Edward M. Watts

Yale School of Management

Assistant Professor

165 Whitney Ave

New Haven, CT 06511

European Corporate Governance Institute (ECGI)

c/o the Royal Academies of Belgium

Rue Ducale 1 Hertogsstraat

1000 Brussels

Belgium

  • Yale School of Management

  • European Corporate Governance Institute (ECGI)

SCHOLARLY PAPERS

18

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37,884

TOTAL CITATIONS
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Top 5,837

in Total Papers Citations

287

Scholarly Papers (18)

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1.

ESG Ratings: A Compass without Direction

Rock Center for Corporate Governance at Stanford University Working Paper Forthcoming
Number of pages: 16 Posted: 04 Aug 2022
David F. Larcker, Lukasz Pomorski, Brian Tayan and Edward M. Watts
Stanford Graduate School of Business, AQR Capital Management, LLC, Stanford University - Graduate School of Business and Yale School of Management
Downloads 9,815 (1,244)
Citation 7

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Corporate governance, ESG, environmental, social, governance, sustainability, socially responsible investing, corporate responsibility, sustainability, ESG ratings, ESG initiatives, ESG disclosure, board of directors, corporate governance research

2.

Diversity Washing

Forthcoming in the Journal of Accounting Research, Chicago Booth Research Paper No. 22-18, European Corporate Governance Institute – Finance Working Paper No. 868/2023
Number of pages: 70 Posted: 12 Dec 2022 Last Revised: 23 Apr 2024
Andrew Baker, David F. Larcker, Charles McClure, Durgesh Saraph and Edward M. Watts
Berkeley Law School, Stanford Graduate School of Business, University of Chicago Booth School of Business, Jump Trading and Yale School of Management
Downloads 7,249 (2,075)
Citation 18

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Diversity disclosure; Human capital; Social washing; Environmental, social, and corporate governance (ESG)

3.

Where's the Greenium?

Rock Center for Corporate Governance at Stanford University Working Paper No. 239, Stanford University Graduate School of Business Research Paper No. 19-14, Journal of Accounting and Economics, Volume 69, Issues 2–3, April–May 2020, 101312
Number of pages: 58 Posted: 13 Feb 2019 Last Revised: 17 Nov 2020
David F. Larcker and Edward M. Watts
Stanford Graduate School of Business and Yale School of Management
Downloads 4,555 (4,669)
Citation 175

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Environmental, Social and Governance (ESG), Socially Responsible Investing (SRI), Municipal Bonds, Green Bonds

4.

Retail Investors and ESG News

Journal of Accounting & Economics (JAE), forthcoming
Number of pages: 60 Posted: 15 Mar 2023 Last Revised: 13 Jul 2024
Qianqian Li, Edward M. Watts and Christina Zhu
Stanford University, Graduate School of Business, Students, Yale School of Management and University of Pennsylvania - The Wharton School
Downloads 3,162 (8,462)
Citation 25

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Retail investors, Individual investors, Socially responsible investing (SRI), Environmental social and governance (ESG)

5.

Seven Myths of ESG

Rock Center for Corporate Governance at Stanford University Working Paper Forthcoming
Number of pages: 15 Posted: 05 Nov 2021
David F. Larcker, Brian Tayan and Edward M. Watts
Stanford Graduate School of Business, Stanford University - Graduate School of Business and Yale School of Management
Downloads 2,532 (11,978)
Citation 22

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Corporate governance, ESG, environmental, social, governance, sustainability, socially responsible investing, corporate responsibility, sustainability, ESG ratings, ESG initiatives, ESG disclosure, board of directors, corporate governance research

6.

Information Acquisition Costs and Price Informativeness: Global Evidence

Chicago Booth Research Paper No. 21-05
Number of pages: 82 Posted: 25 Jan 2021 Last Revised: 05 Mar 2025
Charles McClure, Shawn X. Shi and Edward M. Watts
University of Chicago Booth School of Business, University of Washington - Michael G. Foster School of Business and Yale School of Management
Downloads 1,391 (30,563)
Citation 1

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Disclosure, Information acquisition, Price efficiency, Price informativeness, Earnings announcements

7.

