transparency. We can predict a clustering of attributes: bank dominance, established firms with valuable investment, but also …This Paper studies the incentives for transparency under different forms of corporate governance in a context of … decision on the degree of transparency in a context of product market competition. When firms seeking outside finance resort to …

frictions using a canonical investment model. We consider two channels by which frictions affect investment: (i) through … frictions, institutions affect investment. We find that improved corporate governance (e.g., less severe informational problems …) and enhanced contractual enforcement reduce financial frictions affecting investment, while stronger creditor rights (e …

corporate governance system and firm transparency, whereby firms with weaker governance should also optimally be more opaque. …