We estimate accelerator-cash flow models for 25,000 firms in 15 transition economies over the period 1993-2003, and find that (1) investment-cash flow sensitivities decline over transition years, which we attribute to a decreasing of asymmetric information and managerial discretion as capital...

This essay has focused on the importance of searching for common solutions for relevant common corporate governance problems in European countries. 30 years ago, the Jean Monnet Action was born, named after one of the EU Pioneers, the first president of the executive body of the European Coal...