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terminate poorly performing managers. This finding is consistent with our hypothesis that governance problems in private firms … performing managers. Comparing private firms to their public counterparts, we find that private firms have a lower propensity to … replace poorly performing managers than public firms do and that public firms' exposure to capital market forces (the market …
Persistent link: https://www.econbiz.de/10012938429
Persistent link: https://www.econbiz.de/10014441169
Using a sample of non-U.S. firms from 43 countries, we investigate whether laws and regulations as well as votes cast by U.S. institutional investors are consistent with an effective shareholder voting process. We find that laws and regulations allow for meaningful votes to be cast as...
Persistent link: https://www.econbiz.de/10013011773
Using a sample of non-U.S. firms from 43 countries, we investigate whether laws and regulations as well as votes cast by U.S. institutional investors are consistent with an effective shareholder voting process. We find that laws and regulations allow for meaningful votes to be cast as...
Persistent link: https://www.econbiz.de/10013038476
We study the impact of internal corporate governance on performance during the current financial crisis using a comprehensive cross-country sample of 4046 publicly traded non-financial firms from 23 countries. Using a broad-based index of corporate governance quality, we find that well-governed...
Persistent link: https://www.econbiz.de/10013128096
managers. Some authors have pointed out that neither the formal governance institutions (i.e. the composition of the different …
Persistent link: https://www.econbiz.de/10013046348
Using a large sample of firms from 37 countries over the period of 2007-2015, we empirically analyse the impact of religion and national culture characteristics on the level of corporate risk-taking around the world and the channels through which this can take place. First, we initially observe...
Persistent link: https://www.econbiz.de/10011972764
Persistent link: https://www.econbiz.de/10003441778
We examine whether similarities in legal, sociological, and cultural characteristics between countries (country-pair homophily) affect foreign director appointments. Our results from estimating a gravity model, which includes economic and geographic country characteristics, indicate that...
Persistent link: https://www.econbiz.de/10012855937
Using a large sample of firms from 38 countries over the 2001-2012 period, we find evidence that following say on pay (SoP) laws, CEO pay growth rates decline and the sensitivity of CEO pay to firm performance improves. These changes are mostly concentrated on firms with high excess pay and...
Persistent link: https://www.econbiz.de/10013006494