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Direct and indirect impacts of governance on the value of Brazilian corporations
Lameira, Valdir De Jesus; Walter Lee Ness <suffix>Jr.<; … - In: International Journal of Economics and Business Research 4 (2012) 6, pp. 639-658
This study estimated the quality of governance practices employed by a sample of publicly traded companies in Brazil between 2002 and 2006. It also explored the way quality of governance is related to three variables: risk, performance, and value. The Hausman test showed endogeneity between...
Persistent link: https://www.econbiz.de/10011015145
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Corporate governance, value and performance of firms: New empirical results on convergence from a large international database
Krafft, Jackie; Qu, Yiping; Quatraro, Francesco; Ravix, … - HAL - 2013
This paper aims to revisit the link between corporate governance, value, and firm performance by focusing on convergence, understood as the way that non-US firms are adopting US best practice in terms of corporate governance, and the implications of this adoption. We examine theoretical...
Persistent link: https://www.econbiz.de/10010607938
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Corporate governance, value and performance of firms: New empirical results on convergence from a large international database
Krafft, Jackie; Qu, Yiping; Quatraro, Francesco; Ravix, … - HAL - 2013
This paper aims to revisit the link between corporate governance, value, and firm performance by focusing on convergence, understood as the way that non-US firms are adopting US best practice in terms of corporate governance, and the implications of this adoption. We examine theoretical...
Persistent link: https://www.econbiz.de/10010899028
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Corporate governance, value and performance of firms: New empirical results on convergence from a large international database
Krafft, Jackie; Qu, Yiping; Quatraro, Francesco; Ravix, … - HAL - 2013
This paper aims to revisit the link between corporate governance, value, and firm performance by focusing on convergence, understood as the way that non-US firms are adopting US best practice in terms of corporate governance, and the implications of this adoption. We examine theoretical...
Persistent link: https://www.econbiz.de/10010899761
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CEO Turnover, Firm Performance and Enterprise Reform in China: Evidence from New Micro Data
Kato, Takao; Long, Cheryl - Institute for the Study of Labor (IZA) - 2006
Using comprehensive financial and accounting data on China’s listed firms from 1998 to 2002, augmented by unique data on CEO turnover, ownership structure and board characteristics, we estimate Logit models of CEO turnover. We find consistently for all performance measures including both stock...
Persistent link: https://www.econbiz.de/10005566546
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Blockholder dispersion and firm value
Konijn, Sander J. J.; Kräussl, Roman; Lucas, André - Center for Financial Studies - 2010
This paper analyzes the impact of blockownership dispersion on firm value. Blockholdings by multiple blockholders is a widespread phenomenon in the U.S. market. It is not clear, however, whether dispersion among blockholder is preferable to having a more concentrated ownership structure. To test...
Persistent link: https://www.econbiz.de/10010986382
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The Effects of Ownership Concentration and Origin on Listed Firms’ Value: Empirical Evidence from Romania
Vintila, Georgeta; Gherghina, Stefan Cristian; … - In: Journal for Economic Forecasting (2014) 3, pp. 51-71
This paper aims at exploring the relationship between ownership concentration and firm value by using panel data for firms listed on the Bucharest Stock Exchange (BSE). Additionally, we investigate the influence of ownership origin on firm value. Results drawn from a longitudinal analysis of a...
Persistent link: https://www.econbiz.de/10010938025
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Quality of Governance and the Market Value of Cash: Evidence from Spain
Toledo, Eloisa Perez-de; Bocatto, Evandro - In: The International Journal of Business and Finance Research 7 (2013) 2, pp. 91-104
We examine the value shareholders attribute to one euro of extra cash held by Spanish firms and how corporate governance impacts this value by comparing the value of cash for companies with good and poor governance. The results show that one euro of extra cash is valued at a considerable premium...
Persistent link: https://www.econbiz.de/10010938522
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Do Election Results Affect the Value of Politically Connected Firms? - The Effect of the Schroeder-Merkel Change of Government on German Prime Standard Firms
Janssen, Elmar A. - Fachbereich für Wirtschaftswissenschaften, … - 2014
connected to the Democrats. The present study shows that, contrary to expectations, political connections had little impact on … significant impact of the election results on the returns of companies with political connections with respect to other different … characteristics, there is slight support that connections to the federal parliament are more valuable than those to the state …
Persistent link: https://www.econbiz.de/10010942347
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Investor Protection and Corporate Governance: Firm-level Evidence across Latin America
Bebczuk, Ricardo N.; Silva, André L. Carvalhal da; … - Inter-American Development Bank
'Investor Protection and Corporate Governance' analyzes the impact of corporate governance on firm performance and valuation. Using unique datasets gathered at the firm-level--the first such data in the region--and results from a homogeneous corporate governance questionnaire, the book examines...
Persistent link: https://www.econbiz.de/10010943495