This study examines the relationship between cross-listing and managerial compensation of Chinese firms that concurrently issued A- and B-shares or A- and H-shares during 2001 - 2010. The results show that executive compensation is a positive factor to motivate Chinese A-share firms to...

The emergence of Sovereign Wealth Funds (SWFs) and some spectacular investments of these funds in recent years have caused widespread attention on international financial markets. Most SWFs are domiciled in Arabian countries, East Asia and Russia. Their low transparency led to concerns that SWFs...

The emergence of Sovereign Wealth Funds (SWFs) and some spectacular investments of these funds in recent years have caused widespread attention on international financial markets. Most SWFs are domiciled in Arabian countries, East Asia and Russia. Their low transparency led to concerns that SWFs...

This presentation provides an overview of the major strategic trends and policies shaping the development of government securities markets in the OECD area. Attention is focused on best (or leading) practices in primary and secondary markets covering strategic issues such as the structure of...

This paper seeks to add to the current debate about financial development and growth in the emerging world by looking at how different financial systems evolve: how and why financial structures change during various stages of development, how best to measure them, and seeing what practical...

This is the second article of a two-part series analyzing the economic and policy factors related to the potential adoption of IFRS by the United States. In Part I (see Hail et al. 2010), we develop the conceptual framework for our analysis and discuss economic factors driving the costs and...

The global financial and economic crisis marks an important turning point for finance and the Asian growth model. Regional consensus is now supporting economic rebalancing away from the dominant focus on exports to developed markets and towards more a more balanced economic structure supported...

This article is Part I of a two-part series analyzing the economic and policy factors related to the potential adoption of IFRS by the United States. In this part, we develop the conceptual framework for our analysis of potential costs and benefits from IFRS adoption in the United States....

The financial crisis is a challenge for global regulatory governance. Indeed the crisis is a very interesting case study to understand how regulation evolves and institutional transformation occurs. The issue is addressed taking legal, public policy, and international relations aspects into...

We show that political uncertainty surrounding elections can affect how corporate investment responds to stock prices. In a large panel of elections around the world, investment is 40% less sensitive to stock prices during election years compared to non-election years. The decrease in...