This paper provides an account of the Emerging Markets Corporate Governance Research Network (EMCGN) and its first 10 years of activities. The network was established under the auspices of the Global Corporate Governance Forum (now incorporated into IFC’s Corporate Governance Group). The paper...

This paper analyses residential demand for internet access in Austria with a focus on broadband internet connections. Austria has a cable network coverage of about 50% and is, therefore, a good candidate to analyse the elasticity of demand for DSL where cable is available and where it is not. We...

We study the relationship between female representation on boards and firm value and profitability in Turkey from 2011 to 2018, relying on hand-collected data covering the vast majority of listed firms. We build several proxies of female representation on boards and find no evidence that female...

The chapter examines the extant research on governance and corporate social responsibility practices of large Turkish companies and links these practices to the behavior and performance of Turkish companies

We examine the relationship between the tonality of news flow and the cross section of expected stock returns. We use a comprehensive definition of media coverage that includes both financial newspapers and mass media, represented by TV broadcasts. Using the total news flow with positive and...

We analyze a unique source of media data to assess the influence of different topics of corporate news on costs of financing for a sample of large European and US firms from 2006 to 2016. We distinguish between volume (number of news), tonality (positive, neutral, negative), source (financial...

An important issue in evaluating corporate governance is how to measure it. In prior work on emerging markets, we have advocated measuring firm-level governance using country-specific indices, tailored to each country's laws and institutions. An alternate approach, used in commercial indices, is...

We develop a Clawback Strength Index and show that while some firms adopt unambiguous and strong clawback provisions, others adopt weak ones. We find that strong clawback adopters experience improvements in financial reporting quality, fewer CEO turnovers, and lower CEO pay. We advance two...

We analyze the relationship between the ownership structure and executive compensation in a sample of large listed German companies over the period from 1987 to 2003. Our findings suggest that executive compensation is a substantial fraction of corporate earnings and it reflects the existence of...