We study the impact of corporate governance frictions in an economy where growth is driven both by the foundation of new firms and by the in-house investment of incumbent firms. Firms' managers engage in tunneling and empire building activities. Active shareholders monitor man- agers, but can...

This study explored ownership structure and corporate governance and its effects on performance of firms in Kenya with reference to banks. The study revealed that there was no significant difference between type of ownership and financial performance, and between banks ownership structure and...

There are many studies demonstrating how good corporate governance positively affects the economic-financial performance of companies, but few which examine the relationship between corporate governance and cost of equity capital. These mainly focus on multiple industries, and suggest that there...

This study is based on the premise that mostly large enterprises require investment banking services, due to their complexity and the difficult scenarios in which they operate. Accordingly, we empirically investigate the hypothesis that both the type of ownership structures and the quality of...

Nowadays, developing the opinion of anti-corporation has formed a large part of biases and social judgments of the management science. Among these, because of performance of some companies and managers, the attention to the ethical issues in the field of theorizing and management practices has...

Corporate governance is the system through which companies are directed and controlled but until today academic environment, regulators, corporations couldn’t reach a unanimous definition. Corporate governance provisions suffered changes after several largely covered financial scandals....

This paper empirically and critically investigates the issue of creative accounting in financial reporting. It not only analyzes the ethical responsibility of creative accounting but also focuses on other factors which influence the financial reporting like role of auditors, role of government...

In this paper, we use a unique natural experimental setting to examine the market value of both voluntary and mandatory independent director appointments using a sample of Taiwanese listed firms. We find a significantly positive stock price reaction when a firm announces it is appointing...

The aim of this study is to research the influence of ownership structure on firm value in order to provide, from our knowledge, the first results for the case of the Bucharest stock exchange listed companies. Therefore, we have considered the shareholdings of the following types of...

Financial scandals of the last decade have had a negative effect upon the trust and perception of investors regarding auditor responsibility and their part in fraud and error detection. As a result of legal conditions and regulations, audit firms in some jurisdictions have recently started to...