This paper develops a framework for devising an adequate financial architecture for the so-called "new economy" firms, suggesting that these firms need a distinct and different optimal capital structure and corporate control or corporate governance mechanisms. It is shown that an adequate...

This book aims to disentangle the complex relationship between innovation and its potential determinants, paying special attention to the roles of governance and regulatory frameworks, and the ways in which the latter interact with other drivers of innovation such as competition and the...

This book contributes to the growing governance literature in three ways. First, it extends the analysis to new areas such as power asymmetry, regulation, transnational company strategies, and law enforcement. Secondly, it examines the role of formal institutions that shape and enforce the...

This paper analyzes the relationship around the world between the underpricing of IPOs and a country's legal framework. From the theoretical research we expect a negative relationship between a higher level of investor protection (and other measures of a country's legal framework) and the level...

Using a large firm-level dataset of 2920 IPOs from 21 countries we examine the impact of country-level institutional characteristics on the underpricing of IPOs. Through hierarchical linear modeling we are able to control for firm-specific and issue-specific characteristics and test whether...