Using an extensive panel of cross-border M&A transactions between 1990 and 2007, we find that firms from developing countries, compared with those from developed countries, bid higher on average to acquire assets in developed countries. We are interested in why these higher bids occur. We find...

As shown in the international business literature, the ability of controlling owners to extract private benefits is greater in countries with weaker legal institutions. In these countries, providing credible financial information could play an especially important role in reducing information...

This article provides a comprehensive assessment of private firms' financing sources and their relation with financial reporting practices. We consider debt financing (bank financing, leasing, and government guarantees), equity financing (family ownership, government ownership, employee...