A central problem in conducting an event study of the valuation effects of corporate governance reforms is that most reforms affect all firms in a country. Share price changes may reflect the reforms, but could also reflect other information. We...Read more
We investigate how company-level corporate governance practices and country-level legal investor protection jointly affect company performance. We find that in any legal regime a few specific governance practices improve performance. Companies...Read more
Prof. Robert M. Daines (Stanford Law School) presents his paper on "Can Staggered Boards Improve Value? Evidence from the Massachusetts Natural Experiment" at the 2016 GCGC Conference in Stockholm. Discussion of the paper is then presented by Prof. Renee Adams (UNSW Business School, University of New South Wales).