This paper utilizes data on the presence of prominent individuals—that is, those with political (e.g., Members of Parliament) and aristocratic titles (e.g., lords)--on the boards of directors of English and Welsh banks from 1879-1909 to investigate whether the appointment of well-connected...

China has sought to improve enterprise performance not through privatisation as in other transition economies, but through corporatisation as means of improving corporate governance. Actual governance practices of corporatised Chinese firms are however seriously defective, characterized by...

Countries with weaker domestic institutions hold fewer foreign assets and exhibit concentrated corporate ownership. An equilibrium business cycle model of international capital ows with corporate governance frictions between outside investors and insiders explains both phenomena. Investment...

The purpose of this study is to distinguish between delisting and surviving firms using corporate governance characteristics of the firms.To this end, we employ discriminant analysis on a sample of industry and size matched pair of delisting firms. The sample was retrieved as a subset of firms...

In recent years the problem of the determination of causality has become an increasingly important question in the field of corporate governance. This paper reviews contemporary literature on the topic and finds that the current approach is to attempt to determine causality empirically and that...

Using securities lawsuits related to M&A as an industry shock, the authors examine whether litigation risk acts as an external governance mechanism by disciplining managers' investment decisions. In the two years following an M&A lawsuit (a lawsuit where plaintiffs allege that the firm hid poor...

The increasing importance recognised to corporate governance, the shift from the dominance of the shareholder view to the prevalence of the stakeholder view, and the necessity to recover approval on companies' actions have stressed the opportunity of complete disclosure about corporate...

Honda is engaged in business activities on a global scale. It is necessary for Honda associates worldwide to understand, respect, share and implement a unifying philosophy. This philosophy should be the base of action and judgment for all companies and associates within the Honda Group. Honda's...

The application of proper governance principles demands a clear focus on sustainable growth as the basis for risk minimization in order to ensure long-term company success. In other words, a company's effectiveness implies the assumption of a global responsibility concept based on strict...

Corporate governance stems from the interplay of legal norms, security regulation, self-regulation and best practices. Recent scandals and frauds have forced governments to update laws on corporate governance: the legislation process has been very fast in some countries, others have lagged. Law...