Why firms from around the world seek to cross-list their shares on overseas exchanges has
intrigued scholars during the past two decades. A general dissatisfaction with the …

The board of directors is legally responsible for setting the strategic direction of the firm and
for ensuring the firm's long-term performance in almost all governance environments …

We show that equity market liberalizations, on average, lead to a 1% increase in annual real
economic growth. The effect is robust to alternative definitions of liberalization and does not …

The onset of the Asian financial crisis in Malaysia reduced the expected value of
government subsidies to politically connected firms, accounting for roughly 9% of the …

In a sample of 398 firms from Indonesia, Korea, Malaysia, the Philippines, and Thailand, firm-
level differences in variables related to corporate governance had a strong impact on firm …

Corporate governance has received much attention in recent years, partly due to the Asian
financial crisis. We review the literature on corporate governance issues in Asia to develop …

At the end of 1997, foreign companies with shares cross-listed in the US had Tobin's q ratios
that were 16.5% higher than the q ratios of non-cross-listed firms from the same country. The …

This article uses managerial control rights data for over 5000 firms from 31 countries to
examine the net costs and benefits of cash holdings. We find that when external country …

This paper investigates the relation between cross listing in the United States and the
information environment of non‐US firms. We find that firms that cross list on US exchanges …

Investor protection is associated with greater investment sensitivity to q and lower
investment sensitivity to cash flow. Finance plays a role in causing these effects; in countries …