Many scholars have linked Corporate Governance (CG) and performance or CG, capital structure of banks or market structure. The decision to use the capital market or debt in order to obtain the necessary capital to finance firms' operations is a critical factor for the formulation of corporate...

Few enterprise operational areas present as much inherent risk or prove as difficult to govern as Information Technology (“IT”). To be successful, IT governance requires enterprise commitment at the very top. Boards and executive management need to extend governance, already exercised over...

This Article provides a detailed case study, from a corporate governance perspective, of the 2004 decision of News Corp to migrate from Australia, where it had been incorporated for decades, and to reincorporate in Delaware. As the Article shows, News Corp.'s move to the United States was both...

Corporate governance frameworks in the Middle East and North Africa region have undergone a substantial evolution in the past decade. Better enforcement of corporate governance rules and regulations has in the past three years emerged as both a policy challenge and a priority for the region....

Federal law mandates that audit and compensation committees of public companies be comprised entirely of independent directors. The assumption underlying these legal requirements is that independent directors are more likely to act as monitors of the company's top management. In this paper, we...

Companies can create a subcommittee of the board of directors to deal with legal compliance. After the final Sarbanes-Oxley regulations, the Securities and Exchange Commission (S.E.C.) predicted that 11% of issuers would form Qualified Legal Compliance Committees (QLCCs). Between October 2002...

This paper studies the market-level effects of litigation rights in an imperfectly competitive capital market with a market maker, an information-acquiring investor, and liquidity traders. Litigation rights have the following equilibrium effects. (i) The investor acquires more private...

The likelihood and speed of forced CEO turnover - but not voluntary turnover - are positively related to a firm's earnings management. These patterns persist in tests that consider the effects of earnings restatements, regulatory enforcement actions, and the possible endogeneity of CEO turnover...