Purpose In this paper, the authors study the failure of Russian banks between 2012 and 2019. Design/methodology/approach The authors analyze the entire population of Russian banks and combine a logit model with the survival analysis. Findings In addition to the usual determinants, the authors...

Using a sample of 595 firms listed in the capital markets of Argentina, Brazil, Chile, Colombia, Mexico, and Peru for the period of 2000–2015, we confirm prior literature by showing that when power distribution among several large shareholders (contestability) increases, firms’ financial...

We address the influence of directors who represent institutional investors in three aspects of board compensation policies: level of compensation, composition, and performance sensitivity. We differentiate pressure-sensitive directors (i.e., with business links) and pressure-resistant directors...

We analyze the effect of two types of corporate diversification (business diversification and ownership diversification) on the market value of the Chilean firms. For a sample of 83 nonfinancial firms listed on the Santiago Stock Market from 2005 to 2013, we find a discount for both business and...

The aim of this paper is to analyse the influence of financial system liquidity and corporate leverage on a firm's overinvestment. We posit that when external funds are easily available, as in expansionary monetary periods, debt loses its traditional role as a managerial control mechanism....

Using a sample of 595 firms listed in the capital markets of Argentina, Brazil, Chile, Colombia, Mexico, and Peru for the period of 2000-2015, we confirm prior literature by showing that when power distribution among several large shareholders (contestability) increases, firms' financial...