Showing 1 - 10 of 5,507
We model corporate governance in a world with competitive securities markets as well as markets for corporate assets …
Persistent link: https://www.econbiz.de/10011004172
We model long-run firm performance, management compensation, and corporate governance in a dynamic, nonstationary world ….  We show that managerial compensation and governance policies, which, in a single-period context, can best be rationalized … example, shareholder wealth is maximized by governance policies that tie board deference to generous compensation and link the …
Persistent link: https://www.econbiz.de/10011004279
Exploiting a unique feature of the Clayton Antitrust Act, we analyze how directors holding outside directorships at peer firms affect firm value and performance of financial firms. We find that directors serving simultaneously at horizontally-related firms have a negative impact on firm value...
Persistent link: https://www.econbiz.de/10011273999
Purpose - The need for robust governance standards in financial institutions requires no overemphasis. However …, instances of governance failures have been a recurring global phenomenon. This paper examines the key elements of governance in … financial institutions, evaluates reasons for failures and suggests ways to strengthen governance and prevent such failures …
Persistent link: https://www.econbiz.de/10014449757
blockholder governance through both voice (direct intervention) and exit (selling one's shares). We survey the empirical evidence … corporate governance. We start with the underlying property rights of public corporations; we discuss how blockholders are … active in firm governance. We then examine what distinguishes a blockholder from an ordinary shareholder and advocate …
Persistent link: https://www.econbiz.de/10014023374
Some investment advisors offer multiple versions of a fund with the same manager and highly correlated returns. But these “twin” funds are separate portfolios for different investors with differing abilities to select and monitor managers. Using a matched sample of retail and institutional...
Persistent link: https://www.econbiz.de/10010550272
The present study assesses how governance affects information and communication technology at the global level … generalised method of moments. The following main findings are established. For the full sample, governance unconditionally … promotes ICT development while trade openness (industrial added value) moderate governance to promote (dampen) ICT development …
Persistent link: https://www.econbiz.de/10014549413
, internet penetration and telephone penetration rates while all governance dimensions from the World Bank Governance Indicators … are considered, namely: political governance (consisting of political stability and “voice & accountability”); economic … governance (entailing government effectiveness and regulation quality) and institutional governance (encompassing the rule of law …
Persistent link: https://www.econbiz.de/10011784882
This study assesses linkages between social media and governance dynamics in 49 African countries for the year 2012 …. The empirical evidence is based on ordinary least squares and quantile regressions. Ten bundled and unbundled governance … dynamics are used, notably: (i) polit ical governance (entailing "voice & accountability" and political stability/no violence …
Persistent link: https://www.econbiz.de/10012112169
Purpose - This study investigates the role of ICT in modulating the effect of governance on insurance penetration in 42 … include: mobile phone penetration, internet penetration and fixed broadband subscriptions. Six governance channels are also … findings are established. First, mobile phone penetration does not significantly modulate governance channels to positively …
Persistent link: https://www.econbiz.de/10012112211