Using staggered board reforms as a quasi-natural experiment and a difference-in-differences approach, this study examines the impact of corporate governance on cash holdings in 41 countries. We find that board reforms are followed by significant reductions in cash holdings. This effect is more...

Using a sample of cross-listed firms from 51 countries and a difference-in-differences approach that exploits corporate governance shocks induced by cross-listing in the U.S., we find that firms tend to engage in less tax avoidance after cross-listing. This effect is more pronounced for firms...

Building on Desai and Dharmapala’s (2006) complementarity theory on the relation between tax avoidance and insider diversion, we contribute to international research by examining the importance of tax avoidance to equity pricing, and the role that institutional environments play in shaping...