Cumming, Douglas; Fleming, Grant; Johan, Sofia; Najar, Dorra - Université Paris-Dauphine (Paris IX) - 2013
evidence across most studies is broadly consistent with the view that legal protection enables superior compensation … countries, by contrast, have less efficient compensation structures. The evidence further indicates that better legal systems … returns, suggesting that fund managers are able to alleviate the effects of corruption in investee companies. In our …