Li, Xi; Hung, Mingyi; Fauver, Larry; Taboada, Alvaro - HKUST Institute for Emerging Market Studies (IEMS), … - 2015
We examine the impact of corporate board reforms on firm value in 41 countries. Using a difference-in-differences design, we find that firm value increases after enactment of the reforms. The valuation increase is associated with both the intensity and major components of the reform, including...