An income trust is an entity whose securities entitle the holder to the net cash flows generated by an underlying business or income-producing property owned by the trust or another entity. Income trusts are reportedly more tax efficient than common equity firms. Following what some observers...

Canada is an interesting laboratory to study the law governing related party transactions because of the distinctive features of its capital markets and its regulatory landscape. The ownership structure of Canadian corporations resemble more closely those of continental Europe and South East...

The impact of regulatory competition on the evolution of corporate law has generated an intense and long lasting debate in the United States. Although both federal and provincial legislators can enact corporate statutes which can be used by firms across the country, Canadian corporate law has...

Stock exchanges are an important determinant of the competitiveness of Canadian capital markets. Regulators have recognized this fact when they have approved the consolidation of Canadian stock exchanges in 1999. The specialization of stock exchanges purported to enable them to cater more...

The theory of law and finance proposed by La Porta et al. (1998) predicts that minority controlled ownership structures, i.e. the structures that allow voting rights to exceed cash-flow rights, are more frequent in legal contexts where investors are not well protected against the expropriation...

Purpose – The purpose of this paper is to investigate the relationship between corporate governance practices or mechanisms and firm value, as measured by accounting and market data. Design/methodology/approach – Partial least square analyses were performed on a sample of 355 observations...