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This paper discusses why a “corporate governance movement” that commenced in the United States in the 1970s became an entrenched feature of American capitalism and describes how the chronology differed in a potentially crucial way for banks. The paper explains corporate governance's...
Persistent link: https://www.econbiz.de/10013061835
The Global Financial Crisis of 2007-2008 has demonstrated the fragility of prevailing corporate governance ideas and the weakness of legal means of minimizing risk and highlighting dangers in major banking corporations. Gatekeeper failure has undoubtedly been a significant contributor to this...
Persistent link: https://www.econbiz.de/10013121820
We study the impact of shareholder-initiated litigation risk on a firm's stock price crash risk. Our empirical analysis takes advantage of the staggered adoption of universal demand laws, which led to an exogenous decline in derivative litigation risk. We find that a decline in the threat of...
Persistent link: https://www.econbiz.de/10013230754
We revisit the research question centering around the impact of the market for corporate control on stock price crash risk. Using a newly-developed takeover index from Cain, McKeon, and Solomon (2017) that comprehensively considers existing state takeover laws, federal statutes, and state court...
Persistent link: https://www.econbiz.de/10013211482
The global financial crisis of 2008 has stimulated the debate on corporate governance and shareholder protection. The intuitive reason for the topicality of shareholder protection is that insolvencies mainly harm shareholders as the companies' residual claimants. In addition, ideally,...
Persistent link: https://www.econbiz.de/10013058465
After the governance crisis of 2001-2003 and the regulatory response through the Sarbanes-Oxley Act and the European corporate governance codes, the financial crisis has revealed persistent governance problems in financial institutions relating to executives, non-executives and shareholders. For...
Persistent link: https://www.econbiz.de/10013117523
This study seeks to investigate the relationship between corporate governance, measured by Corporate Governance Index (CGI), and firm's performance and dividend payouts during the financial crisis in Poland. The empirical approach in the study lies in constructing a comprehensive measures of the...
Persistent link: https://www.econbiz.de/10013100761
, the third part of the paper contains my personal hypothesis which is based on the convergence theory of various scholars …
Persistent link: https://www.econbiz.de/10012940210
This paper examines the relationship between large blockholders and stock price crash risk for the entire population of non-financial companies listed on the Swiss Exchange for the period 2003-2016. The results show that firms held by a large blockholder have a lower firm-specific crash risk...
Persistent link: https://www.econbiz.de/10012865691
Based on a connection between network analysis and B-VAR models, this paper provides a first empirical evidence of the relationships between capital centralization expressed in terms of network control on one hand and monetary policy guidelines and business cycles on the other. Our findings...
Persistent link: https://www.econbiz.de/10012098517