We examine the effects of mergers on the returns to acquiring companies' shareholders for a large sample of companies from both Anglo-Saxon and non-Anglo-Saxon countries over the 1980s and 1990s. With the important exception of Japan, we find similar patterns of returns across both types of...

In recent years considerable attention has been devoted to differences across countries in the institutional environments in which corporations operate, and the consequences of these institutional differences for corporate performance. In this paper we test for the presence of differences in...

In spite of the fact that most research has concentrated on the typical agency problem between managers and dispersed shareholders, in many countries large shareholders are much more frequently observed than firms with dispersed ownership structures. While large shareholders are perceived as a...

Pharmaceutical firms frequently attract political attention due to their high accounting profitability. We study the U.S. pharmaceutical industry to test the two opposing views of how regulators use accounting information in the political process: The “public interest hypothesis” predicts...

This codebook and the related dataset and statistical code accompanies Bernard Black, Antonio Gledson de Carvalho, Vikramaditya Khanna, Woochan Kim and B. Burcin Yurtoglu, Methods for Multicountry Studies of Corporate Governance: Evidence from the BRIKT Countries, 183 Journal of Econometrics...