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We document the association between a firm's payout policy and its stock's liquidity. In particular, we show that … dividend-paying firms have a more liquid market for their stock and measures of a stock's liquidity is positively linked to its … probability of being a dividend payer. Furthermore, this link between dividends and liquidity is stronger when shareholders are …
Persistent link: https://www.econbiz.de/10008871305
This paper is aimed at explaining why higher concentrations of the ownership of large firms do not necessarily and automatically facilitate lower risk taking levels – where there is scope for the abuse of powers. As well as illustrating why effective corporate governance systems are essential...
Persistent link: https://www.econbiz.de/10008805896
successful implementation of the (two fold) topics of discussion of this paper, namely, monitoring and liquidity risk …
Persistent link: https://www.econbiz.de/10008457200
This paper consolidates the work of its predecessor, “International Framework for Liquidity Risk Measurement, Standards … essential if risks,(and in particular liquidity risks which are attributed to a bank), are to be managed and measured … only in relation to liquidity risks, but also to the rise of conglomerates and consolidated undertakings. It highlights …
Persistent link: https://www.econbiz.de/10008470455
Not necessarily the most appropriate defence of stakeholder interests can be found in the institutions and practice of corporate governance, other specific kinds of legal provisions can be more suitable. In the literature the issue of protection of stakeholder interests (of employees in...
Persistent link: https://www.econbiz.de/10008674254
analyses which include a focus on China, Japan, Brazil, and South Africa, this paper not only highlights why there is need for …
Persistent link: https://www.econbiz.de/10011107937
This paper not only considers why many concentrated ownership structured systems and jurisdictions are considering a shift to the Anglo American style of corporate governance, but also explores why the traditional principal agency theory model may no longer apply in many concentrated ownership...
Persistent link: https://www.econbiz.de/10011109640
This paper not only considers why many concentrated ownership structured systems and jurisdictions are considering a shift to the Anglo American style of corporate governance, but also explores why the traditional principal agency theory model may no longer apply in many concentrated ownership...
Persistent link: https://www.econbiz.de/10011112064
The welfare state was created after 1950 with counterproductive mechanisms and this caused high inflation and high unemployment and stagnating growth by 1970, called stagflation. Since 1970 governments redressed the welfare state but did not succeed in finding workable mechanisms. They rather...
Persistent link: https://www.econbiz.de/10011108214
The paper assembles data on over 1,000 manufacturing and services firms in India for the entire post-reform period from 1992 through 2002 to examine the association between corporate governance and monetary policy. The findings suggests that (a) public firms are relatively more responsive to a...
Persistent link: https://www.econbiz.de/10008476391