Despite predictions of their demise in the aftermath of the collapse of socialist economies in Eastern Europe, state-owned enterprises (SOEs) are...Read more
Concerns about short-termism have been mounting in recent years and have influenced the EU shareholder directive, the US presidential debate, and...Read more
We show theoretically and empirically that executives are paid less for their own firm’s performance and more for their rivals’ performance if an i
Most listed firms are freestanding in the U.S, while listed firms in other countries often belong to business groups: lasting structures in which l
In this paper we show that dual-class shares can be an answer to agency conflicts rather than a result of agency conflicts.
This panel discussion focused on corporate governance indices.
In a special report in 2010, the Economist magazine called the resurging state-owned mega-enterprises worldwide, especially those from emerging economies, as “Leviathan Inc.”, and warned about the danger of such state capitalism model. While traditionally state-owned firms are criticized for weaker governance and less efficiency, they are also believed to be better positioned for dealing with market externalities.
