalties for Environmental Violations:  Empirical Evidence (with John R. Lott, Jr. and Eric Wehrly), Journal of Law and Economics 68 (October 2005), 653-675.

Review of The Econometrics of Corporate Governance Studies by Sanjai Bhagat and Richard H. Jefferis, Jr., Journal of Economic Literature 63 (March 2005), 152-154.

Information Precision, Transaction Costs, and Trading Volume (with Orie E. Barron), Journal of Banking and Finance 28:6 (June 2004): 1207-1498.

Takeover Defenses of IPO Firms (with Laura Casares Field), Journal of Finance 57:5 (October 2002):  1857-1889.

Public Versus Private Initiative in Arctic Exploration:  The Effects of Incentives and Organizational Structure Journal of Political Economy 109:1 (February 2001):  38-78.

Defense Procurement Fraud, Penalties, and Contractor Influence (with D. Scott Lee and Valaria Vendrzyk), Journal of Political Economy 107:4 (August 1999):  809-842.

On the Determinants and Importance of Punitive Damages Awards (with John R. Lott, Jr.), Journal of Law and Economics 62:1 (April 1999):  527-573.

Management Turnover and Corporate Governance Changes Following the Revelation of Criminal Fraud (with Anup Agrawal and Jeffrey Jaffe), Journal of Law and Economics, 62:1 (April 1999):  309-342.

Corporate Finance and Corporate Control:  An Empirical Research Agenda,  Journal of Institutional and Theoretical Economics, 155:1 (March 1999):  239-246.

On the Uses of Corporate Governance Provisions (with Morris G. Danielson), Journal of Corporate Finance 4:4 (1998):  347-371.

Corporate Governance and Shareholder Initiatives:  Empirical Evidence (with Paul H. Malatesta and Ralph A. Walkling), Journal of Financial Economics 42:3 (1996):  365-395.

Earlier published papers, 1984 through 1996

Arctic exploration and related historical essays

(Written for The Encyclopedia of the Arctic, Mark Nuttall, Editor, Routledge 2005)

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