Purpose: This study introduces Social Contribution Value per Share (SCVPS), an indicator devised by the Shanghai Stock Exchange (SSE), as an easy-to-interpret Measurement of Corporate Social Performance (MCSP) to the international research arena. The authors first explore the informativeness...

This study investigates the governance role of a country’s legal and extra-legal institutions in explaining the variations in firms’ cost of equity capital induced by concentrated ownership structures from 21 countries. Using four implied cost of equity proxies, the results show that the...

This paper addresses interrelation of corporate governance mechanism and income-increasing earnings management from a banking perspective. Specifically, it investigates the impact of Hong Kong Corporate Governance Code (measured by board and audit committee characteristics) on earnings...

In this study, we examine international differences in firms' cost of equity capital around the world. Specifically, we investigate whether the effectiveness of labor protection regulations is systematically related to firms' cost of equity capital and how the presence of controlling...