Working Paper
Are Buybacks Good for Long-Term Shareholder Value? Evidence from Buybacks around the World
Using a sample of over 9,000 buyback announcements from 31 non-U.S. countries, we find support for the results of studies based on U.S. data: on average,...
Read moreRegulatory Show and Tell: Lessons from International Statutory Regimes
Historically, the evolution and growth of American corporate law has occurred with only limited and sporadic attention to international corporate...
Read moreAccounting and Convergence in Corporate Governance: Doctrinal or Economic Path Dependence?
Convergence in corporate governance has been debated for more than 20 years. This paper seeks to explain convergence – and the lack thereof – in...
Read moreInternational Corporate Governance
We survey two generations of research on corporate governance systems around the world, concentrating on countries other than the United States. The...
Read moreCorporate Inversions: Going Beyond Tax Incentives
We study tax and non-tax incentives for corporate inversions in a hand-collected dataset of 691 inversions out of 11 home countries into 45 host...
Read moreExtraterritorial Financial Regulation: Why E.T. Can?t Come Home
Systemic risk poses a classic ?public goods? problem. All nations want systemic stability, but most would prefer that other nations pay for it, allowing...
Read moreUniversal Corporate Governance
A widely accepted principle in finance is that good corporate governance is associated with higher firm value. However, what is “good governance”...
Read moreSocially Responsible Corporate Customers
Corporate customers are an important stakeholder in global supply chains. We employ several unique international databases to test whether socially...
Read moreOutside Director Liability Across Countries
Settlements reached in 2005 in securities litigation involving Enron and WorldCom highlighted the financial risks faced by outside directors of...
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