Corporate governance (CG) is often split among rule and principlebased methods to regulation in distinctive institutional contexts. Relying on an alternative theoretical framework (i.e. institutional theory), rather than the dominant agency theory, this study conceptualizes corporate governance...

We investigate how borrowers' corporate governance influences bank loan contracting terms in emerging markets and how this relation varies across countries with different country-level governance. We find that borrowers with stronger corporate governance obtain favorable contracting terms with...

Using self-made billionaire entrepreneurs in China as a proxy for large entrepreneurs, we examine the impact of institutional environment quality on the longevity of such entrepreneurs. While property rights institutions and contracting institutions are important in explaining macroeconomic...

This paper identifies, and then examines, whether institutional structures can be used to explain the occurrence of accounts manipulation. Specifically, it investigates whether legal origin, level of corruption, the extent of press freedom, State's ownership of enterprises, and the State's...

Analyzing innovative firms' patent and financial data in 23 countries over 1990-2012, we find that more innovative firms hoard more cash for technology competition and opportunities. Our instrumental variable regression analysis based on the patent rights index supports a causal interpretation...

Foreign directors can affect firm value through their advising and monitoring functions. However, the demand for these directors, as well as their effect on firm performance is likely to be influenced by firm- and country-level characteristics. In a large sample of non-U.S. firms, we find that...