Research Question: This study investigates whether corporate information opacity affects the association between family ownership and cost of capital. Motivation: Firms' ownership structure has been identified as a major factor that affects their cost of capital. Idea: Corporate transparency...

This paper is aimed to explore and compare disclosure on corporate governance mechanisms in the annual reports of commercial banks for two emerging countries: Romania and Malaysia. There were selected 34 banks situated in Romania and Malaysia, in order to highlight the influence of culture and...

Research Question- Do the characteristics of the board of directors and the characteristics of audit committee influence Tunisian companies' growth opportunities? Motivation- Attract the attention of policy makers to design appropriate governance mechanisms for emerging countries in general and...

One of the major roles in promoting accounting convergence is played by big accounting firms (Big 4). The objective of this paper is in this context to analyze and question the role of big auditing firms in developing and implementing IFRSs worldwide, in order to better understand the...

We assess Euro Area financial integration correcting for the role of "onshore offshore financial centers" (OOFCs) within the Euro Area. The OOFCs of Luxembourg, Ireland, and the Netherlands serve dual roles as both hubs of investment fund intermediation and centers of securities issuance by...

Over the past decade, the six largest Canadian banks held an increasingly greater share of their assets and liabilities abroad, linking the Canadian banking system more closely to economic and financial developments elsewhere in the world. In 2023, the share of Canadian banks' foreign assets and...

Economic theory suggests that a commitment by a firm to increased levels of disclosure should lower the information asymmetry component of the firm’s cost of capital. But whi le the theory is compelling, so far empirical results relating increased levels of disclosure to measurable economic...

We investigate the suggested substitutive relation between executive compensation and the disciplinary threat of takeover imposed by the market for corporate control. We complement other empirical studies on managerial compensation and corporate control mechanisms in three distinct ways. First,...

Seit zwanzig Jahren befaßt sich die Finanzmarktforschung einerseits mit Fragen der Bewertung und des Managements von Finanztiteln auf effizienten Kapitalmärkten und mit Fragen der Managementkontrolle auf unvollkommenen Märkten. Der folgende selektive Überblick konzentriert sich auf zentrale...

This paper analyzes how agency problems in nancial contracting determine risk-taking andinvestment. In perfect capital markets a risk-neutral rm would invest until the expectedmarginal return equals the interest rate. However, as rms with little net-worth face agencycost in nancial contracting...