Adhocracy organizational culture

, 5

All-in-drawn spreads (AISDs)

, 121, 125

Altman Z-score

, 131–133

American Stock Exchange (AMEX)

, 125

Apple

, 31

Aspirational culture

, 3–4

Audit committee

, 102–103

expertise

, 102–103

independence

, 102–103

Bank efficiency

, 192, 195

mortgage loan securitization

, 209

nonmortgage loan securitization

, 209

impact of securitization on

, 201–207

Bank heterogeneity

, 207–208

Bank inputs and outputs

, 217

Bank loans

, 120

mechanisms

, 143–146

spread

, 127–131

variables

, 125

Bank size

, 195–196

Banking sector

, 158

Bankruptcy of Lehman Brothers

, 193, 200

Blockholders

, 123–124

Board of directors

, 107

Borrower stock liquidity

, 127–131

impact on nonprice loan terms

, 146–147

mechanisms

, 143–146

Breusch-Pagan/Cook-Weisberg test (BP test)

, 169

Career concerns as mechanism

, 66–69

Center for Research in Security Prices (CRSP)

, 124

Clan organizational culture

, 5

Community

, 21–23

Composite measures

, 1–2

Conventional banks (CBs)

, 157, 159–160

CSR disclosure in

, 160

Corporate culture

, 1–2, 4

data

, 6–8

findings

, 8–25

literature review

, 3–5

Corporate external financing

, 120

Corporate governance

, 21, 101–102

improvement in

, 143–145

mechanism

, 121–122

Corporate performance

, 21–25

community

, 21–23

corporate governance

, 21

diversity

, 23

employees relations

, 23

environment

, 23–24

human rights

, 24

literature on

, 30

market-to-book asset ratio

, 25

product’s social performance

, 24

Corporate Social Responsibility (CSR)

, 2, 156

activities

, 5

descriptive statistics

, 170–171

disclosure in conventional and Islamic banks

, 160

empirical results

, 170–181

negative effect of CSR on performance

, 162–163

performance measures

, 2–3, 6, 8

positive effect of CSR on banks’ financial performance

, 161–162

practices

, 157

reporting

, 5

research findings

, 171–181

washing

, 2–3

Corporate values

, 2

Correlation matrix

, 218

Correspondence analysis model (CA model)

, 8, 10

Cost of bank loans

, 120–122

Credit rating

, 126

Credit risk (CR)

, 168

Cumulative abnormal returns (CARs)

, 93–94

Cumulative distribution function (CDF)

, 93–94

Current ratio

, 126

Data Envelopment Analysis (DEA)

, 31–32, 45, 192, 195

DEA-based ability measure

, 32–33, 42–44, 46

investigating variation in

, 45–46

Decimalization

, 121

Decisions

, 35

Delaware

, 122

Diagnostic tests

, 169

Dickey-Fuller test

, 45–46

Difference-in-differences methodology (DiD methodology)

, 33, 62–65, 121, 138, 142, 193, 199

Disclosure

, 157

Diversification

, 193–194

ratio

, 195–196

Diversity

, 23

Durbin Chi-square test statistic

, 134–135

Durbin Wu Hausman test (DWH test)

, 169

Dynamic patterns analysis

, 206–207

EBITDA

, 126

Econometric techniques

, 133, 168–169

Efficiency Scores

, 198

Employees relations

, 23

Environment

, 23–24

Environmental, social, and governance (ESG)

, 6–8

impact of bank performance on voluntary ESG disclosure

, 176

disclosure score

, 165–166

impact of ESG on bank performance

, 171–176

Execucomp database

, 31–32, 36

Exogenous shocks

, 76–77, 121

Exploitative innovation

, 50–53

Exploratory innovation

, 50–53

External equity financing

, 123

Falsification test

, 77

Financial constraints, reduction in

, 143

Financial crisis

, 194

Financial performance measures

, 164–165

Firm performance

, 30

Firm-fixed effects

, 134

Fixed effects probit model

, 59

GCC

banks

, 157–158

demographics of banking sector in

, 159–160

financial institutions

, 157

model and hypotheses

, 160–164

research sample and methodology

, 164–169

stock exchanges

, 158

Gender diversity

, 102

General Ability Index (GAI)

, 43–44

Generality of patents

, 53–58

GMM methodology

, 158–159, 168

Golden parachutes

, 35–36

Good corporate governance

, 101–102

Heckman self-selection model

, 192–193, 198, 201

Herfindahl-Hirschman Index

, 195–196

Heteroskedasticity issues

, 88

Hierarchical organizational culture

, 5

High-ability managers

, 31–32

Higher delta WPS

, 35

Higher stock liquidity

, 123

Human rights

, 24

Industry

models to distinguish industry and values effects on performance

, 15–21

and organizational culture

, 4

relationship between performance measures and industries

, 13–15

Innovation

, 29–30

managerial characteristics, and compensation

, 58–59

Innovative efficiency

, 29–30

Institutional ownership

, 126

Instrumental variables approach

, 134–135

Internal audit

, 102

data and methodology

, 105–109

effort

, 104

literature review

, 104–105

results

, 109–113

Investment in internal audit

, 106

Islamic banks (IBs)

, 157, 159–160

CSR disclosure in

, 160

Israel Securities Authority (ISA)