Sharing the Pain: How Did Boards Adjust CEO Pay in Response to COVID-19?

Rock Center for Corporate Governance at Stanford University Closer Look Series: Topics, Issues and Controversies in Corporate Governance No. CGRP-86
Number of pages: 22 Posted: 01 Sep 2020
Amit Batish, Andrew Gordon, David F. Larcker, Brian Tayan, Edward M. Watts and Courtney Yu
Equilar, Equilar, Stanford Graduate School of Business, Stanford University - Graduate School of Business, Yale School of Management and Equilar
Downloads 1,377 (31,001)
Citation 2

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Corporate governance, CEO pay, compensation, director compensation, executive compensation, COVID, ESG, layoffs, furloughs, salary reductions, supplemental bonuses, downturn, annual bonus, LTIP, restricted stock, lost wealth, dividend suspension, reputation, boards of directors, corporate governance

8.

Stock-Option Financing in Pre-IPO Companies

Rock Center for Corporate Governance at Stanford University Working Paper Forthcoming
Number of pages: 9 Posted: 18 Aug 2021 Last Revised: 31 Aug 2021
David F. Larcker, Brian Tayan and Edward M. Watts
Stanford Graduate School of Business, Stanford University - Graduate School of Business and Yale School of Management
Downloads 1,336 (32,389)
Citation 1

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Corporate governance, stock options, ISOs, NSOs, stock option financing, nonrecourse lending, pre-IPO companies, private companies, startups, secondary markets, taxes, equity compensation, employees, executives, incentives, corporate governance research

9.

Tick Size Tolls: Can a Trading Slowdown Improve Earnings News Discovery?

Stanford University Graduate School of Business Research Paper No. 19-1, The Accounting Review, Forthcoming
Number of pages: 59 Posted: 11 Nov 2018 Last Revised: 07 Jul 2020
Charles M.C. Lee and Edward M. Watts
Foster School of Business, University of Washington and Yale School of Management
Downloads 1,192 (38,252)
Citation 6

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Earnings Announcements, Price Informativeness, Information Acquisition, Price Discovery, Market Efficiency, Tick Size Pilot, Algorithmic Trading

10.

Board Diversity and Shareholder Voting

Rock Center for Corporate Governance at Stanford University Working Paper No. 245, Stanford University Graduate School of Business Research Paper No. 3915, European Corporate Governance Institute – Finance Working Paper 716/2020, Journal of Corporate Finance, Forthcoming
Number of pages: 60 Posted: 18 Nov 2020 Last Revised: 23 Sep 2023
Ian D. Gow, David F. Larcker and Edward M. Watts
University of Melbourne - Department of Accounting, Stanford Graduate School of Business and Yale School of Management
Downloads 1,070 (44,747)
Citation 1

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Board of directors; Diversity; Shareholder voting; Environmental, Social, and Governance (ESG)

11.

Retail Bond Investors and Credit Ratings

Journal of Accounting & Economics (JAE), Forthcoming
Number of pages: 66 Posted: 28 Jun 2021 Last Revised: 26 Apr 2023
Ed deHaan, Jiacui Li and Edward M. Watts
Stanford Graduate School of Business, David Eccles School of Business, University of Utah and Yale School of Management
Downloads 1,064 (45,100)
Citation 14

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Credit ratings, Retail investors, Fundamental investing, Investor sophistication, Behavioral finance

12.

Cashing It In: Private-Company Exchanges and Employee Stock Sales Prior to IPO

Rock Center for Corporate Governance at Stanford University Closer Look Series: Topics, Issues and Controversies in Corporate Governance No. CGRP-73, Stanford University Graduate School of Business Research Paper No. 18-45
Number of pages: 15 Posted: 12 Sep 2018 Last Revised: 24 May 2019
David F. Larcker, Brian Tayan and Edward M. Watts
Stanford Graduate School of Business, Stanford University - Graduate School of Business and Yale School of Management
Downloads 926 (54,758)
Citation 4

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Corporate governance, employee stock options, private company compensation, private company equity, pre-IPO compensation, pre-IPO discounts, equity compensation, private company exchanges, private company marketplaces, NASDAQ private market, Equidate, SharesPost, EquityZen, governance quality, compe

13.

