We examine whether boards are sufficiently well-informed to make efficient decisions on CEO compensation. In order to mitigate the endogeneity of board decision on CEO compensation, we use mutual fund flow-driven trading pressure as an exogenous shock to stock price informativeness. Consistent...

Publicly traded emerging market affiliates of large multinational corporations (headquartered and mostly also listed in developed markets) have shown remarkably good performance over the past fourteen years. These affiliates combined high performance with lower volatility, outperforming both...

This paper explores the robustness of the positive association between shareholder rights and abnormal stock returns (using the Fama-French-Cahart four factor model) and potential explanations thereof. Utilizing hand-collected shareholder rights data for the 1978-1989 period in conjunction with...

This is the online appendix to the paper by Cremers and Pareek (2017, forthcoming in the JFE) titled "Patient Capital Outperformance: The Investment Skill of High Active Share Managers Who Trade Infrequently," which is available at 'http://ssrn.com/abstract=2498743' http://ssrn.com/abstract=2498743