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...

The fact that the consistently poor performance of China's stock markets has not matched China's rapid economic growth has been puzzling. Using samples of private-owned enterprises publicly traded on China's stock markets, this article finds that 74% of these firms are politically-connected and...

We study the relationship between female representation on boards and firm value and profitability in Turkey from 2011 to 2018, relying on hand-collected data covering the vast majority of listed firms. We build several proxies of female representation on boards and find no evidence that female...

Given the endogenous and contingent nature of firms' governance choices, it is not surprising that the results of prior studies investigating the association between board attributes and firm performance are mixed. In this paper, we exploit the presence of an exogenous shock represented in the...

Using quasi-natural experiments, we study how directors’ relative power or influence modulates the effects of board gender diversity. At low levels of influence, female directors have no significant impact on firm risk-taking and financial performance. However, as their influence increases...

This paper investigates politically connected firms in Germany. With the introduction of a new transparency law in 2007, information on additional income sources for all members of the German parliament became publicly available. We find that members of the conservative party (CDU/CSU) and the...

Prior research has found securities class actions result in management making improvements within the firm, which helps to reduce agency problems. However, little evidence exists as to whether these changes are beneficial to the firm. We examine the effect securities class actions have on...

This study aims at empirically exploring the influence of sustainability practices on the finan cial performance of 116 listed Swedish companies in the year 2019. The research findings indicate a positive relationship between corporate sustainability and financial performance that is measured by...

Previous literature investigates links between corporate social responsibility (CSR), earnings management (EM), and firm performance (FP) but has looked at pair-wise relations (CSR-EM, CSR-FP, and EM-FP) for one-way effects without considering endogeneity among the variables. We examine these...

Though overall bank performance from July 2007 to December 2008 was the worst since the Great Depression, there is significant variation in the cross-section of stock returns of large banks across the world during that period. We use this variation to evaluate the importance of factors that have...