Corporate Governance relates to mechanisms through which providers of resources to the firm get their share of resources in return. Adequate governance practices help develop capital markets and assist market forces in attaining efficient contracts. Convincing evidence exists that well developed...

The paper presents the actual ownership structure of public companies in Bulgaria on the basis of a survey of 104 of the companies traded on the Bulgarian Stock Exchange. It discusses as well the problems of disclosure of ownership information, focusing on the transposition of the EC Large...

It is widely argued that foreign investment is a mechanism for improving corporate governance in emerging markets. The results of this paper, which uses firm-level data on 365 Thai firms, challenge this conventional wisdom. A firm-specific index of the quality of corporate governance is...

Most pre-crisis explanations of the various corporate governance systems have considered the separation between ownership and control to be an advantage of the Anglo-American economies. They have also attributed the failure of other countries to achieve these efficient arrangements to their...

This paper tests the hypothesis that the threat of a contested <p> takeover improves corporate performance. This is done by a cross-sectional <p> analysis of listed Danish firms with and without effective takeover defenses. <p> Takeover defenses adopted by Danish firms mainly consist of dual class <p>...</p></p></p></p>

The article studies how takeover defenses influence managerial <p> incentives with respect to long term investments, excess liquidity and the amount of <p> debt relative to equity. The article conducts a cross-sectional regression based on a <p> sample of Danish listed firms, dealing explicitly with the...</p></p></p>