We examine the effect of a permanent change to a country corporate income repatriation tax system on corporate financial policies. In 2009 Japan and the U.K. switched from a worldwide to a territorial system for the taxation of repatriated foreign earnings. The new system effectively reduces the...

The changing nature of initial public offering (IPO) underpricing is examined using a sample of 513 IPOs launched in the UK from 1993 to 2001. It is found that the mean UK underpricing is initially less than that in the USA, reverses itself in the mid-1990s, returns to a lower level during the...

Using a large sample of CEOs of U.K. firms, we show that CEO age is a key determinant of acquisition activity. We find that younger CEOs are more likely to acquire another firm and spend more on large capital expenditures. We argue that while younger CEOs of both U.K. and U.S. firms undertake...

Volume 17 of Advances in financial economics, entitled "Corporate governance in the US and global settings" will provide further insights into corporate governance in the US & global economic and financial environment by publishing international, within-country and cross-country comparative...