This study investigates the relationship between stock liquidity and frm innovation for publicly traded growing small and medium-sized enterprises (SMEs) in China using both innovation input and output. We collected samples of 785 SMEs from China's Shenzhen Growth Enterprises Market without the...

Using data on anti-takeover provisions (ATPs) and top management characteristics hand-collected from IPO prospectuses, we analyze the effect of the pre-IPO innovativeness and the top management quality of private firms on the number and strength of ATPs in IPO firm charters. We test the...

Both theoretical and empirical studies provide mixed predictions when looking at the impact of corporate ownership on innovation. Contributing to this discussion, this paper conducts a causality test of the relation between the ownership concentration of firms and their innovation, measured by...

The desirability of anti-takeover provisions (ATPs) is a contentious issue. ATPs might enable managerial empire building by insulating managers from disciplinary takeovers. However, some companies, such as ‘hard-to-value' (HTV) companies, might trade at a discount due to valuation...

This paper contains the coding protocol for the paper "Diffusion of Regulatory Innovations: The Case of Corporate Governance Codes". The provisions of 106 corporate governance codes from 23 jurisdictions are analysed and coded along six dimensions: (1) the proportion of non-executive to...

Since the 1990s, most European countries have adopted detailed corporate governance codes regulating listed companies. Even though the initial codes were designed against the backdrop of a particular jurisdiction, best practice standards have become remarkably similar across legal traditions....

Eighty-two percent of public firms have golden parachutes (or “chutes”) under which CEOs and senior officers may be paid tens of millions of dollars upon their employer's change in control. What justifies such extraordinary payouts?Much of the conventional analysis views chutes as excessive...

We examine the effect of the Jumpstart Our Business Startups (JOBS) Act on biotech startups, who conduct almost 40% of IPOs since 2012. Reduced compliance costs encourage innovation capital formation as biotech IPO volume increases 200% and proceeds rise by 30%. After the JOBS Act, biotech...