We examine the benefits and costs associated with foreign independent directors (FIDs) at U.S. corporations. We find that firms with FIDs make better cross-border acquisitions when the targets are from the home regions of FIDs. However, FIDs also display poor board meeting attendance records and...

We examine whether corporate governance mechanisms, especially the market for corporate control, affect the profitability of firm acquisitions. We find that acquirers with more antitakeover provisions experience significantly lower announcement-period abnormal stock returns. This supports the...

We present evidence on the benefits of changes in control from mergers and acquisitions. We find that the stronger the acquirer's shareholder rights relative to the target's, the higher the synergy created by an acquisition. This result supports the hypothesis that acquisitions of firms with...

We examine whether executive stock options can induce excessive risk taking by managers in firms' security issue decisions. We find that CEOs whose wealth is more sensitive to stock return volatility due to their option holdings are more likely to choose debt over equity as a capital-raising...

"We present evidence that corporate venture capitalists (CVCs) add value to start-up companies only when the start-ups have a strategic fit with the parent corporations of CVCs. We find that CVCs provide a variety of services and support that suit the specific needs of start-ups operating in...

Motivated by theoretical arguments that assert a positive impact of R&D on institutions, this paper aims to provide some empirical analysis on the relationship between these two variables. In particular this paper has found a significant direct effect of institutions on R&D intensity. Countries...

Motivated by theoretical arguments that assert a negative impact of ethnolinguistic diversity on social capital, this paper aims to provide some empirical evidence on the relationship between the two variables. In particular, using a cross section sample of 68 developed and developing countries,...

Most of the wind analysis studies have been conducted under steady wind conditions. The study of real unsteady wind environment, however, is still an open-ended research question. This is attributable to the existing aerodynamic complexities under such conditions. In this paper, therefore, a...

Plasma sputtering deposition of platinum catalysts in porous anodic aluminum oxide (AAO) templates is shown to generate an anomalous superdiffusion concentration profile. The growth of an overlayer between the hexagonal array of pores is shown to enhance the diffusion into the pores, leading to...

Motivated by theoretical arguments (see e.g. Romer (2010) and Mokyr (2008)) that assert a positive impact of institutions on R&D, this paper aims to provide some empirical analysis on the relationship between the two variables. In particular, using a core sample of 98 countries over the period...