This paper examines whether a bank exercises a monitoring role when a banker is represented on a firm’s board. Bank monitoring reduces information asymmetries, and hence lessens firm’s financial constraints—phenomenon frequently measured by investment-cash flow sensitivity in the sample of...

This article investigates the gender diversity of the corporate board of European Union banks. Employing a large sample of 612 European banks from 20 European countries, it identifies organizational characteristics that could be predictive of women’s presence on bank boards. We identify three...

The Russian corporate governance has evolved since the 1998 financial crisis. The author examines both normalization and preservation in the corporate structure, which can simultaneously be observed in the adaptation of Russian enterprises. The Russian corporate governance reflects the unique...

Dividend policy is one of the most intriguing topics in financial research. Even now, economists provide considerable attention and thought to solving the dividend puzzle, resulting a large number of conflicting hypotheses, theories and explanations. This paper aims to determine the dividend...

The current paper studies the impact of board gender-diversity on firm risk-taking in a developing market. Our study is drawn on a sample of 30 Tunisian listed firms between 1997 and 2010. First, we found that women have a risk perception that leads to a risk avoidance behavior: the presence of...

The object of this contribution is to address the question of the ownership of the firm. Both law and economics shape representations of the world: law focuses on rules and justice; economics focuses on efficiency and allocation. They describe common situations and "objects'' such as firms and...

In the theoretical framework of corporate governance this article studies the efficiency of the control exerted by the ownership structure and the board of directors on managers. The confrontation of entrenchment theory and agency theory allows to determine the necessary conditions of the...

Prior empirical research finds positive, negative and neutral relationships between family involvement in business and firm performance. We argue that some of the challenges that have plagued empirical research in this field are related to the measurement of family involvement in business....

This paper aims to examine the effect of many ownership features on firm's disclosure quality using the theoretical framework of the agency theory, which states that investors information demand increases with agency costs of the firm. Public ownership increases agency costs and therefore should...

Although recent research documents a positive relation between corporate transparency and the proportion of independent directors, the direction of causality is unclear. We examine a regulatory shock that substantially increased board independence for some firms, and find that information...