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The purpose of this paper is to analyze the effects on the Italian directorship network of the corporate governance reform that was introduced in Italy in 2011 to prevent interlocking directorships in the financial sector. Interlocking directorships are important communication channels among...
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We test under what circumstances boards discipline managers and whether such interventions improve performance. We exploit exogenous variation due to the staggered adoption of corporate governance laws in formerly Communist countries coupled with detailed ‘hard’ information about the...
Persistent link: https://www.econbiz.de/10008702077
This paper presents a simple model for dual-class stock shares, in which common shareholders receive both public and private cash flows (i.e. dividends and any private benefit of holding voting rights) and preferred shareholders only receive public cash flows (i.e. dividends). The dual-class...
Persistent link: https://www.econbiz.de/10011523988
Using a data set for 162 largest Hungarian firms during the period of 1994-1999 this paper explores the determinants of equity shares held by both foreign investors and by Hungarian corporations. We find evidence of a post-privatisation evolution towards more homogeneous equity structures, where...
Persistent link: https://www.econbiz.de/10011597686
This paper collects an original database of publicly listed companies to determine prevailing gender ratios among board …
Persistent link: https://www.econbiz.de/10011457937
This paper presents evidence of the effects of gender diversity on firm innovation outcomes and their productivity in … endogeneity issues of women’s participation in STI and innovation behavior. An upward bias of the impact of gender diversity on … innovation might arise because more dynamic and innovative managers, knowing the value of gender diversity, may also hire more …
Persistent link: https://www.econbiz.de/10011882005
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Diversity in gender identity and sexual orientation challenges traditional institutions, social norms, and gendered …
Persistent link: https://www.econbiz.de/10014477228