This paper proposes a new approach to quantifying the effects of corporate governance reforms, by focusing on the dynamics of the voting premiums, a measure of the private benefits of control in a corporation. The results indicate that the reforms have been successful in reducing the voting...

This paper investigates the effects of national culture on firm risk-taking, using a comprehensive dataset covering 50,000 firms in 400 industries in 51 countries. Risk-taking is found to be higher for domestic firms in countries with low uncertainty aversion, low tolerance for hierarchical...

This technical note on Investor Protection, Disclosure, and Financial Literacy for Portugal explains investor protection and corporate governance. Comissão do Mercado de Valores Mobiliários (CMVM) is the regulator in charge on ensuring compliance with disclosure issues as well as the corporate...

This study reviews selected issues on investor protection and corporate governance in Australia, and concludes that the corporate governance framework for Australian-listed companies is largely healthy and dynamic. Shareholder activism is an important element of corporate governance because it...

This technical note assesses the reform of Spanish savings banks (SSBs). It provides a brief overview of the SSB institutional framework before the reform, and describes the main factors that led to the financial distress, albeit uneven, of the SSB sector. The note outlines major regulatory and...

The concept of corporate governance has emerged in the last century, but its significance and objectives are part of the recent phenomenon in most countries. The concept continues to be constantly adapting to the requirements of a modern economy under significant impact of globalization as a...

В статье представлено исследование путей совершенствования российской практики корпоративного управления с учетом передового зарубежного и отечественного...

Recent studies of the innovation process have viewed it as the outcome of organizational dynamics rather than as the product of technological developments exogenous to the governance of firms. We apply this approach to our examination of British coastal shipping companies during the early...

Purpose – Where there has been little in-depth understanding of sovereign wealth funds, the purpose of this paper is to describe the complex nature of one of the world's largest sovereign wealth funds, Temasek Holdings (“Temasek”), whose “active” investment strategy has been emulated...