By reducing the fear of a hostile takeover, business combination (BC) laws weaken corporate governance and create more … consistent with the general notion that competition mitigates managerial agency problems, our results are, in particular … competitive industries. When we examine which agency problem competition mitigates, we find evidence consistent with a “quiet …

governance, while firms in non-competitive industries--where lack of competitive pressure fails to enforce discipline on managers …--should benefit relatively more. Whether we look at the effects of governance on long-horizon stock returns, firm value, or operating … performance, we consistently find the same pattern: The effect is monotonic in the degree of competition, it is small and …

; corporate governance; market structures and competition; and financial constraints. We conclude that private ownership and …

and good governance tend to reinforce each other rather than act as substitutes. Competition has no significant effect on …In this Paper we analyse the impact of product market competition and ownership structure on corporate performance. We … the separate effects of competition and ownership concentration on firm level productivity growth. Next, we investigate …

corporate governance systems. In our paper, optimal corporate governance depends on both firm characteristics and the … composition of the outsiders' overall portfolio. A strong governance system is desirable when the value of the firm's assets in … place, relative to the growth opportunity, is sufficiently small or is sufficiently large, suggesting a corporate governance …

prices. The paper derives a range of new cross-sectional comparative static results and sheds light on corporate governance …

We shed new light on the corporate governance role of institutional investors in markets where concentrated ownership … shareholders, can play only a limited role in corporate governance. Moreover, the presence of powerful families who control many … governance, what matters most is not the legal power granted to minority shareholders but rather the absence of conflicts of …