Corporate Social Responsibility Disclosure in Manufacture Public Companies at Indonesian Stock Exchange. This research aimed at knowing the influence of audit quality, proportion of independent commissioner, audit committee, firm size, managerial ownership and leverage. It used purposive...

This paper looks at the post-financial-crisis period, and the relationship between default risk and corporate governance for financial firms outside North America. Default risk is measured by both credit default swap spreads (CDS) and the Merton-type default probabilities from Bloomberg. Our...

This paper examines the impacts of macroeconomic uncertainty, state ownership and board composition on firm performance. First, we find state ownership is negatively related to firm performance measured by return on assets and Tobin's Q. However, Tobin's Q increases with state ownership when...

We examine whether institutional investors with short-term incentives affect firms' innovation performance. We find that firms with a greater concentration of transient and quasi-indexer institutional investors are associated with lower innovation performance, as measured by patents and...

Although empirical studies show that common shareholding affects corporate conduct and that common horizontal shareholding lessens competition, critics have argued that the law should not take any action until we have clearer proof on the causal mechanisms. I show that we actually have ample...

Purpose - The need for robust governance standards in financial institutions requires no overemphasis. However, instances of governance failures have been a recurring global phenomenon. This paper examines the key elements of governance in financial institutions, evaluates reasons for failures...

Mutual fund advisers either expense the cost of research and other services or pay for them with soft dollars. This study is the first to use actual soft dollar and total brokerage commission figures for a large number of funds and to examine how soft dollars are linked to mutual fund...

The primary objective of the present study was to expand understanding of the determinants of adoption innovation in SME context by empirically examine the effect of corporate governance structure on manager’s innovative behavior. This was done through exploring whether ownership structure...

This study tests two opposing views of institutional investors – monitoring versus expropriation – by investigating whether institutional ownership is positively or negatively related to future firm-specific stock price crash risk. We present robust evidence that institutional ownership is...

Asset owners (principals) typically do not manage their own investments and leave this job to delegated managers (agents). What is best for the asset owner, however, is usually not best for the fund manager. Additional agency conflicts arise when the asset owner does not know the quality and...