International

Shareholder wealth effects of European domestic and cross-border takeover bids

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,...

Regulatory 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...

Accounting 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...

International Corporate Governance

We survey two generations of research on corporate governance systems around the world, concentrating on countries other than the United States. The...

Corporate 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...

Extraterritorial 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...

Universal Corporate Governance

A widely accepted principle in finance is that good corporate governance is associated with higher firm value. However, what is “good governance”...

International Differences in Cost of Equity Capital: Do Legal Institutions and Securities Regulation Matter?

The Pay Divide: (Why) Are U.S. Top Executives Paid More?

Socially Responsible Corporate Customers

Corporate customers are an important stakeholder in global supply chains. We employ several unique international databases to test whether socially...

Outside Director Liability Across Countries

Settlements reached in 2005 in securities litigation involving Enron and WorldCom highlighted the financial risks faced by outside directors of...