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Corporate governance indices and construct validity
Black, Bernard S.; Carvalho, Antonio Gledson de; … - In: Corporate governance : an international review 25 (2017) 6, pp. 397-410
Persistent link: https://www.econbiz.de/10011848222
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The effect of board structure on firm value : a multiple identification strategies approach using Korean data
Black, Bernard S. (contributor); Kim, U-chʾan (contributor) - 2011
Outside directors and audit committees are widely considered to be central elements of good corporate governance. We use a 1999 Korean law as an exogenous shock to assess how board structure affects firm market value. The law mandates 50% outside directors and an audit committee for large public...
Persistent link: https://www.econbiz.de/10011485662
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Does Corporate Governance Predict Firms' Market Values? Evidence from Korea
Black, Bernard S. - 2012
Persistent link: https://www.econbiz.de/10013104450
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Which Aspects of Corporate Governance Do and Do Not Matter in Emerging Markets
Black, Bernard S. - 2019
Well-constructed, country-specific “corporate governance indices” can predict higher firm values in emerging markets. However, there is little credible research on which aspects of governance drive that overall relationship. We study that question across four major emerging markets (Brazil,...
Persistent link: https://www.econbiz.de/10012904310
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The Effect of Corporate Governance on Firm Market Value and Profitability : Time-Series Evidence from Turkey
Ararat, Melsa - 2018
We study the corporate governance practices of Turkish public firms from 2006 to 2012, relying on hand-collected data covering the vast majority of listed firms. We build a Turkey Corporate Governance Index, TCGI, composed of subindices for board structure, board procedure, disclosure,...
Persistent link: https://www.econbiz.de/10012936664
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Corporate Governance, Business Groups, and Market Value : Time-Series Evidence from Turkey
Ararat, Melsa - 2014
Business groups play a large, sometimes dominant economic role in many countries. A number of studies find an association between firm-level corporate governance and market value, but none study the role of business group identity in firm level corporate governance or the value of “group...
Persistent link: https://www.econbiz.de/10013063726
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Online Appendix for Black, de Carvalho, Kim, and Yurtoglu 'How Useful are Commercial Corporate Governance Ratings? Evidence from Emerging Markets'
Black, Bernard S.; De Carvalho, Antonio Gledson; Kim, … - 2023
A central issue in evaluating the effects of firm-level corporate governance (FLCG) is how to measure it. We focus here on emerging markets (EMs). One common approach to measuring FLCG uses country-specific (CSIs), tailored to each country’s laws and institutions. Several studies report that...
Persistent link: https://www.econbiz.de/10014254555
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Friendly Takeover Offers for Public Corporations : Interim Uncertainty, Reserve Prices, and Bustup Fees
Black, Bernard S. - 2012
deal's final approval by target shareholders: a month for a takeover with a first step cash tender offer, longer for a … merger. During this time target values may change, perhaps dramatically. While a target can accept new bids if its value … significant premium to the target's prior market price. Prior models of takeover bidding ignore the law-induced delay and …
Persistent link: https://www.econbiz.de/10013109025
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The Corporate Governance Behavior and Market Value of Russian Firms (Russian Version)
Black, Bernard S. - 2003
I examine the relationship between corporate governance behavior and market value for a sample of 21 Russian firms. I use (1) fall 1999 corporate governance rankings for these firms, developed by a Russian investment bank, and (2) the "value ratio" of actual market capitalization to potential...
Persistent link: https://www.econbiz.de/10014094590