This study investigates the effects of CEO succession on the stock and Þnancial performance of large publicly held corporations over the years 1977-1994. Using a market signaling framework, this study examines how the stock market responds to the expected Þnancial performance of the Þrm at...

This study investigates the effects of CEO succession on the stock and Þnancial performance of large publicly held corporations over the years 1977-1994. Using a market signaling framework, this study examines how the stock market responds to the expected Þnancial performance of the Þrm at...

The authors theoretically develop and empirically estimate a preference model determining foreign aid donor behavior. Aid access and levels are separately determined by endogenous budgetary allocations, the international economic environment, the distribution of income between countries, basic...

Existing literature on the evaluation of the economic consequences of board reforms has some limitations including: their estimation results fail to show the causal effects of the regulatory reforms; they have limited policy implications for an economy where family businesses are dominant; and...

We examine the relationship between globalization, corporate governance and firm productivity. The results, using longitudinal data from Korea, indicate that the positive effect of liberalising equity ownership on firms’ total factor productivity (TFP) was reinforced by indirect managerial...

We examine the role of both the volatility and levels of exchange rates in the determination of multinational enterprises' (MNEs) investments using a unique Korean dataset. These data provide a natural laboratory due to the Korean experience of a severe financial crisis in the late nineties. We...