This article reviews the recent literature on the consequences of disclosure for listed firms. Though some studies show that disclosure is desirable for shareholders because it reduces the cost of capital, and increases the value created, others provide more mixed results. The conclusion on the...

Transparency requirements are central to the third pillar of the Basel prescriptions. The purpose of this article is to offer a simple theoretical model to analyze the impact of regulatory requirements for transparency on the balance sheet and profits of banks, focusing on the implementation of...

This study examines the relationship between bank transparency and efficiency. Using a unique dataset for Russian banks, we find that transparency is important and that, among the dimensions of transparency, the transparency in board and management structure and process represents the most...

Companies can choose their place of incorporation and with it, the law governing their internal affairs. More than 60% of large public companies choose to incorporate in Delaware. Scholars have argued, for more than two decades, that it should be proof that Delaware law is efficient and have...

This paper explores the duties that controlling shareholders owe to minority shareholders, either directly or indirectly. Whereas controlling shareholder's rights are quite vast, their duties tend to be very limited. This paper affirms that a balance between controlling shareholders' rights and...

This study investigates how diverse European legal systems and financial structures influence corporate social and environmental responsibility. The argument is developed using a framework that integrates legal systems and financial structures. Hypotheses relating to environmental responsibility...