Shareholder Rights

Working Paper

01 September 2016

Corporate Governance Indices and Construct Validity

We conduct an exploratory analysis of how researchers can address the issue of ?construct validity?, which poses a major challenge to all studies of the effect of corporate governance on firm performance. Many corporate governance...

Bernard Black | Antonio Gledson de Carvalho | Vikramaditya Khanna | Woochan Kim | Burcin Yurtoglu
22 May 2017

Can Strong Corporate Governance Selectively Mitigate the Negative Influence of 'Special Interest' Shareholder Activists? Evidence from the Labor Market for Directors

Union and public pension funds, the most prolific institutional activists employing low-cost targeting methods, are often accused of pursuing private benefits. Extant literature finds that unions representing workers, as...

Diane Del Guercio | Tracie Woidtke
27 August 2018

Which Aspects of Corporate Governance Do and Do Not Matter in Emerging Markets

Well-constructed, country-specific “corporate governance indices” can predict higher firm values in emerging markets. However, there is little credible research on which aspects of governance drive that overall...

Bernard Black | Antonio Gledson de Carvalho | Vikramaditya Khanna | Woochan Kim | Burcin Yurtoglu

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