We examine whether differences in investment opportunities and corporate ownership structure can explain the disparate findings of other researchers regarding the market's price reaction to the announcement of international joint ventures. We study a sample of 320 such ventures from the period...

We test the effectiveness of internal corporate governance systems by examining the replacement of founder CEOs at poor performing firms. Managerial entrenchment in these firms is expected to constrain the effectiveness of external corporate governance through the market for corporate control....

One of the perks of reaching the end of a long career in the academy is that you develop an appreciation for how the body of knowledge in your discipline evolves over time. What many of us come to realize that progress can it be painfully slow and at times circuitous. In fact, it is often the...