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Investment Financing in Russian Financial-Industrial Groups
Perotti, Enrico C.; Gelfer, Stanislav - 1998
We study whether Russian Financial-Industrial Groups facilitate access by Russian firms to investment finance. We … control set of large firms categorized by dispersed ownership or/and management and employee control. We find that investment … reallocation hide opportunistic value transfer across firms. Specifically, we assess the quality of the investment process in group …
Persistent link: https://www.econbiz.de/10009477477
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Corporate gobernance and corporate ownership : the investment behaviour of japanese institutional investors
Altunbaş, Yener; Kara, Alper; Rixtel, Adrian van - 2007
Incluye bibliografía ; In this paper, we investigate the investment behaviour of institutional investors in terms of …
Persistent link: https://www.econbiz.de/10012529489
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Ownership concentration & firm performance: Evidence from an emerging market
Grosfeld, Irena - 2006
The initial view of the advantages of ownership concentration in joint stock companies was determined by the concern about the opportunistic managerial behavior. The growing importance of knowledge and human capital in the operation of firms shifts the focus of concern: excessive ownership...
Persistent link: https://www.econbiz.de/10009476880
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Cross-Listing, Close Bank-Firm Relationships and Ownership Structure: Empirical Evidence on Corporate Governance Mechanisms
Korczak, Adriana - 2006
and consequently foster investment. This study empirically examines the influence of close bank-firm relationships as a … corporate governance mechanism on liquidity sensitivity of investment of German manufacturing firms. The empirical evidence … shows that close bank-firm relationships reduce the firm’s liquidity sensitivity of investment. Investments in firms with …
Persistent link: https://www.econbiz.de/10009460742
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Ownership, control and firm performance in Europe
Tong, Guanqun - 2010
This study is motivated by one of the most prevalent properties of modern corporations: separation of ownership and control. Ownership concentration has been one of the corporate governance mechanisms to solve the agency problem between shareholders and management. Existing literature is mainly...
Persistent link: https://www.econbiz.de/10009461307
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Earnings quality and corporate governance following the implementation of Malaysian code of corporate governance
Wan Ismail, Wan Adibah; Dunstan, Keitha; van Zijl, Tony - 2010
This paper investigates the association between corporate governance mechanisms and earnings quality after the implementation of the Malaysian Code of Corporate Governance in 2001. Using 1625 firm-year observations during the period 2003-2007, we tested whether corporate governance variables are...
Persistent link: https://www.econbiz.de/10009441684
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Do accounting and finance tools serve governance?
Ariff, Mohamed; Ratnatunga, Janek - 2008
A brief review of recent literature on corporate governance is provided, which is then concluded with a proposed corporate governance framework as a starting point for further development. We propose that it is stakeholder concentration that determines the quality of corporate governance. Next...
Persistent link: https://www.econbiz.de/10009441761
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Independent Directors and the Propensity to Pay Dividends
Sharma, Vineeta - 2011
Using data from 944 public companies in 2006, I examine how a firm''s propensity to pay dividends is related to (i) board independence and (ii) independent directors'' tenure, number of board seats (busy) and equity incentive compensation. After controlling for the effects of traditional...
Persistent link: https://www.econbiz.de/10009459047
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The Effect of Governance on Credit Decisions and Perceptions of Reporting Reliability
Holder-Webb, Lori; Sharma, Divesh S. - 2010
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,...
Persistent link: https://www.econbiz.de/10009459049
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Two essays on corporate finance
Parrino, Robert (contributor) - 2010
governance structure enhances firm value by mitigating the over-investment problem.Essay two examines how insider trading … activity prior to seasoned equity offerings (SEOs) is related to subsequent investment, operating, and financing decisions of … investment opportunities. Insider trading activity prior to the SEO provides valuable information about the firm’s incentives to …
Persistent link: https://www.econbiz.de/10009429353