Do special-purpose governments (SPGs) mimic the capital structure of private firms, when SPGs lack the market mechanism for discipline to which private-sector entities are subject? If so, what implications do those choices have on SPG performance? This paper answers these questions. SPGs are...

As more investors have bought shares in Asian companies, global interest in these firms' corporate governance has soared. Firms like Institutional Shareholder Services have begun to rate Asian firms' corporate governance, assigning them "Corporate Governance Quotients" (CGQ). Some research...