ABSTRACT A dedicated investor relations (IR) function facilitates direct and ongoing dialog between management shareholders. This paper examines whether this form of engagement mitigates activism that relies upon support from other We find IR is associated with increased confidence in the board, as well a lower likelihood activism, deterrent effect becoming stronger when there are fewer frictio...

The literature on corporate governance has highlighted the importance of board characteristics related to firm innovation. However, empirical findings have not been totally conclusive, and some seem contradictory. Adopting a new perspective, we tried help resolve puzzle using meta-analysis that integrates from 96 previous studies analyze relationship between attributes, grouped by their relatio...

ABSTRACT Although determinants of cross-border merger and acquisitions (M&As) have received substantial attention in the literature, research examining effect tax system characteristics on M&As is more limited. Cross-border implications for both acquiring firm target firm. Because firms evaluate investments based expected after-tax returns, I expect that managers consider potential savi...

This research examines how profitability, company size, board independence, and gender diversity affect carbon emission disclosures in Indonesian companies. The sample of this study consists 36 manufacturing companies which were consecutively listed on Stock Exchange from 2015 to 2018. measured using a disclosure checklist consisting 18 items. Using multiple regression analysis, found that are ...

In this study, effect of corporate governance committee structure on compliance rating (CGCR) was investigated, based the assumption that may affect CGCR in terms its roles and responsibilities. Firms included XKURY are selected as a sample study. Statistical analyses carried out for existence specified relationship by using data companies question period 2014-2020. Independent variables study ...

This paper reviews the empirical literature on the corporate governance of banks. We start by highlighting the main differences between banks and non-financial firms and focus on three characteristics which make banks special: (i) regulation, (ii) the capital structure of banks, and (iii) the complexity and opacity of their business and structure. Next, we discuss the characteristics of corpora...

Micro…nance is typically associated with joint liability of group members. However, a large part of micro…nance institutions rather o¤ers individual instead of group loans. We analyze the incentive mechanisms in both individual and group contracts. Moreover, we show that micro…nance institutions o¤er group loans when the loan size is rather large, re…nancing costs are high, and competition betw...

This paper shows bank mergers that enhance value upon announcement can be distinguished from those that do not create value. I classify mergers of banking firms according to activity and geographic similarity (focus) or dissimilarity (diversification), and examine the abnormal returns to each group as a result of the merger announcement. Mergers that focus both activity and geography enhance st...

Exploiting the analogy with the private provision of a public good, this paper studies debt restructuring with an arbitrary number of creditors using mechanism design. Creditors differ in the value they expect to receive in bankruptcy, and this value is private information. As with public goods, too little debt forgiveness is granted in equilibrium relative to the first best. Creditors are more...