We examine the determinants of Japanese foreign direct investment (FDI) focusing on institutional and social factors. Using panel data on 59 countries from 1995 to 2008, we find that host countries with free and open markets and greater cultural distance from Japan attract Japanese FDI. Good...

The objective of our study is to look for anequilibrium among three factors: the privatebenefits that main shareholders can obtain fromthe firm, the social benefits derived from acertain ownership structure (such assupervision and alignment of interests) and thecosts derived from ownership...

This paper proposes a brief review of the use of power indices in the corporate governance literature. Without losing sight of the field of application, it places the emphasis on the game-theoretic aspects of this research and on the issues that arise in this framework. It should be noted that...

We examine the prevalence and performance impact of controlling shareholders and study corporate board structures and ownership structures in 1796 Indian firms. Families (founders) are present on the boards in 63.2 (65.5) percent of the sample firms. On average, founders own over 50% of...

Purpose – Using data on Indian listed companies for 2005, the purpose of this paper is to examine how firm ownership relates to auditor choice. More specifically, the author tests several hypotheses about the links between firm ownership, auditor relationships and earnings management....

This paper analyses empirically the determinants of risk-taking in Tunisian commercial banks, with special emphasis on the ownership structure, the acceptance of government officials on bank's boards, the capital adequacy requirements and the franchise value. The sample used comprised ten...

In view of CG compliance requirements and reporting standards, as envisaged by the recent provisions of the SEBI's 'Clause 49' of the Listing Agreement, this case study analyses the CG reporting practices of RIL in India. We have primarily used secondary sources of information, both from the...

Purpose – The purpose of this paper is to explore the state of environmental reporting by Indian companies on their web sites and also in their annual reports. Design/methodology/approach – The web sites of the companies in the sample were visited to examine the accessibility and extent of...

Purpose – The purpose of this paper is to test two agency-based hypotheses regarding the effect of ownership concentration on dividend policy using a large sample of Japanese firms. Design/methodology/approach – Level regressions associating payout rates to ownership concentration are run....

This article provides an empirical answer to the question of how the unique incentives of founding families influence investment decisions. Contrary to theoretical considerations, the results indicate that family firms are not more susceptible to external financing constraints. When compared to...