The analysis of the factors of corporate governance is divided into four thematic sections. In the first part corporate governance is defined as part of the broader economic context. The second part deals with the principles of corporate governance. In the third part, the relation between the...

Grounded in agency theory, this paper investigates the effect of board independence on managerial ownership. We exploit the passage of the Sarbanes-Oxley Act and the associated exchange listing requirements as an exogenous regulatory shock that raises board independence. Our...

A poor ethical culture has been considered one of the reasons for the emergence of many corporate governance scandals. In this paper, I investigate the link between two corporate governance mechanisms – the composition of the board of directors and ownership structure – and ethical culture...

Corporate governance is concerned with the resolution of collective action problems among dispersed investors and the reconciliation of conflicts of interest between various corporate claimholders. In this survey we review the theoretical and empirical research on the main mechanisms of...

Board composition is central to the worldwide corporate governance reforms that have taken place in recent years. The strong emphasis on director independence and board leadership is now part of all corporate governance regimes, including the regimes which has been introduced in Malaysia. It is...

This paper studies the interactions between corporate boards and major customers. Using the Sarbanes-Oxley Act of 2002 (SOX) and consequent governance reforms as a quasi-natural experiment, we find that SOX-affected firms diversify their customer bases by removing directors with business links...

Using a unique sample of hand-collected profiles of foreign directors over the period of 2006–2016, I examine whether foreign directors’ board representation improves its dual role of monitoring and advising executives. The setting for this study is Russian public companies’ boards of...

We examine the relationship between firm performance and corporate governance in microfinance institutions (MFI) using a self-constructed global dataset on MFIs collected from third-party rating agencies. Using random effects panel data estimations, we study the effects of board and CEO...

This paper examines the relationship between board of director characteristics and performance in family businesses, providing evidence on whether family firms differ from non-family ones and focusing also on the possibility of asymmetrical effects between periods of stability and economic...

The main goal of the paper is to understand if the shareholder composition must be considered as part of the corporate governance framework or as monitoring factor. A related goal of the paper is to investigate if the shareholder composition must be included in the loop among the corporate...