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structure, corporate governance and performance of listed companies. First, the Swedish pension reform increased the …
Persistent link: https://www.econbiz.de/10005662367
Casual observation suggests that capital allocation is often driven by favouritism and connections rather than by market mechanisms and information on future expected returns. We investigate when favouritism or markets emerge as an equilibrium outcome in the allocation of capital. We show that...
Persistent link: https://www.econbiz.de/10005666824
We investigate whether cultural differences between professional decision-makers affect financial contracts in a large dataset of international syndicated bank loans. We find that lead banks offer smaller loans at a higher interest rate to more culturally distant borrowers. Furthermore, lead...
Persistent link: https://www.econbiz.de/10005792327
-voting shares and have broader implications on the effects of investors’ views for stock prices and corporate governance. …
Persistent link: https://www.econbiz.de/10011084453