We study non-U.S. companies that have used reverse mergers as a means to adopt U.S. corporate law (and sometimes U.S. securities law as well). Early adopters of cross-border reverse mergers and those firms that hired a Big Four auditor exhibited superior corporate governance outcomes. Later...

Access to state-controlled resources can be a major source of firm-level competitive advantage. However, we know little regarding which firms are most likely positioned to capture the state and access resources beyond what their rule-complying merits command. This is partially due to the...