Showing 1 - 9 of 9
In this paper we explore the role of the static, selection and dynamic corporate governance changes on performance of commercial banks. We use stochastic cost frontier and panel data methods for an unbalanced panel data of Pakistani banks from 1991 to 2005. We find overall bank cost inefficiency...
Persistent link: https://www.econbiz.de/10009363274
The relation between multiple directorships, busy directors and firm performance has been researched predominantly in the context of developed economies, notably the US. This paper extends the existing literature on multiple directorships in two ways; first, by providing additional evidence on...
Persistent link: https://www.econbiz.de/10009363728
It is widely believed that corporate boards are overly reluctant to fire their CEOs. The conventional explanation for retaining a CEO regardless of his/her talent is that a CEO chooses the board members and has the power to fire them. However, very few studies have investigated how a new CEO is...
Persistent link: https://www.econbiz.de/10009363741
Perception of the business cycle can differ among firms, which has been confirmed by extensive survey data. The question we want to answer in this paper is "What causes differences in business cycle perception?" by utilizing a newly designed questionnaire. Specifically, we match properties...
Persistent link: https://www.econbiz.de/10009363813
India has an elaborate system of capital controls which impede cap- ital mobility and particularly short-term debt. Yet, when the global money market fell into turmoil after the bankruptcy of Lehman Broth- ers on 13/14 September 2008, the Indian money market immediately experienced considerable...
Persistent link: https://www.econbiz.de/10009363877
This paper analyses two pronounced features of Japanese corporate governance : large corporate boards almost entirely composed of insiders and the tendency to appoint CEOs through internal promotions. It is often argued that Japanese boards are less effective in monitoring CEOs than U.S. boards...
Persistent link: https://www.econbiz.de/10009363886
There are two different views on the effects of public financial institutions on corporate debt restructuring : the soft budget view and the hard budget view. The former view, which is held by Kornai (1979, 1983), Dewatripont and Maskin (1995), and others insists that because centralized public...
Persistent link: https://www.econbiz.de/10009363896
La Porta et al. (1998) assign Pakistan, a common-law country, the maximum score of 5 for their anti-director rights index. Pakistan should therefore be a country with good investor protection attracting large amounts of investments. However, the reality could not be more different. Pakistan has...
Persistent link: https://www.econbiz.de/10009365050
This paper advances the argument that institutional investors, particularly mutual funds can play a vital role in enhancing corporate governance in emerging economies. Accordingly, regulatory framework need to be structured in a manner that would encourage the growth of the mutual fund industry...
Persistent link: https://www.econbiz.de/10009365423