This study examines the influence of Mexico's efforts to improve corporate governance on firm performance and transparency. We utilize compliance data from the Code of 'Best' Corporate Practices, disclosed annually by public firms in Mexico, as a measure of corporate governance strength. We...

Using data from three production units of a large manufacturing plant that employs production teams in its assembly operations, this paper examines how changes made to an existing team-based incentive plan affects labor productivity, product quality, and worker absenteeism. The firm switched...

This paper presents empirical evidence that cash-flow volatility is negatively valued by investors. The magnitude of the effect is substantial with a 1% increase in cash-flow volatility, resulting in approximately a 0.15% decrease in firm value. We show that this increase, however, is not...