Showing 1 - 10 of 13
We show that country characteristics explain most of the cross-sectional variation in bank board independence. In contrast, country characteristics have little explanatory power for the fraction of outside bank directors with experience in the banking industry. Exploiting the time-series...
Persistent link: https://www.econbiz.de/10009493188
The list of barriers to female representation in management is analogous to the list of barriers to female labor force participation. Accordingly, we examine whether low female labor force participation is the main reason few women hold seats on corporate boards using data from 22 countries over...
Persistent link: https://www.econbiz.de/10010686495
We investigate the hypothesis that shareholder empowerment may have led to more bank bailouts during the recent financial crisis. To test this hypothesis, we propose a management insulation index based on banks’ charter and by-law provisions and on the provisions of the applicable state...
Persistent link: https://www.econbiz.de/10010686502
This paper investigates the effect of the Sarbanes-Oxley Act (SOX) on the relation between institutional ownership (IO) and firm innovation. We find that US firms investing in innovation attract more institutional capital post-SOX. Prior literature identifies two SOX effects on the average US...
Persistent link: https://www.econbiz.de/10011104367
We examine the effect of IFRS (International Financial Reporting Standards) on the type of performance measures firms use to evaluate and reward their managers. We show that post-IFRS firms decrease the weight of Earnings-per-Share (EPS)-based performance measures in CEO pay contracts. We argue...
Persistent link: https://www.econbiz.de/10011116256
Persistent link: https://www.econbiz.de/10011120625
This paper shows that institutional sell-side herding increased bid–ask spreads and liquidity risk during the 2007–8 financial crisis. Such an impact on liquidity is most pronounced in firms with large numbers of institutions that sold the same stocks, that is, have correlated trades. For...
Persistent link: https://www.econbiz.de/10010730270
This paper investigates the relationship between a CEO’s social network, firm identity, and firm performance. There are two competing theories that predict contradictory outcomes. Following social network theory, one would expect a positive relation between social networks and firm...
Persistent link: https://www.econbiz.de/10010884592
This paper examines the investment preferences of foreign institutional investors investing in the U.S. market. We analyse both firm and country-level determinants that influence the foreign institutional investors' allocation choices. At the country level, we find that the governance quality in...
Persistent link: https://www.econbiz.de/10011048480
Persistent link: https://www.econbiz.de/10011037745