The paper analyzes the interplay of product market competition and governance on CEO compensation in Italian listed … market competition eventually prevails over family ties even in a family-controlled governance system such as in Italy. …

Most pre-crisis explanations of the various corporate governance systems have considered the separation between … this view with the co-evolution approach based on the hypothesis that politics and corporate governance influence each … a single model of corporate governance. We argue that this hypothesis provides a more convincing explanation of the past …

We analyze how interactions between corporate taxation and corporate governance affect shareholder capital. Using a …

This paper proposes a theoretical model that incorporates corporate governance into the basic CAPM, where corporate … governance affects the disutility of managerial effort and the possibility of managers to divert company resources. It shows that … corporate governance affects firms' stock returns and also how the quality of corporate governance is chosen endogenously. The …

are less disciplined by traditional governance mechanisms than non-SOEs - cut their loan guarantees. SOEs whose CEOs have … cost-effective governance mechanism when other forms of governance are ineffective. …