Description
Book SynopsisThis volume contains eight empirical papers that examine corporate governance from a number of different perspectives. Howe et al investigate how governance can influence short- and long-term performance in the case of Special Purpose Acquisition Companies; Javakhadze et al analyze limits to convergence in international corporate governance practices; Barak and Lauterbach focus on the private benefits of control; and Dong examines the relation between the discipline of options and corporate debt and the design of executive compensation. Jiang et al measure the effect of R&D expenditures on bondholders; Gondhalekar et al examine the capital market response to financial restatements; Al-Khouri reports robust evidence that privately owned banks are more risky than government-owned banks; and Luo and Jackson conclude that the positive relationship between tunneling and executive compensation implies personal benefits for controlling shareholders at the expense of minority shareholders.
Table of ContentsList of Contributors. SPAC Performance, Ownership and Corporate Governance. Limits on Convergence in International Corporate Governance Practices. Firm-Specific Factors Affecting the Private Benefits of Control in Concentrated Ownership Economies. The Joint Discipline of Option and Debt: Theory and Evidence from CEO's Equity Holding, Capital Structure, and Executive Compensation. The Effects of R&D Expenditures on Bondholders. Short- and Long-Term Share Price Reaction to Announcements of Financial Restatements. Government Ownership, Competition, and the Risk-Taking Attitude of the GCC Banking System. CEO Compensation, Expropriation, and the Balance of Power among Large Shareholders. Advances in Financial Economics. Advances in Financial Economics. Advances in Financial Economics. Copyright page.
