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This paper studies the relationship between firms' corporate governance quality and information content of stock trades. Following Hasbrouck (1991) method, a trade's information content is defined as persistent impact of trade innovation on stock price. Using firm-level governance data, we show...
Persistent link: https://www.econbiz.de/10010938528
Corporate governance has become increasingly important in developed and developing countries just after a series of corporate scandals and failures in a number of countries. Corporate governance structure is often viewed as a means of corporate success despite prior studies reveal mixed,...
Persistent link: https://www.econbiz.de/10010680916
We use agency theory to explore how analyst coverage is influenced by the managerial entrenchment associated with the staggered board. The evidence suggests that firms with staggered boards attract significantly larger analyst following. We also document that firms with staggered boards...
Persistent link: https://www.econbiz.de/10010580921
does not receive support in the ownership but the indicator of voucher privatization supports it. The initial conditions … from early 90's were not the driving the financial distress. The voucher-scheme privatization results in poorer corporate …
Persistent link: https://www.econbiz.de/10005784676
We reassess the effects of family ownership and strong family control on non-family minority and non-controlling shareholders. We argue that assumptions and interpretations regarding the cost and benefits of family ownership in the extant literature need to be understood relative to other firm...
Persistent link: https://www.econbiz.de/10010574901
Abstract: There is by now a vast literature on how institutional environments affect corporate investments. Much of this literature centres on corporate governance structures and the broader legal environment in which firms operate. This paper conducts a comparative analysis of three countries...
Persistent link: https://www.econbiz.de/10011106042
Persistent link: https://www.econbiz.de/10005674400
Whereas research in privatization generally adopts a macroeconomic or political perspective, organizational and … and strategy relate to the use of management compensation systems after privatization. A multiple-case study in five … in monitoring do not suffer from variation after privatization. Second, the interests of the new firms’ ownership have an …
Persistent link: https://www.econbiz.de/10010942774
'Privatization in Latin America' evaluates the empirical evidence on privatization in a region that has witnessed an … provide a comprehensive analysis of the record of and accusations against privatization, with important recommendations for … will be vital to anyone interested in the privatization debate but especially to those involved in civil service reform …
Persistent link: https://www.econbiz.de/10010943619
, and the privatization of state-owned enterprises. We hope that our cyclical model can promote researchers to develop a …
Persistent link: https://www.econbiz.de/10010959331