Purpose: This paper aims to argue that the accounting standards’ requirements for the valuation of defined benefit pension schemes in the financial statements of scheme sponsoring companies potentially produce an artificial result which is at odds with the “faithful representation” and...

In this paper I show that both aspects of financial development, namely liberalisation and deepening, and financial internationalisation proxied using cross listings in the U.S. creates value for emerging market firms. Financial deepening, or more precisely, stock market deepening enhances...

In this paper, I examine whether the “investable premium” documented by Mitton and O'Connor (2010) is permanent. In a series of firm-fixed effects regressions, I show that the “investability premium” disappears after five years of becoming investable, but subsequently reappears, and...

This chapter provides a summary of international cross-listing behavior. It discusses the internal and external factors, which prompt firms to cross-list in the first instance, where to cross-list, and for some, cross-delist. It also examines the behavior of firms once they crosslist. Also...

Using a sample of 686 investable firms from 26 emerging market countries, I show that equity market liberalizations do not result in an increase in externally-financed growth rates for participating firms. In fact, I find mostly to the contrary, and at best, I find that investability is...

This paper examines the relationship between the strength of creditor rights, their legal enforcement, corporate governance and corporate dividend payout in a sample of 281 emerging market firms. It shows that the outcome model of dividends holds in emerging markets, but only where the legal...

Purpose – The purpose of this research is to examine whether corporate governance changes along the corporate life-cycle.Design/methodology/approach – In a sample of 205 firms from 21 emerging market countries and using a life-cycle proxy from the dividends literature, we use a...

Purpose: This paper argues that the accounting standards' requirement for the valuation of pension scheme liabilities, potentially produces an artificial result which is at odds with the “faithful representation” and “relevance” objectives of these standards.Design/methodology/approach:...