We conduct an experiment to examine how lending decisions are affected by lender perceptions of reporting and governance quality. We perform a set of experiments to determine whether lenders are sensitive to the quality of governance as measured by board composition along multiple dimensions,...

Apart from an extensive survey of the literature on the economics of corporate bankruptcy law, this thesis contains three own contributions: First, a model is presented where a firm's manager acquires some private information about whether a firm should be liquidated or stay in business....

This paper studies the incentives for transparency under different forms of corporate governance in a context of product market competition. This paper endogenizes the governance and financial structure of firms and determines a strategic decision on the degree of transparency in a context of...

This Paper studies the incentives for transparency under different forms of corporate governance in a context of product market competition. This Paper endogenizes the governance and financial structure of firms and determines a strategic decision on the degree of transparency in a context of...

This paper studies optimal financial contracts and product market competition under a strategic transparency decision. When firms seeking outside finance resort to actively monitored debt in order to commit against opportunistic behaviour, the dominant lender can influence corporate...

This thesis employs data from 34,222 firms in 47 countries from 1987 to 2009, which corresponds to 248,156 firm year observations. Inspired by recent stock price crash risk studies, this thesis differentiates stock price crash risk from traditional stock price risk in explaining capital...

Hintergrund der Untersuchung ist die zunehmende Bedeutung von Humankapital als wettbewerbsentscheidendem Produktionsfaktor in modernen humankapitalintensiven Unternehmungen. Es stellt sich die Frage nach den Auswirkungen der Bedeutungszunahme und der Regelung des „Primärhumankapitals“, also...

Corporate Governance has engaged the attention of academics and practitioners alike for some time now. It is sad to note, however, that most of the studies carried out in this area have been conducted in countries such as the USA and the UK. In recent times, interest in Corporate Governance on...

The study verifies, between march 2005 and march 2006, if there is any difference between the stock yields of a sample of companieslisted in Bovespa that adopt the principles of Corporate Governance, in different levels, in relation to the companies of the traditionalmarket. The data were...

Executive pay research has traditionally focused on salary, severance payments and longtermincentives. A systematic rigorous empirical examination of short-term annualbonuses is lacking. To address this omission, this research empirically examines therelationship between short-term bonuses and...