The development of U.S. corporate law has traditionally been explained through a race model: jurisdictions compete for corporate franchise taxes and thus corporate law converges towards efficiency. Recent critiques have undermined this argument without presenting a new model in its place. This paper develops theoretically and tests empirically two alternative theories of corporate law developme...

Established firms often face significant obstacles to innovation. As a solution, it has been suggested to form corporate ventures. Based on a sample of corporate and independent ventures in German manufacturing, we show that corporate ventures are more innovative than the control group, i.e. the independent ventures. In particular, corporate ventures are more successful at developing radical in...

This Article analyzes corporate speech problems through the framework of corporate law. The focus here is on the "discourse norms" that regulate corporate speech to various corporate stakeholders, including shareholders, workers, and consumers. I argue that these "discourse norms" should be understood as default terms in the "nexus-of-contracts" that comprises the corporation. Having reviewed t...

Using Panel Data methods, this paper examines the impact of institutional investors on corporate governance and corporate performance, based on samples of familial listed companies in China from 2006 to 2008. The research shows that after investing in familial listed companies, institutional investors would play an important role to improve corporate governance. Simultaneously, the proportion o...

The aim of the paper is to define the role of corporate responsibility in sustainable development of global firms. To be successful, global firms must be on the alert of emerging environmental trends and do their best to improve the corporate performance in line with key stakeholder expectations. In this respect, the management of corporate social responsibility highlights the criticality of th...

Today, women are considered as one of the main pillars of corporate decision making, which can contribute to the development and promotion of corporate initiatives and projects within the framework of the development of trust and confidence of shareholders and society. The purpose of this research is to investigate the association between the presence of women on boards of directors and tax avo...

although one of the main reasons of brand equity importance is its strategic role to provide competitive advantage in the companies, the previous studies have paid little attention to effective internal organizational factors on brand equity. some of these factors are variables of social responsibility and corporate identity. social responsibility in recent decade has become a dominant paradigm...

In this paper, we examine whether a failure-tolerant corporate culture spurs corporate innovation and increases firm value based on a sample of venture capital (VC) backed IPO firms. We develop a novel firm-specific measure of a failure-tolerant corporate culture hinging on the idea that the formation of corporate culture is largely determined by the attitudes and beliefs of its founders and ea...

TECHNICAL APPENDIX FOR MEASURING THE BURDEN OF THE CORPORATE INCOME TAX UNDER IMPERFECT COMPETITION APPENDIX A: THEORY In this section we first summarize the Davidson and Martin (1985) (DM) model of the incidence of the corporate income tax under imperfect competition and then derive a comparative static result that describes how the degree of imperfect competition affects the incidence of the ...

 In this paper, we dismiss the traditional contingency argument that corporate staff should have minimal involvement with the decisions that its divisions make, because predictability, which underlies this contingency logic, is erroneous for most large corporations at this time. We offer an alternative theory of corporate involvement for the M-form: under unpredictable environments grea...