The purpose of this article is to present the path dependence of regulation as an important engine of evolution of executive compensation in the US financial institutions. In particular, the impact of regulations, including tax laws, accounting principles and disclosure requirements of public...

Purpose –This paper aims to investigate the joint effect of board characteristics on financial performance. Most of the existing literature implicitly assumes that the relationship between either board composition, or board leadership structure and financial performance is direct....

Purpose –This paper aims to investigate whether there is heterogeneity in the relationship between the bank loan interest rate and its determinants using the quantile regression method and to reconcile some conflicting findings in prior literature. Design/methodology/approach –First, the...

This paper examines the Transaction Cost Economics (TCE) theory of capital structure and finds that for the case of equity the usual TCE logic is not fully worked out. In particular, an analysis of the key issue of bilateral dependency between the firm and its shareholders is absent. To fill...

The proposed SDN documents the evolution of bank size and activities over the past 20 years. It discusses whether this evolution can be explained by economies of scale or “too big to fail†subsidies. The paper then presents evidence on the extent to which bank size and market-based...

This study aims to examine whether or not board characteristics have an impact on the quality of intellectual capital disclosures. A measure of the quality of intellectual capital disclosure (ICDQ) based on a content analysis of the text in annual reports of sample companies is incorporated in...

Corporate governance is mainly focused on ensuring that managers act in shareholders' interest. Therefore, this concept has emerged as essential to minimize conflicts in the company and to discourage managers to take leverage decisions that enhance their own benefits, to the detriment of...

This study examines how board characteristics interact with quality of environmental reporting. Data obtained from twenty one environmentally sensitive firms was analysed using logistic regression. Content analysis was utilised to identify firms that disclose qualitative environmental reports....

Purpose –The purpose of this paper is to examine whether corporate governance changes along the corporate life-cycle. Design/methodology/approach -In a sample of 205 firms from 21 emerging market countries and using a life-cycle proxy from the dividends literature, the authors use a...

Many governance reform proposals are based on the view that boards have been too friendly to executives, for example, by awarding them excessive pay. Although boards are often on friendly terms with executives, it is less clear that they have systematically failed to function in the interests of...