Information Flows in Trading Networks

The Wharton School Research Paper
Number of pages: 50 Posted: 19 Dec 2024 Last Revised: 14 Feb 2025
Stefan Huber, Edward M. Watts and Christina Zhu
Rice University, Yale School of Management and University of Pennsylvania - The Wharton School
Downloads 558 (106,343)

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Dealer networks, Corporate bonds, Over-the-counter markets, Informed trading, Insurance companies, Credit ratings, M&A

14.

Firing and Hiring the CEO: What Does CEO Turnover Data Tell Us About Succession Planning?

Rock Center for Corporate Governance at Stanford University Working Paper Forthcoming, Stanford University Graduate School of Business Research Paper
Number of pages: 22 Posted: 12 Apr 2022
David F. Larcker, Brian Tayan and Edward M. Watts
Stanford Graduate School of Business, Stanford University - Graduate School of Business and Yale School of Management
Downloads 513 (117,899)

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Corporate governance, CEO turnover, CEO terminations, succession planning, interim successors, permanent successors, internal, external, voluntary, involuntary, Push-Out Scores, disclosure, board oversight, board of directors, corporate governance research

15.

From Implicit to Explicit: The Impact of Disclosure Requirements on Hidden Transaction Costs

Downloads 461 (134,056)

From Implicit to Explicit: The Impact of Disclosure Requirements on Hidden Transaction Costs

Journal of Accounting Research, Forthcoming
Number of pages: 55 Posted: 30 Jun 2019 Last Revised: 27 Nov 2024
Christine Cuny, Omri Even-Tov and Edward M. Watts
New York University (NYU) - Leonard N. Stern School of Business, Haas School of Business - UC Berkeley and Yale School of Management
Downloads 461 (132,470)

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Corporate bonds; Retail transaction costs; Information processing costs; Information asymmetry; Disclosure regulation; Financial advisers

From Implicit to Explicit: The Impact of Disclosure Requirements on Hidden Transaction Costs

Journal of Accounting Research, Volume 59, Issue 1, NYU Stern School of Business Forthcoming
Posted: 18 Mar 2021 Last Revised: 22 Nov 2024
Christine Cuny, Omri Even-Tov and Edward M. Watts
New York University (NYU) - Leonard N. Stern School of Business, Haas School of Business - UC Berkeley and Yale School of Management

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corporate bonds; retail transaction costs; information processing costs; information asymmetry; disclosure regulation; financial advisers

16.

Muni Disclosure: All Talk and No Trade?

Number of pages: 61 Posted: 18 Aug 2022 Last Revised: 10 Apr 2025
Christine Cuny, Ken Li, Anya Nakhmurina and Edward M. Watts
New York University (NYU) - Leonard N. Stern School of Business, McMaster University - Michael G. DeGroote School of Business, Yale School of Management and Yale School of Management
Downloads 442 (141,336)
Citation 9

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Information Content, Municipal Disclosure, Municipal Bonds

17.

Earnings News and Over-the-Counter Markets

Journal of Accounting Research, Forthcoming
Number of pages: 55 Posted: 06 Feb 2024
Stefan Huber, Chongho Kim and Edward M. Watts
Rice University, Seoul National University and Yale School of Management
Downloads 241 (270,613)
Citation 2

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earnings announcements, corporate bonds, search and bargaining, liquidity, information asymmetry

18.

Diversity Washing

Journal of Accounting Research, Volume 62, Issue 5. Pp. 1661-1709, https://doi.org/10.1111/1475-679X.12542
Posted: 18 Dec 2024
Andrew C. Baker, David F. Larcker, Charles McClure, Durgesh Saraph and Edward M. Watts
Stanford University, Law School, Stanford University, School of Law, Student, Stanford Graduate School of Business, University of Chicago Booth School of Business, affiliation not provided to SSRN and Yale School of Management

Abstract:

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diversity disclosure, human capital, social washing, environmental, social, corporate governance