Motivated by failures of iconic corporate hallmarks like Enron and WorldCom, in July of 2002 the Sarbanes-Oxley Act was passed to prevent managerial misconduct and deceptive accounting in an effort to ensure incentives alignment between managers and shareholders. Whether the Act has been...

This paper examines the impact of labor union shareholder activism through the submission of shareholder proposals during 1988-2002. We examine the effect of labor union sponsored shareholder proposals on announcement period returns, on the corporate governance environment of the firm including...

Existing studies of capital structure show a positive association between tangible assets and leverage, but these studies have ignored the potential systematic variation in magnitude due to institutional heterogeneity across countries. Using a sample from 32 countries, we find that the...