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This study examines how globalization of corporate governance practices influence the risk of European CEOs being dismissed. We argue that the harsh monitoring of the American corporate governance system spills over to the rest of the world as a result of this globalization. We focus on direct...
Persistent link: https://www.econbiz.de/10008562416
Despite the global reach of their commercial activities, many multinational firms have proved slow in internationalizing their boards of directors. Based on a panel study of the internationalization of the boards of 347 non-financial firms from the Nordic countries, we find a higher fraction of...
Persistent link: https://www.econbiz.de/10010818485
(international cross-listing), the market for corporate control (foreign board membership), and the product and service market … of Norwegian and Swedish listed firms we analyze the effects of internationalization as manifest in the capital market …
Persistent link: https://www.econbiz.de/10005645393
find that entrenched managers pay their workers more. For example, our estimates show that CEOs with more control rights … with an agency model in which entrenched managers pay high wages because they come with private benefits, such as lower … governance of large public firms and labor market outcomes. …
Persistent link: https://www.econbiz.de/10005645442
corporate income tax and household taxes on dividends and capital gains. The first part of the paper presents the model of a … their nominal values as the firm observes them on the capital market. <p> We then analyze the net real cost of capital …, where market rates of return are adjusted for inflation. This makes it possible to determine the net effects of inflation on …
Persistent link: https://www.econbiz.de/10011019062
The constraint on informal finance is commonly taken to be high costs and limited supply. But the majority of informal investors – family and friends – is often willing to supply funds at negative returns, and yet many borrowers tap family and friends only as a last resort. We explain this...
Persistent link: https://www.econbiz.de/10010581013
This paper shows that the liberalisation of foreign direct investment (FDI) tends to make the effect of labour costs on domestic investment and labour demand more negative. Using data from Germany, it then provides evidence that is consistent with this view. First, high unit labour costs...
Persistent link: https://www.econbiz.de/10010600209
venture capital market in the US to Sweden. Our literature survey underscores that the legal environment, financial market … development, the tax system, labor market regulations, and public spending on research and development correlates with venture … an active venture capital market in Sweden compared to the US. In particular, a later development of financial markets …
Persistent link: https://www.econbiz.de/10010945002
No abstract.
Persistent link: https://www.econbiz.de/10010685050
economists there have been primarily three explanations for the fast productivity growth in 1995–2004: Market reforms, recovery …
Persistent link: https://www.econbiz.de/10008528482