It is controversial whether governance structure affects the value of the firm. This paper examines the sensitivity of firm value to capital expenditure under various levels of CEO power. The paper uses two measures of CEO power and finds that the greater the power of the CEO the less the...

This study seeks to extend hedge fund activism research to a country where the ownership structure is dominated by large major shareholders. Until now, studies about hedge fund activism mainly treated countries with dispersed ownership structures. Using an event study with 133 German hedge fund...

The purpose of this research is to analyse some key issues in corporate governance in Islamic banks. This governance has been analysed almost exclusively in the context of conventional banking markets. Islamic banking shows a fundamental departure from conventional banking. Our objective is also...