This study aims to identify the board of directors' characteristics affecting commercial banks' performance in Vietnam. The paper is based on the data collected over eleven years (2010-2020) for a set of 35 Vietnamese commercial banks listed on the stock market. The author explores the board of...

Despite the crucial roles of institutional investors in corporate governance mechanisms, there is little empirical evidence regarding the impact of institutional ownership on firm value in Thailand. This paper examines the relationship between institutional shareholdings and firm value in a...

In this study I use a large sample of quarterly changes in equity holding by institutional investors and find strong evidence that the functions of institutional investors which were missing in India (Khanna and Palepu, 2000) are taking shape as external controllers of corporate governance. I...

In emerging markets, the deviation between the ultimate controlling shareholders' voting rights and their cash flow rights (hereafter “DVC”) in the listed firms is quite prevalent. DVC could be introduced due to the ultimate controlling shareholders' opportunistic incentives, as well as by...

Using the Ordinary Least Square (OLS) estimation technique based on a sample of 180 listed firms from 2008 to 2018, this study investigates the impact of institutional ownership on firm performance in the Bangladeshi setting. Consistent with the "active monitoring" view, the results indicate...

Regulators and shareholders are calling for independent directors. Independent directors, however, have numerous external professional commitments. Using To- bin's Q as an approximation of market valuation and controlling for endogeneity, our empirical analysis reveals that neither external...

The study seeks to examine the effect of equity ownership structure on firm financial performance in South Korea. I focus on the role of two main dimensions of the ownership structure: Ownership concentration (i.e., the distribution of shares owned by majority shareholders) and identity of...

This paper examines how the distribution of target ownership is related with takeover premium in owner-manager dominant acquisitions, in which a firm is managed by managers and directors nominated and directed closely by controlling shareholders. We find that there exists the agency problem...

We examine the knock-on effect of credit rating changes in Korean Chaebol. We show that credit rating changes of chaebol-affiliated firm share the effect of credit rating change with related affiliates because: (1) chaebol affiliates share their internal capital markets and (2) chaebol...