Corporate managers are actively engaged to take business and financial decisions which results in long term value to their shareholders. Managers pursue this goal through their investment, financing and dividend decisions. Dividend policy refers to the payout the management decides to compensate...

A growing body of literature investigates the interaction of changes in accounting standards with institutions such as investor protection laws and corporate governance mechanisms. We examine the unintended consequences of fair value accounting in determining mandated preferred dividends. We...

Although a successor to the 1997 Kyoto Protocol has not materialised yet, the 2009 Copenhagen meeting underlined the importance of China in international debates on climate and energy. This is not only based on China’s current climate emissions, but also on its expected energy use and economic...

Ever since the fall of the Berlin Wall and the implosion of the Soviet Union, centrally planned economies in Eastern and Central Europe and Central Asia have been struggling to convert their economic systems from central planning to the market. One facet of this transition is accounting...

The Caucasus is one of the most troubled hotspots in the world, with the Georgian-Abkhazian conflict already lasting seven years. In conflict between 1992 and 1998, more than 100,000 people have been displaced to western Georgia, many of them twice. The paper examines the way this exile has...

This study considers the impact of macro-institutional environments, and alterations in such environments, on organizational level behavior and performance. Specifically, it examines the relationship between firm age and growth for a large sample of Indian firms. Firms are classified as falling...

This study considers the impact of macro-institutional environments, and alterations in such environments, on organizational level behavior and performance. Specifically, it examines the relationship between firm age and growth for a large sample of Indian firms. Firms are classified as falling...

To ascertain the degree to which enterprises have soft budgets and to find the causes of softness, we surveyed 251 privatized Mongolian enterprises, asking whether state aid was expected when financial difficulties arose. One-quarter of the enterprises face soft budgets, a large proportion of...

This Written Statement presents aspects in China's corporate governance framework, state corporate ownership and control, and the Chinese Communist Party's roles in corporate governance. It was submitted as part of a testimony before the U.S.-China Economic and Security Review Commission,...

The Chinese economy has developed rapidly despite two major constraints: ill-functioning markets and a socialist past, both of which caused an environment of unenforceable contracts. In this situation the need to pool resources and to govern relational risk was paramount to the development of a...