We develop a Clawback Strength Index and show that while some firms adopt unambiguous and strong clawback provisions, others adopt weak ones. We find that strong clawback adopters experience improvements in financial reporting quality, fewer CEO turnovers, and lower CEO pay. We advance two...

Well-constructed, country-specific “corporate governance indices” can predict higher firm values in emerging markets. However, there is little credible research on which aspects of governance drive that overall relationship. We study that question across four major emerging markets (Brazil,...

Using data from the OSIRIS database, we investigate the gender wage gap in top corporate jobs for the years 2000 till 2004. We find that female managers receive 24.0 percent less in total compensation (salary, bonuses, other payments and exercised stock options) than their male colleagues. This...

A large number of empirical studies in the U.S. report that there is no cross-sectional relationship between board composition and firm performance. On the other hand, a relatively small but growing literature on boards in emerging market corporations shows that a higher level of board...

This study addresses the question of why the observed diversification patterns of family business groups (FBGs) in response to major economic and institutional developments in emerging markets contradict the predictions of the dominant theoretical perspectives. We explain how environmental...

Bu makale yönetişim sistemleri ve ülkelerin ekonomik performansı arasındaki ilişki konusunda yapılan araştırmaların bir sentezini oluşturmaya çalışmaktadır. Makalede yönetişim sistemlerinin çerçevesinin belirlenmesinde önemli rol oynadıkları düşünülen sahiplik...

The Second International conference on corporate Governance in emerging Markets is one in a series of academic events organized by the Emerging Markets Corporate Governance Network (EMCGN). The Global Corporate Governance Forum (GCGF) at the IFC endorses and supports the Network, which was first...

We investigate the gender pay gap in top corporate jobs for 2001-2007 and report that female managers receive 19 percent less in total compensation than their male colleagues. Controlling for various characteristics reduces this difference to seven percent. While the gender pay gap is slightly...

Using data for the years 2001-2007 from the OSIRIS database on the total compensation for top executive officers of publicly listed US firms, the authors analyze the gender pay gaps across the distribution of total compensation. In the estimations, the authors control for individual and firm...

This paper is a sequel to the “Sustainable Investment in Turkey, 2010” report (IFC, 2011). The original report provided a review of the then current state of the sustainable investment (SI) in Turkey and analysed the institutional prerequisites and interventions that would encourage better...