Journal ArticleDOI
Endogeneity and the dynamics of internal corporate governance
TLDR
In this article, the authors use a well-developed dynamic panel generalized method of moments estimator to alleviate endogeneity concerns in two aspects of corporate governance research: the effect of board structure on firm performance and the determinants of board structures.About:
This article is published in Journal of Financial Economics.The article was published on 2012-09-01. It has received 1580 citations till now. The article focuses on the topics: Corporate governance & Endogeneity.read more
Citations
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Journal ArticleDOI
Foreign investors' interests and corporate tax avoidance: Evidence from an emerging economy
TL;DR: In this article, the tax impact of foreign investors' interests within a host developing economy was examined, and the analysis of the dynamic panel data with a system GMM estimator showed significant positive relationships between foreign investors interests and the measures of corporate tax avoidance among large Malaysian companies.
Journal ArticleDOI
Corporate governance in the 2007–2008 financial crisis: Evidence from financial institutions worldwide
TL;DR: In this paper, the influence of corporate governance on financial firms' performance during the 2007-2008 financial crisis was investigated using a unique dataset of 296 financial firms from 30 countries that were at the center of the crisis.
Journal ArticleDOI
Do Women Directors Improve Firm Performance in China
Yu Liu,Zuobao Wei,Feixue Xie +2 more
TL;DR: Wang et al. as discussed by the authors examined the effect of board gender diversity on firm performance in China's listed firms from 1999 to 2011 and found that female executive directors have a stronger positive effect on the firm performance than female independent directors, indicating that the executive effect outweighs the monitoring effect.
Journal ArticleDOI
Corporate social responsibility and stock price crash risk
Yongtae Kim,Haidan Li,Siqi Li +2 more
TL;DR: In this article, the authors investigated whether corporate social responsibility mitigates or contributes to stock price crash risk and found that firms' CSR performance is negatively associated with future crash risk after controlling for other predictors of crash risk.
Journal ArticleDOI
Stronger Risk Controls, Lower Risk: Evidence from U.S. Bank Holding Companies
Andrew Ellul,Vijay Yerramilli +1 more
TL;DR: In this paper, the authors investigated whether cross-sectional dierences across U.S. bank holding companies (BHCs) can be explained by dierences in the organizational structure of their risk management functions.
References
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Book
Econometric Analysis of Cross Section and Panel Data
TL;DR: This is the essential companion to Jeffrey Wooldridge's widely-used graduate text Econometric Analysis of Cross Section and Panel Data (MIT Press, 2001).
Journal ArticleDOI
Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations.
Manuel Arellano,Stephen Bond +1 more
TL;DR: In this article, the generalized method of moments (GMM) estimator optimally exploits all the linear moment restrictions that follow from the assumption of no serial correlation in the errors, in an equation which contains individual effects, lagged dependent variables and no strictly exogenous variables.
Report SeriesDOI
Initial conditions and moment restrictions in dynamic panel data models
Richard Blundell,Stephen Bond +1 more
TL;DR: In this paper, two alternative linear estimators that are designed to improve the properties of the standard first-differenced GMM estimator are presented. But both estimators require restrictions on the initial conditions process.
Journal ArticleDOI
Another look at the instrumental variable estimation of error-components models
Manuel Arellano,Olympia Bover +1 more
TL;DR: In this paper, a framework for efficient IV estimators of random effects models with information in levels which can accommodate predetermined variables is presented. But the authors do not consider models with predetermined variables that have constant correlation with the effects.
Journal ArticleDOI
Separation of ownership and control
Eugene F. Fama,Michael C. Jensen +1 more
TL;DR: The authors argue that the separation of decision and risk-bearing functions observed in large corporations is common to other organizations such as large professional partnerships, financial mutuals, and nonprofits. But they do not consider the role of decision agents in these organizations.
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