International Corporate Governance Spillovers
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International Corporate Governance Spillovers
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Author : Rui Albuquerque
language : en
Publisher: International Monetary Fund
Release Date : 2013-11-12
International Corporate Governance Spillovers written by Rui Albuquerque and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-11-12 with Business & Economics categories.
We develop and test the hypothesis that foreign direct investment promotes corporate governance spillovers in the host country. Using firm-level data on cross-border mergers and acquisitions (M&A) and corporate governance in 22 countries, we find that cross-border M&As are associated with subsequent improvements in the governance, valuation, and productivity of the target firms’ local rivals. This positive spillover effect is stronger when the acquirer is from a country with stronger shareholder protection and if the target’s industry is more competitive. We conclude that the international market for corporate control promotes the adoption of better corporate governance practices around the world.
International Corporate Governance Spillovers
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Author : Rui Albuquerque
language : en
Publisher:
Release Date : 2015
International Corporate Governance Spillovers written by Rui Albuquerque and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015 with Consolidation and merger of corporations categories.
We test the hypothesis that foreign direct investment promotes corporate governance spillovers in the host country non-target firms. Using firm-level data from 22 countries, we find that cross-border M&A activity is associated with subsequent improvements in the governance of target firms' rivals. The spillover is more pronounced when the acquirer's country has stronger investor protection than the target's country, and when the target operates in a competitive industry. Cross-border M&As also lead to increases in valuation and reductions in overinvestment of non-target firms. Our results suggest that the international market for corporate control promotes functional convergence in corporate governance.
International Corporate Governance Spillovers
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Author : Rui A. Albuquerque
language : en
Publisher:
Release Date : 2018
International Corporate Governance Spillovers written by Rui A. Albuquerque and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018 with categories.
We test the hypothesis that foreign direct investment promotes corporate governance spillovers in the host country. Using firm-level data from 64 countries during the period 2005-2014, we find that cross-border M&A activity is associated with subsequent improvements in the governance of non-target firms when the acquirer country has stronger investor protection than the target country. The effect is more pronounced when the target industry is more competitive. Cross-border M&As are also associated with increases in investment and valuation of non-target firms. Alternative explanations such as access to global financial markets and cultural similarities do not appear to explain our findings.
Geopolitical Risk Sustainability And Cross Border Spillovers In Emerging Markets Volume I
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Author : Michael I. C. Nwogugu
language : en
Publisher: Springer Nature
Release Date : 2021-08-30
Geopolitical Risk Sustainability And Cross Border Spillovers In Emerging Markets Volume I written by Michael I. C. Nwogugu and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-08-30 with Business & Economics categories.
Economic recessions, social networks, environmental damage in several large countries (eg. China, Brazil, U.S.), the Global Financial Crisis of 2007-2015 and cross-border spillovers continue to significantly affect economic systems, financial markets, social structures and environmental compliance worldwide. These have rekindled economists’ and policy-makers’ interest in the relationships among constitutions, risk regulation, foreign aid, political systems, government size, credit expansion and sustainable growth. Risk regulation remains highly ineffective as manifested by the failures of new financial regulations and government stimulus programs that were implemented during 2007-2020 in many developed countries and emerging markets countries. This book, the first of two volumes, addresses these issues in the context of the role of constitutional economics and economic psychology as tools for national and global sustainable growth and risk management. Furthermore, this volume analyzes the often symbiotic relationship between alternative sets of legal-institutional-constitutional rules that constrain the choices and activities of economic and political agents on one hand, and sustainable growth, financial regulation and the risk management of financial institutions on the other; and reviews the effects of constitutions and legal institutions on market dynamics (real estate; fixed-income, stocks; etc.) including volatility, market depth and liquidity. This book will help researchers develop better artificial intelligence and decision-systems models of geopolitical risk, public policy and international capital flows, all of which are increasingly relevant to investment managers, boards-of-directors and government officials.
International Corporate Governance
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Author : Chris A. Mallin
language : en
Publisher: Edward Elgar Publishing
Release Date : 2006
International Corporate Governance written by Chris A. Mallin and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with Comparative management categories.
Corporate governance has become a global phenomenon. This book highlights, through case studies, how it has evolved internationally. The contributors focus on different regions around the globe, reflecting various ownership structures, legal systems, and political and cultural aspirations.
International Corporate Governance
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Author : Thomas Clarke
language : en
Publisher: Taylor & Francis
Release Date : 2023-08-29
International Corporate Governance written by Thomas Clarke and has been published by Taylor & Francis this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-08-29 with Business & Economics categories.
Thomas Clarke’s International Corporate Governance offers a panoramic guide to corporate governance and examines the recurring crises in governance and the reform around the world. This is a popular classic book but significant changes have been made to this new edition to take account of: the continuing impact of the global financial crisis and the wave of regulation development flowing from this the profound consequences of climate change and the urgent need for corporations to respond with the commitment to sustainable value creation Important elements of the work include: contemporary governance failures including BP, VW, Boeing, GM/Tesla, Apple, Purdue Pharma, and Theranos; the ongoing vitality of the diversity of corporate governance across the world; digital disruption in capital markets and initiatives to build long-term investment; the universal impact of financialization and resulting increasing inequality; the essential logic of corporate governance and corporate sustainability. The textbook contains a wealth of pedagogical material to guide the reader through this complex subject, with student questions to help with assessments and new companion website. There are 14 new forensic case analyses critically scrutinizing governance failures. International Corporate Governance is an essential text for those studying corporate governance at the advanced undergraduate, postgraduate, or executive level.
International Corporate Governance
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Author : Robert I. Tricker
language : en
Publisher:
Release Date : 1994
International Corporate Governance written by Robert I. Tricker and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1994 with Comparative management. categories.
The Handbook Of International Corporate Governance
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Author : Institute of Directors
language : en
Publisher:
Release Date : 2009
The Handbook Of International Corporate Governance written by Institute of Directors and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with Business & Economics categories.
Rev. ed. of : The handbook of international corporate governance / Chris Pierce and Kerrie Waring. 2004.
Corporate Governance Spillovers
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Author : Ing-Haw Cheng
language : en
Publisher:
Release Date : 2011
Corporate Governance Spillovers written by Ing-Haw Cheng and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011 with categories.
Failures of corporate governance at one firm spill over into short-termism and incentives for managers at other firms to manipulate earnings fraudulently due to career concerns and relative performance evaluation. The model predicts that (i) peer governance matters and that the average rate of earnings fraud should be higher when peer governance is weaker; (ii) managers should react more aggressively to changes in relative performance when peer governance is weaker; and (iii) earnings fraud should be most sensitive to peer governance when career concerns are strong. Using data on event-periods associated with fraudulent restatements, I find evidence corroborating all three predictions and the implication that a few quot;bad applesquot; can lead to increased misbehavior at other firms. By studying a specific managerial action, the paper highlights the importance of the role of career concerns and implicit incentives as well as the governance environment in influencing managerial behavior.
International Corporate Governance
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Author :
language : en
Publisher: Emerald Group Publishing
Release Date : 2015-10-01
International Corporate Governance written by and has been published by Emerald Group Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-10-01 with Business & Economics categories.
Advances in Financial Economics, volume 18, will present research on corporate governance both in the US and globally. The volume will aim at providing a deeper understanding of corporate governance practices, trends, innovations and challenges using international data.
