This paper reviews the theoretical and empirical literature on the nature and consequences of the corporate governance problem, providing some guidance on the major points of consensus and dissent among researchers on this issue. Also analysed is the effectiveness of a set of external and...

In this paper, by using a database of Portuguese and Brazilian firms, where the Latin Corporate Governance Model is traditionally predominant but increasingly out of fashion, we investigate whether the Latin Corporate Governance Model performs worse or better than others (variants of the...

Several supervisory authorities and governmental working groups issued recommendations on corporate governance for listed companies during the nineties. In this paper, we used a unique database that allowed us to analyse the relationship between the level of compliance of the recommendations...

This paper provides new international evidence on the relationship between dividend policy and insider ownership by analysing a sample of firms from countries characterised by an Anglo-Saxon tradition and a matching sample of companies from countries with Civil Law legal systems. We hypothesize...

Prior research has found evidence that some characteristics of the board of directors influence the quality of accounting information (e.g., Beasley, 1996; Dechow et al., 1996; Klein, 2002a; Xie et al., 2003). In this study we extend the literature by analysing a different dimension of accounting information...

In this paper, we investigate whether different business models in the same industry (passenger air transportation) lead to different corporate governance models. We found that low cost carriers (LCCs) organise their boards differently from full service carriers (FSCs), in order to achieve lower...

Institutional investors are often seen as potential solutions for corporate governance problems and are requested to have a more active role in the monitoring and control of listed companies. In this paper we develop a model that, within a universal banking framework, allows one to conclude...

This paper analyses some particular characteristics of merger and acquisition (M&A) transactions in an emerging market (Portugal) using a sample of 52 M&A targets between 1989 and 2001. Our evidence shows that the run-up effect in the Portuguese market is of a significantly larger magnitude (as...

Despite the fact that a very significant proportion of the human population is living with financial difficulties and other constraints typical of poverty, scientific studies in the areas of Economics and especially in International Economics that address the issue of poverty and of poor...