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Corporate governance, agency problems and international cross-listings: A defense of the bonding hypothesis
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In this article, the authors present a review of the viability of the bonding hypothesis in the context of cross-listing and argue that it may not be a good fit for many companies.About:
This article is published in Emerging Markets Review.The article was published on 2012-12-01. It has received 178 citations till now. The article focuses on the topics: Corporate governance & Conventional wisdom.read more
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Corporate governance in emerging markets: A survey
TL;DR: A review of recent research on corporate governance with a special focus on emerging markets is presented in this paper, where the authors find that better corporate governance benefit firms through greater access to financing, lower cost of capital, better performance, and more favorable treatment of all stakeholders.
Journal ArticleDOI
Environmental disclosure quality: Evidence on environmental performance, corporate governance and value relevance
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Are U.S. CEOs Paid More? New International Evidence
TL;DR: In this paper, the authors show that the U.S. pay premium is economically modest and primarily reflects the performance-based pay demanded by institutional shareholders and independent boards, and that there is no significant difference in either level of CEO pay or the use of equitybased pay between U. S. and non-U.S firms.
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The U.S. left behind? Financial globalization and the rise of IPOs outside the U.S.
TL;DR: In this paper, the share of world IPO activity by non-U.S. firms increased because of financial globalization and because of a decrease in U.S., and the abnormally low rate cannot be explained by the regulatory changes of the early 2000s.
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Posted Content
Law and Finance
Rafael La Porta,Rafael La Porta,Florencio Lopez de Silanes,Florencio Lopez de Silanes,Andrei Shleifer,Andrei Shleifer,Robert W. Vishny,Robert W. Vishny +7 more
TL;DR: This paper examined legal rules covering protection of corporate shareholders and creditors, the origin of these rules, and the quality of their enforcement in 49 countries and found that common law countries generally have the best, and French civil law countries the worst, legal protections of investors.
Journal ArticleDOI
Law and Finance
TL;DR: In this article, the authors examined legal rules covering protection of corporate shareholders and creditors, the origin of these rules, and the quality of their enforcement in 49 countries and found that common-law countries generally have the strongest, and French civil law countries the weakest, legal protections of investors, with German- and Scandinavian-civil law countries located in the middle.
Journal ArticleDOI
A Simple Model of Capital Market Equilibrium with Incomplete Information
TL;DR: The model financial economics encompasses finance, micro-investment theory and much of the economics of uncertainty as mentioned in this paper, and it has had a direct and significant influence on practice, as is evident from its influence on other branches of economics including public finance, industrial organization and monetary theory.
ReportDOI
Financing Constraints and Corporate Investment
TL;DR: In this paper, the authors examine the importance of a financing hierarchy created by capital-market imperfections and find that investment is more sensitive to cash flow for the group of firms that are most likely to face external finance constraints.
Journal ArticleDOI
The Long‐Run Performance of initial Public Offerings
TL;DR: In this article, the authors used a sample of 1,526 IPOs that went public in the U.S. in the 1975-84 period, and found that in the 3 years after going public these firms significantly underperformed a set of comparable firms matched by size and industry.