, 105

Israeli market

, 103

Justification

, 169

KPSS Patent Data

, 33, 36

Leverage

, 126

Leveraged buyout (LBO)

, 76

announcement returns

, 93–95

control groups

, 88–90

data and methods

, 81–86

empirical analysis

, 86–97

estimate value of tax benefits

, 95–97

heterogeneous treatment effects

, 91–93

institutional background

, 78–79

literature review

, 78–81

related literature

, 79–81

research method

, 84

robustness checks

, 88

sample construction

, 81–84

state-level analysis

, 91

summary statistics

, 84–86

tax benefits in

, 76

effect of tax changes in neighboring states

, 90–91

effect of tax changes on firms’ decisions

, 77

transactions

, 76

Liquidity

index

, 192–193, 198

ratio

, 195–196

Loan Pricing Corporation (LPC)

, 124

Loan sale activities on efficiency scores

, 209–212

Local-market power

, 195–196

Logistic regression

, 77, 84

London Interbank Offered Rate (LIBOR)

, 121

Lower-ability managers

, 31–32

Mahalanobis matching

, 59–62

Managerial ability

, 30–33

construction of innovation measures

, 40–42

data

, 36–46

DEA-based managerial ability measure

, 42–46

empirical findings

, 46–69

Marginal tax rates (MTR)

, 77–78

Market organizational culture

, 5

Market-to-book ratio (MBR)

, 25, 126, 165

MaxDebt

, 96

Maya (online reporting system)

, 105

Means

, 196

Medians

, 196

Modified Altman Z-score

, 131, 133

Mortgage loan securitization

, 209

Nasdaq

, 125

NBER patent database

, 33, 36

Net interest income (NII)

, 165

New York Stock Exchange (NYSE)

, 125

Non-interest income

, 165

Noninterest expense ratio

, 195–196

Nonmortgage loan securitization

, 209

Nonmortgage securitization ratio

, 193

Nonperforming loans

, 195–196

Ordinary least squares (OLS)

, 127, 168, 198

Organizational culture

industry, and performance relationships

, 4–5

industry and

, 4

as values

, 3–4

Originality of patents

, 53–58

Patent quantity, quality, and innovative efficiency

, 46–50

Patented innovations

, 34

Patents of firms

, 34

Peer liquidity index

, 192–193, 198

Performance

, 157

Performance variables

, 28

Poisson regression

, 91

Pre-SOX empirical studies

, 104–105

Product’s social performance

, 24

Propensity score matching process

, 59, 62, 139

Property, plant, and equipment (PPE)

, 126

R&D expenditures

, 29–30, 36, 40, 49

Regression analysis

, 15, 77, 86, 88

Relative effective spread (RES)

, 125

RepayDebt

, 96–97

Restatements

, 102

Retained interest ratio

, 195

Return on assets (ROA)

, 77–78, 86, 126, 164–165

Return on Equity (ROE)

, 164–165

Return volatility

, 126

Robustness

, 59–62

checks

, 88, 131, 133

propensity score matching

, 59–62

Sarbanes-Oxley Act of 2002

, 103

Scaled WPS

, 35

“Scaled-wealth-performance sensitivity” measure

, 144–145

Securities and Exchange Commission (SEC)

, 105

Securities Data Company (SDC)

, 81–82

Securitization

, 191–192

data and variables

, 194–198

descriptive statistics

, 196–198

empirical strategy

, 198–201

impact

, 192–193

impact on bank efficiency

, 201–207

ratio

, 195

Securitizers

, 196–198

Self-citations

, 53

Signaling theory

, 195

Slack resource theory

, 162

Social responsibility

, 157

Split sample analysis

, 219–220

Stakeholder’s theory

, 161

Standard deviations (SDs)

, 196

State-level corporate tax

, 192–193, 198–199

Stock liquidity

, 119–120

bank loan variables

, 125

data sources and sample selection

, 124–125

descriptive statistics

, 127

empirical results

, 127–133

endogeneity concern

, 133–142

mechanisms

, 121–122

negative view on stock liquidity and loan costs

, 124

positive view on stock liquidity and loan costs

, 123–124

related literature

, 123–124

robustness checks

, 131–133

sample construction and variable definition

, 124–127

variables

, 125–126

Super-Analyst

, 105

System GMM estimator

, 168–169

Takeover exposures

, 146

Tax benefits

, 78, 80–81

estimate value of

, 95–97

hypothesis

, 76, 80

Tax changes

, 77

Tel Aviv Stock Exchange (TASE)

, 103, 105

Temporal matching method

, 77

Tobin Q (TQ)

, 164–165

Total Capital (TC)

, 166–168

Total Loans to total deposits (L/D)

, 166–168

Total securitization ratio

, 201

Trade and Quote database (TAQ database)

, 124–125

Trade-off theory

, 163

Two-by-two typologies

, 1–2

Two-stage least squares approach (2SLS approach)

, 134

United Arab Emirates (UAE)

, 159

Values

, 1–4

category definitions and composition

, 7–8

relationship between values and industries

, 8–11

relationship between values and performance measures

, 11

statements

, 6

Variable definition

, 216

Vega WPS

, 35

Voluntary disclosure (VD)

, 156

high level

, 156–157

Wealth performance sensitivity (WPS)

, 35, 58

Wealth transfer hypothesis

, 80–81