In this paper we investigate the causal relationship between ultimate shareholder's cash-flow rights and firm valuation performance for some Asian countries. More precisely, we test the incentive effect hypothesis. Using data for 1,740 publicly listed non-financial firms from eight Asian...

The cross-sectional share price variation in eight East Asian markets before, during and after the 1997 Asian financial crisis is examined. The paper also studies whether firms in these markets correct their share prices to the optimal trading range using stock splits. The results vary across...

In this paper we investigate the causal relationship between ultimate shareholder's cash-flow rights and firm valuation performance for some Asian countries. More precisely, we test the incentive effect hypothesis. Using data for 1,740 publicly listed non-financial firms from eight Asian...

The cross-sectional share price variation in eight East Asian markets before, during and after the 1997 Asian financial crisis is examined. The paper also studies whether firms in these markets correct their share prices to the optimal trading range using stock splits. The results vary across...

This book analyzes the status of the markets in Latin America and identifies the technical, political, and financial challenges to building vibrant capital markets and increasing the efficiency benefits of regional economic and financial integration.

This paper presents a simple framework in order to analyze different corporate governance mechanisms and their impact on firm structures and performance. Based on recent literature on the subject, the paper discusses the validity of Demsetz’s evolution hy