This paper investigates the link between privatization and emerging market sovereign bond spreads. We conjecture that the way privatization is implemented may help to build a favorable market sentiment by gradually building investor confidence, which should then lead to a lower required...

We investigate the impact of political institutions on corporate risk-taking. Using a large sample of non-financial firms from 77 countries covering the period from 1988 to 2008, we find that sound political institutions are positively associated with corporate risk-taking, and that this...

Recent research emphasizes that corporate governance becomes critical during economic crises, when the incentives for expropriation of minority shareholders increase. Using the high-profile Asian financial crisis of 1997–1998 and a sample of 566 firms from eight East Asian countries over...