This paper examines the relationship between overvalued equity, managerial incentives, and corporate policy for firms listed on the Taiwan Stock Exchange. The empirical evidence reveals that firms with higher overvalued equity opt for higher leverage and hold less cash, and the sensitivity of...

We investigate whether the diversification discount occurs partly as an artifact of poor corporate governance. In panel data models, we find that the discount narrows by 16% to 21% when we add governance variables as regression controls. We also estimate Heckman selection models that account for...

В статье основное внимание уделено организационноструктурным изменениям промышленных организаций в процессе модернизации российской экономики....

Using a data set of 220 Taiwanese public firms with 2,200 observations over a ten-year period representing Taiwan’s economic takeoff period in the late 1990s, as well as six follow-up interviews conducted with top managers several years hence, this research examines the propensity of an...

Für das Untersuchungsfeld 2 stellte sich die Aufgabe, die Umsetzung des gesetzlichen Auftrags bei den kommunalen Trägern und bei den ARGEn zu untersuchen.

This paper establishes a causal effect of product market competition on various characteristics of organizational design. Using a unique panel dataset on firm hierarchies of large U.S. firms (1986-1999) and a quasi-natural experiment (trade liberalization), we find that increasing competition...

This paper establishes a causal effect of competition from trade liberalization on various characteristics of organizational design. We exploit a unique panel dataset on firm hierarchies (1986-1999) of large U.S. firms and find that increasing competition leads firms to become flatter, i.e., (i)...

This paper deals with the development of corporate governance in companies in the Czech Republic and Great Britain in 2012-2013. Aim of this paper is not only to become familiar with the basic regulations of the issue, but also draw attention to the state of corporate governance in the area of...