Narrow search
Showing 1 - 10 of 16,715
Cover Image
How much of the diversification discount can be explained by poor corporate governance?
Hoechle, Daniel; Schmid, Markus; Walter, Ingo; Yermack, … - In: Journal of Financial Economics 103 (2012) 1, pp. 41-60
We investigate whether the diversification discount occurs partly as an artifact of poor corporate governance. In panel … also estimate Heckman selection models that account for the endogeneity of diversification and dynamic panel generalized … method of moments models that account for the endogeneity of both diversification and governance. We find that the …
Persistent link: https://www.econbiz.de/10010702370
Cover Image
Agency conflicts around the world
Morellec, Erwan; Nikolov, Boris; Schürhoff, Norman - 2015
We use a dynamic model of financing decisions to measure agency conflicts for a large panel of 12,652 firms from 14 countries. Our estimates show that agency conflicts are large and vary significantly across firms and countries. Differences in agency conflicts are largely due to differences in...
Persistent link: https://www.econbiz.de/10011410744
Cover Image
Endogenous governance transparency and product market competition
Hidalgo-Cabrillana, Ana - In: SERIEs : Journal of the Spanish Economic Association 4 (2013) 1, pp. 113-136
This paper analyzes the determinants of governance transparency. In our model, entrepreneurs optimally decide the precision of their earning reporting by trading off the possibility of expropriating profits against the capacity to attract external funding.We find that information is only...
Persistent link: https://www.econbiz.de/10009756942
Cover Image
Chapter 1. Corporate Governance and Control
Becht, Marco; Bolton, Patrick; Röell, Ailsa - 2003
Corporate governance is concerned with the resolution of collective action problems among dispersed investors and the reconciliation of conflicts of interest between various corporate claimholders. In this survey we review the theoretical and empirical research on the main mechanisms of...
Persistent link: https://www.econbiz.de/10014023875
Cover Image
Corporate governance of financial groups
Yasui, Takahiro - 2016
Companies today, in particular banks, insurance companies and other financial institutions, increasingly operate their businesses in a group structure. These financial groups have a growing presence in markets worldwide and the economy as a whole. To do business effectively and efficiently in...
Persistent link: https://www.econbiz.de/10011582219
Cover Image
Investment treaties and shareholder claims for reflective loss : insights from advanced systems of corporate law
Gaukrodger, David - 2014
Corporate law in advanced domestic legal systems on the one hand, and typical treaties for the protection of foreign investment on the other hand, treat claims for damages by company shareholders differently. Advanced domestic systems generally bar shareholders from claiming for reflective loss...
Persistent link: https://www.econbiz.de/10010463416
Cover Image
Corporate governance data and measures revisited
Larcker, David F.; Reiss, Peter C.; Xiao, Youfei - 2015 - Draft: November, 2015
Researchers in accounting, corporate finance, economics, and law regularly evaluate the impact of corporate governance provisions on firm performance and managerial actions. Many of these studies rely on publicly available governance summaries developed by the Investor Responsibility Research...
Persistent link: https://www.econbiz.de/10011492990
Cover Image
How is corporate governance in Japan changing? : developments in listed companies and roles of institutional investors
Ueda, Ryoko - 2015
This research analyses the improvements to corporate governance within Japanese listed companies and the influence of institutional shareholders. Firstly, in order to analyse the external factors that have promoted the recent corporate governance reform, the report starts with an overview of the...
Persistent link: https://www.econbiz.de/10011402462
Cover Image
Institutional investors as owners : who are they and what do they do?
Çelik, Serdar; Isaksson, Mats - 2013
This paper provides a framework for analysing the character and degree of ownership engagement by institutional investors. It argues that the general term “institutional investor” in itself doesn’t say very much about the quality or degree of ownership engagement. It is therefore an...
Persistent link: https://www.econbiz.de/10010233693
Cover Image
Making stock markets work to support economic growth : implications for governments, regulators, stock exchanges, corporate issuers and their investors
Weild, David; Kim, Edward; Newport, Lisa - 2013
This study provides critical observations on the state of key global equity markets as recent developments have put into question their efficiency and effectiveness in facilitating capital formation. It covers the top 26 initial public offering (IPO) producing nations, with a particular focus on...
Persistent link: https://www.econbiz.de/10009775530