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We investigate how the interaction between product market competition and firm-level corporate governance enhances the accuracy of analysts' forecasts and reduces the forecasts' deviation. Using a sample of Brazilian public firms covered by analysts, we find that competitive industries provide...
Persistent link: https://www.econbiz.de/10013021973
Brazil, as of earlier 2014. It intends to help foreign researchers and practitioners to understand the evolution of the … debates about corporate governance in Brazil, as well as its current state. The presentation is divided in five topics: 1. A … big picture about Brazil, including a brief comparison against other BRICs; 2. Historical perspective and main corporate …
Persistent link: https://www.econbiz.de/10014173449
”, Brazil became a unique country for corporate governance studies. From this date on it became possible to distinguish, in the … those that don’t. This article objective, considering Brazil as a case study, was to assess the impact of higher levels of …
Persistent link: https://www.econbiz.de/10014200053
This article aims to analyze under theory of graphs assumptions, small worlds approach, how the configuration of the global network of relations among board members of public companies listed in the Brazilian between 2004 and 2007 evolved. To verify the validity of small world approach, the...
Persistent link: https://www.econbiz.de/10013149181
Persistent link: https://www.econbiz.de/10011860751
We investigate whether characteristics of the home country capital market environment, such as information disclosure and investor rights protection, continue to affect ADRs cross-listed in the U.S. Using microstructure measures as proxies for adverse selection, we find that characteristics of...
Persistent link: https://www.econbiz.de/10013116465
The purpose of this paper is to revisit and extend previous research work that examines the ADR-listing effects on the trading process of all the domestically-listed stocks in the main Latin American exchanges. The most important result is consistent with the idea of a greater isolation (from...
Persistent link: https://www.econbiz.de/10013069811
Using high frequency data we investigate the behavior of the intraday volatility and the volume of eight cross-listed French firms. There is a two hour “overlap” period during which French firms are traded in Paris and their related American Depositary Receipts (ADRs) are traded in New York....
Persistent link: https://www.econbiz.de/10011854860
Drawing inspiration from American institutionalism and new institutional economics, this paper discusses the rise of large corporate farms as the transition from the classic capitalist firm to the corporate form of organization based on the separation of ownership and control. Three case studies...
Persistent link: https://www.econbiz.de/10011712894
state ownership. This paper examines Brazil's efforts to address agency conflicts in SOEs, including new legislation (Law …
Persistent link: https://www.econbiz.de/10015054007