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Public Financial Institutions in Developed Countries; Organization and Oversight
Ratnovski, Lev; Narain, Aditya - International Monetary Fund (IMF) - 2007
, regulatory capacity, and government accountability and effectiveness, may be required in developing countries. Further investment …
Persistent link: https://www.econbiz.de/10005826304
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Contingent Capital; Economic Rationale and Design Features
Pazarbasioglu, Ceyla; Zhou, Jian-Ping; Leslé, Vanessa Le; … - International Monetary Fund (IMF) - 2011
The causes of the global financial crisis were multi-faceted but revealed still unresolved weaknesses in national and international financial oversight and resolution frameworks. In particular, many governments in the crisis-hit countries had to provide unprecedented levels of support to contain...
Persistent link: https://www.econbiz.de/10011245888
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Introducing Social Capital Value Add: Manifesto for New Social Network Structural Management of Corporate Value
Michael, Cayley - Volkswirtschaftliche Fakultät, … - 2008
enterprise of social capital to value based management and the priorities of marketers. A plausible SCVA valuation method is …
Persistent link: https://www.econbiz.de/10005619665
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A corporate governance explanation of the A-B share discount in China
Tong, Wilson H.S.; Yu, Wayne W. - In: Journal of International Money and Finance 31 (2012) 2, pp. 125-147
B-shares listed in China are traded at substantial discounts to their corresponding A-shares although they have identical rights. We offer a governance explanation and suggest that relative to domestic investors, foreign investors care more about a firm’s governance quality. Results are...
Persistent link: https://www.econbiz.de/10010869438
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Asymmetry between insiders and outsiders: Aspects of valuation duality
Bukhvalov, Alexander V. - Graduate School of Management, St. Petersburg State … - 2008
The paper deals with a modification of CAPM, which takes into account distinction between insiders as agents who actually determine the managerial decisions in the company, and outsiders, which are identifi ed as all other investors who do not have direct infl uence on managerial decisions. This...
Persistent link: https://www.econbiz.de/10008458652
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Corporate Stability and Economic Growth
Durnev, Art; Kim, E. Han - William Davidson Institute, University of Michigan - 2003
interact with legal environment; and the relation between firm valuation and corporate governance. A simple model, in which a …
Persistent link: https://www.econbiz.de/10005784593
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Quality of governance and bank valuation in Russia: An empirical study
Bokov, Vassily; Vernikov, Andrei - Volkswirtschaftliche Fakultät, … - 2008
This paper aims at explaining the differences in valuation of banking firms in Russia from a quality of governance … what price. We use price-to-book-value of equity (P/BV) multiple as standard measurement of valuation and the dependent … differences in valuation. We discover that external investors attach value to high concentration of ownership, sheer size of the …
Persistent link: https://www.econbiz.de/10005042720
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To Steal or Not to Steal: Firm Attributes, Legal Environment, and Valuation
Durnev, Art; Kim, E. Han - Center for Economic Institutions, Institute of Economic … - 2004
Data on corporate governance and disclosure practices reveal wide within-country variation that decreases with the strength of investors' legal protection. A simple model identifies three firm attributes related to that variation: investment opportunities, external financing, and ownership...
Persistent link: https://www.econbiz.de/10005045198
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Does Corporate Governance Really Predict Firms’ Market Values in Emerging Markets? The Case of Russian Banks
Vernikov, Andrei - National Research University Higher School of Economics - 2013
This paper aims to add to the literature on the connection between corporate governance and company valuation …
Persistent link: https://www.econbiz.de/10010733699
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Corporate Governance, Commitment to Business Ethics, and Firm Valuation: Evidence from the Korean Stock Market
Pae, Jinhan; Choi, Tae - In: Journal of Business Ethics 100 (2011) 2, pp. 323-348
Persistent link: https://www.econbiz.de/10009150451