In their 2008 paper, Dahya, Dimitrov, and McConnell find that corporate values are lower when a higher fraction of the firm’s board of directors is associated with the dominant shareholder, especially in countries with weak legal regimes. Our study presents a simple model that is consistent...

A number of studies have reported value discounts for listed companies in countries that provide weak legal protection to minority shareholders. Such studies typically attribute these discounts to the ability, and the well-documented tendency, of controlling shareholders to extract a...

Purpose – The purpose of this paper is to examine the effect of the passage of the Sarbanes‐Oxley Act (SOX) on a number of governance and governance‐related characteristics, such as board structure and committee composition, as well as the effect of those changes (if any) on both...