Showing 1 - 10 of 5,281
This study provides new evidence on the impact of governance on the performance of privately defined contribution … factors are found to be important for pension fund return on invested assets and also for its economic performance … account the different interests of the beneficiaries and owners as it may determine their performance. …
Persistent link: https://www.econbiz.de/10009767046
the performance of ethnic Chinese firms deteriorates over time. We present evidence consistent with the hypothesis that … ethnic Chinese firms underinvest in those firm attributes that may contribute to long-term performance, such as human capital …
Persistent link: https://www.econbiz.de/10011010069
This study analyses the effect of board diversity (gender and nationality) on performance in banks. By making use of a … increases bank performance, while national diversity inhibits it. Complementarily, according to their institutional …, board diversity has less influence on the performance of banks. …
Persistent link: https://www.econbiz.de/10011209841
privately defined contribution pension fund performance in Poland. Using a hand-collected data set, we find evidence that the … chairman, as a motivated insider, plays an important role in determining fund performance. The results also show, although with … weaker evidence, that outsiders may positively impact fund performance. During the 2007–2008 crisis, however, the insider …
Persistent link: https://www.econbiz.de/10010595169
This paper examines the evolution of corporate boards following a large performance decline. Over 40% of the original … underperforming firms undergo a strong recovery subsequently, with the largest performance improvement occurring among firms that …
Persistent link: https://www.econbiz.de/10011052873
's performance and the monitoring role played by boards of directors. It investigates whether the political influence of ownership … and that of management are complements or substitutes in their effects on board independence and accounting performance … accounting performance. The positive effect of a board chair's political connections on firm-level performance is only documented …
Persistent link: https://www.econbiz.de/10011117765
There is anecdotal evidence that the primary reason why managers hold cash on their balance sheets is to cover operating losses (operating shortfalls). In this paper, we rationalize this as an optimal response in a world with contract heterogeneity. Specifically, we relax the standard assumption...
Persistent link: https://www.econbiz.de/10003904170
This paper examines how the external information environment in which foreign subsidiaries operate affects the investment decisions of multinational corporations (MNCs). We hypothesize and find that the investment decisions of foreign subsidiaries in country-industries with more transparent...
Persistent link: https://www.econbiz.de/10009579236
For nearly two years, the two of us have had a running discussion of the costs and benefits of automatic stays in bankruptcy for qualified financial contracts (QFCs) such as derivatives and repurchase agreements, particularly those held by systemically important major dealer banks. Under current...
Persistent link: https://www.econbiz.de/10009504439
Managers' incentives to round up reported EPS cause under-representation of the number four in the first post-decimal digit of EPS, or "quadrophobia." We develop a novel measure of aggressive financial reporting practices based on a firm's history of quadrophobia. Quadrophobia is pervasive and...
Persistent link: https://www.econbiz.de/10009506620