Community banks can be vulnerable to the same economic tensions and conflicts of interest that have compromised corporate governance at more high-profile firms over the past few years. The authors discuss their preliminary findings from a project designed to construct a systematic database on...

This paper attempted to test whether efficient cooperative rural banks (CRBs) have a better control of their agency costs. We used two different concepts of efficiency, namely, cost efficiency and alternative profit efficiency, and found somewhat different results from both approaches. Using...

El Gobierno Corporativo en Colombia es visto, como la oportunidad que tienen nuestras empresas de acceder y competir abiertamente en los mercados internacionales, esto en razón a que muchos inversionistas las consideran como las palabras mágicas que abren o cierran puertas en los negocios...

"New Tigers" (including city commercial banks) outperform state-owned commercial banks burdened with non-performing loans from unprofitable state-owned enterprises. We study whether this is due solely to superior corporate governance (multiple shareholders versus total government ownership) or...

This article contributes in at least three ways to the investment-cash flow literature. First, it finds that the corporate governance environment of a firm affects the relationship between investment and cash flow. Second, it allows for both asymmetric information and managerial discretion...

This article examines to what extent Russia's increasing reliance on foreign capital could potentially kick-start the economy and generate growth. The analysis highlights more fundamental issues of governance and institutional arrangements, for which the focus on foreign economic activities...

This paper reports on empirical investigations of the determinants of leverage and agency problems. Use is made of private data obtained through questionnaires, and a regression model is estimated in which leverage and four agency problems are explained, i.e. direct wealth transfer, asset...

The objective of this paper is to gauge the extent to which Chinese state-owned commercial banks are converging with international best banking and corporate governance practices, with a particular focus on the policy of international listing given its recent popularity. Drawing on the...

The upgrading of the Greek capital market and the effort to join other mature capital markets has posed corporate governance reform as a first priority. In addition, the 2004 Olympic Games put the Greek market in the international spotlight and will likely invite interest from foreign investors....