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Regulation and firm value : curious case of transparency and disclosure laws in Russia

Banerjee, Suman; Masulis, Ronald W.; Pal, Sarmistha - 2016

We provide novel evidence on the effectiveness of mandated changes in Russian transparency and disclosure (henceforth T&D) rules in boosting shareholder welfare. We focus on the staggered implementation of these T&D reforms initiated in 2002 and implemented during 2003-07. Using difference in...

Persistent link: https://www.econbiz.de/10011457931

Does corporate governance reform necessarily boost firm performance? : recent evidence from Russia

Kuznecovs, Mihails; Pal, Sarmistha - 2012

This paper examines whether the introduction of corporate governance (CG) reforms in general and that of transparency and disclosure (T&D) rules in particular can necessarily boost firm performance. Existing literature suggests that CG reforms can boost performance because it can resolve the...

Persistent link: https://www.econbiz.de/10009537271

Corporate disclosure, compliance and consequences : evidence from Russia

Banerjee, Suman; Estrin, Saul; Pal, Sarmistha - 2022

Does the introduction of corporate transparency and disclosure rules in emerging economies affect compliance, and therefore earnings quality and firm performance? We explore these questions for an important emerging economy, Russia, using a natural experiment, the 2002 introduction of Russian...

Persistent link: https://www.econbiz.de/10013163548

Gender diversity, labour in the boardroom and gender quotas

Kunze, Astrid; Scharfenkamp, Katrin - 2022

This study investigates boards of (non-executive) directors and whether employee representation has a positive effect on gender diversity on boards. We exploit rich, newly assembled board-director matched panel data for Norway and Germany, which contain unique information on whether a director...

Persistent link: https://www.econbiz.de/10013448441

Ownership and pay in Britain

Pendleton, Andrew; Bryson, Alex; Gospel, Howard F. - 2015

Drawing on principal-agent perspectives on corporate governance, this paper examines whether employees' hourly pay is linked to ownership dispersion. Using linked workplace-worker data from the British Workplace Employment Relations Survey (WERS) 2011, we find average hourly pay is higher in...

Persistent link: https://www.econbiz.de/10011307884

Executive compensation, firm performance, and corporate governance in China : evidence from firms listed in the Shanghai and Shenzhen stock exchanges

Kato, Takao (contributor); Long, Cheryl (contributor) - 2005

This paper provides evidence on how executive compensation relates to firm performance in listed firms in China. Using … comprehensive financial and accounting data on China's listed firms from 1998 to 2002, augmented by unique data on executive … cash compensation (salary and bonus) for top executives with respect to shareholder value in China. In addition, sales …

Persistent link: https://www.econbiz.de/10003225948

Retained state shareholding in Chinese PLCs : does government ownership reduce corporate value?

Tian, Lihui (contributor); Estrin, Saul (contributor) - 2005

The role of government shareholding in corporate performance is central to an understanding of China's newly privatized …

Persistent link: https://www.econbiz.de/10002603937

Ownership or performance : what determines board of directors' turnover in Italy?

Brunello, Giorgio; Graziano, Clara; Parigi, Bruno - 2000

This paper studies the turnover of board of directors members in a sample of 72 companies listed on the Milan Stock Exchange during the period 1988-1996. We investigate whether board members change more frequently when company performance is poor, as the literature suggests, and whether and how...

Persistent link: https://www.econbiz.de/10011318600

Legal corruption, politically connected corporate governance and firm performance

Domadenik, Polona; Prašnikar, Janez; Švejnar, Jan - 2014

In this paper we present and test a theory of how political corruption, found in many transition and emerging market economies, affects corporate governance and productive efficiency of firms. Our model predicts that underdeveloped democratic institutions that do not punish political corruption...

Persistent link: https://www.econbiz.de/10010381906

Voice at work

Harju, Jarkko; Jäger, Simon; Schoefer, Benjamin - 2021

We estimate the effects of worker voice on job quality and separations. We leverage the 1991 introduction of worker representation on boards of Finnish firms with at least 150 employees. In contrast to exit-voice theory, our difference-in-differences design reveals no effects on voluntary job...

Persistent link: https://www.econbiz.de/10012484549

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