We examine the impact of the international diversification by banks on the value of their advice in 1,705 cross-border merger and acquisition transactions. We find that bidders engaging internationally diversified advisors face lower announcement returns. A one standard deviation increase in...

This chapter surveys the theoretical and empirical research on the main mechanisms of corporate law and governance, discusses the main legal and regulatory institutions in different countries, and examines the comparative governance literature. Corporate governance is concerned with the...