Large Shareholder Activism in Corporate Governance in Developing Countries: Evidence from India
Jayati Sarkar,Subrata Sarkar +1 more
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TLDR
In this paper, the authors provided evidence on the role of large shareholders in monitoring company value with respect to a developing and emerging economy, India, whose corporate governance system is a hybrid of the outsider-dominated market based systems of the UK and the US, and the insider-dominated bank-based systems of Germany and Japan.Citations
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Regression Diagnostics: Identifying Influential Data and Sources of Collinearity
TL;DR: This chapter discusses Detecting Influential Observations and Outliers, a method for assessing Collinearity, and its applications in medicine and science.
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Corporate Governance in Asia: A Survey
Stijn Claessens,Joseph P. H. Fan +1 more
TL;DR: In this article, the authors review the literature on corporate governance issues in Asia to develop region-specific and general lessons, and show that conventional and alternative corporate governance mechanisms can have limited effectiveness in systems with weak institutions and poor property rights.
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Ownership Structure and Corporate Performance
Harold Demsetz,Belen Villalonga +1 more
TL;DR: In this article, the authors investigated the relation between the ownership structure and the performance of corporations if ownership is made multi-dimensional and also is treated as an endogenous variable, and found no statistically significant relation between ownership structures and firm performance, consistent with the view that diffuse ownership, while it may exacerbate some agency problems, also yields compensating advantages that generally offset such problems.
The journal of political economy
TL;DR: In this paper, the authors explore a hypothesis, based on acIcumulating evidence, regarding the character of inventions likely to issue from the research laboratories of the large industrial corporations.
Journal ArticleDOI
Corporate Governance in Asia: A Survey
Stijn Claessens,Joseph P. H. Fan +1 more
TL;DR: In this article, the authors review the literature on corporate governance issues in Asia to develop region-specific and general lessons, and show that conventional and alternative corporate governance mechanisms can have limited effectiveness in systems with weak institutions and poor property rights.
References
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Theory of the firm: Managerial behavior, agency costs and ownership structure
TL;DR: In this article, the authors draw on recent progress in the theory of property rights, agency, and finance to develop a theory of ownership structure for the firm, which casts new light on and has implications for a variety of issues in the professional and popular literature.
Journal ArticleDOI
A Heteroskedasticity-Consistent Covariance Matrix Estimator and a Direct Test for Heteroskedasticity
TL;DR: In this article, a parameter covariance matrix estimator which is consistent even when the disturbances of a linear regression model are heteroskedastic is presented, which does not depend on a formal model of the structure of the heteroSkewedness.
Posted Content
Law and Finance
Rafael La Porta,Rafael La Porta,Florencio Lopez de Silanes,Florencio Lopez de Silanes,Andrei Shleifer,Andrei Shleifer,Robert W. Vishny,Robert W. Vishny +7 more
TL;DR: This paper examined legal rules covering protection of corporate shareholders and creditors, the origin of these rules, and the quality of their enforcement in 49 countries and found that common law countries generally have the best, and French civil law countries the worst, legal protections of investors.
Journal ArticleDOI
Law and Finance
TL;DR: In this article, the authors examined legal rules covering protection of corporate shareholders and creditors, the origin of these rules, and the quality of their enforcement in 49 countries and found that common-law countries generally have the strongest, and French civil law countries the weakest, legal protections of investors, with German- and Scandinavian-civil law countries located in the middle.
Posted Content
A Survey of Corporate Governance
TL;DR: The authors surveys research on corporate governance, with special attention to the importance of legal protection of investors and of ownership concentration in corporate governance systems around the world, and presents a survey of the literature.