Purpose – The purpose of this paper is to perform an exploratory study of depositary receipts (DRs). In addition to the geographical analysis it tests several hypothesis linked to various DRs’ issues. Design/methodology/approach – Using the publicly available The Bank of New York’s (now...

Extant research has also documented the relatively inferior legal and political environment for governance that obtains in several emerging market countries. When firms from emerging markets cross-list their equity in major international markets they have to mandatorily improve their disclosure...

This article questions the validity of regression models when high correlations exist between independent variables and presents the application of VAR as an alternative technique through the comparison of two groups of selected stocks that represent components of Dow Jones and S&P 500 indices,...

Claessens, Djankov, and Lang (2000) show that corporate control is substantially enhanced by using pyramid structures and cross-holdings by firms in nine East Asian countries. Claessens, Djankov, Fan, and Lang (1999) (CDFL) provide empirical evidence regarding expropriation arising from the...

Banking Reforms in South-East Europe gives a critical and detailed overview of banking system restructuring in the transitional countries of South-Eastern Europe – Albania, Bosnia and Herzegovina, Bulgaria, Croatia, Macedonia, Romania and Yugoslavia – and offers suggestions for future reforms.

This paper presents the extensive literature survey based both on theoretical rationales for hedging as well as the empirical evidence that support the implications of the theory regarding the arguments for the corporate risk management relevance and its influence on the company’s value. The...