Adopting better corporate governance: Evidence from cross-border mergers
Author
Abstract
Suggested Citation
Download full text from publisher
As the access to this document is restricted, you may want to search for a different version of it.
References listed on IDEAS
- Edward Glaeser & Simon Johnson & Andrei Shleifer, 2001. "Coase Versus the Coasians," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 116(3), pages 853-899.
- Wurgler, Jeffrey, 2000.
"Financial markets and the allocation of capital,"
Journal of Financial Economics, Elsevier, vol. 58(1-2), pages 187-214.
- Jeffrey Wurgler, 1999. "Financial Markets And The Allocation Of Capital," Yale School of Management Working Papers ysm123, Yale School of Management, revised 01 Mar 2001.
- Christos Cabolis & Arturo Bris, 2004. "Corporate Governance Convergence Through Cross-Border Mergers: The Case of Aventis," Yale School of Management Working Papers amz2511, Yale School of Management, revised 01 Dec 2004.
- Daines, Robert, 2001. "Does Delaware law improve firm value?," Journal of Financial Economics, Elsevier, vol. 62(3), pages 525-558, December.
- Robert Gertner & Eric Powers & David Scharfstein, 2002. "Learning about Internal Capital Markets from Corporate Spin‐offs," Journal of Finance, American Finance Association, vol. 57(6), pages 2479-2506, December.
- Stijn Claessens & Luc Laeven, 2003.
"Financial Development, Property Rights, and Growth,"
Journal of Finance, American Finance Association, vol. 58(6), pages 2401-2436, December.
- Claessens, Stijn & Laeven, Luc, 2002. "Financial development, property rights, and growth," Policy Research Working Paper Series 2924, The World Bank.
- Claessens, Stijn & Laeven, Luc, 2002. "Financial Development, Property Rights and Growth," CEPR Discussion Papers 3295, C.E.P.R. Discussion Papers.
- Hertzel, Michael G, 1991. "The Effects of Stock Repurchases on Rival Firms," Journal of Finance, American Finance Association, vol. 46(2), pages 707-716, June.
- Johnson, Simon & Boone, Peter & Breach, Alasdair & Friedman, Eric, 2000.
"Corporate governance in the Asian financial crisis,"
Journal of Financial Economics, Elsevier, vol. 58(1-2), pages 141-186.
- Eric Friedman & Simon Johnson & Peter Boone & Alasdair Breach, 1999. "Corporate Governance in the Asian Financial Crisis," Departmental Working Papers 199920, Rutgers University, Department of Economics.
- Simon Johnson & Peter Boone & Alasdair Breach & Eric Friedman, 1999. "Corporate Governance in the Asian Financial Crisis," William Davidson Institute Working Papers Series 297, William Davidson Institute at the University of Michigan.
- Rafael La Porta & Florencio Lopez‐De‐Silanes & Andrei Shleifer & Robert Vishny, 2002.
"Investor Protection and Corporate Valuation,"
Journal of Finance, American Finance Association, vol. 57(3), pages 1147-1170, June.
- Rafael La Porta & Florencio Lopez-de-Silanes & Andrei Shleifer & Robert Vishny, 1999. "Investor Protection and Corporate Valuation," Harvard Institute of Economic Research Working Papers 1882, Harvard - Institute of Economic Research.
- La Porta, Rafael & Lopez-De-Silanes, Florencio & Shleifer, Andrei & Vishny, Robert, 2002. "Investor Protection and Corporate Valuation," Scholarly Articles 30747191, Harvard University Department of Economics.
- Rafael La Porta & Florencio Lopez-de-Silanes & Andrei Shleifer & Robert W. Vishny, 1999. "Investor Protection and Corporate Valuation," NBER Working Papers 7403, National Bureau of Economic Research, Inc.
- Demirguc-Kunt, Asli & Maksimovic, Vojislav, 1999. "Institutions, financial markets, and firm debt maturity," Journal of Financial Economics, Elsevier, vol. 54(3), pages 295-336, December.
- Eckbo, B Espen, 1985. "Mergers and the Market Concentration Doctrine: Evidence from the Capital Market," The Journal of Business, University of Chicago Press, vol. 58(3), pages 325-349, July.
- Ari Hyytinen & Iikka Kuosa & Tuomas Takalo, 2003.
"Law or Finance: Evidence from Finland,"
European Journal of Law and Economics, Springer, vol. 16(1), pages 59-89, July.
- Hyytinen, Ari & Kuosa, Iikka & Takalo, Tuomas, 2002. "Law or finance: evidence from Finland," Bank of Finland Research Discussion Papers 8/2002, Bank of Finland.
- Doidge, Craig & Andrew Karolyi, G. & Stulz, Rene M., 2007.
"Why do countries matter so much for corporate governance?,"
Journal of Financial Economics, Elsevier, vol. 86(1), pages 1-39, October.
- Doidge, Craig & Karolyi, G. Andrew & Stulz, Rene M., 2004. "Why Do Countries Matter So Much for Corporate Governance?," Working Paper Series 2004-16, Ohio State University, Charles A. Dice Center for Research in Financial Economics.
- Rene M. Stulz & Craig Doidge & Andrew Karolyi, 2004. "Why Do Countries Matter So Much for Corporate Governance?," NBER Working Papers 10726, National Bureau of Economic Research, Inc.
- K. J. Martijn Cremers & Vinay B. Nair, 2005.
"Governance Mechanisms and Equity Prices,"
Journal of Finance, American Finance Association, vol. 60(6), pages 2859-2894, December.
- K.J. Martijn Cremers & Vinay B. Nair, 2003. "Governance Mechanisms and Equity Prices," Yale School of Management Working Papers ysm376, Yale School of Management.
- Eckbo, B. Espen, 1983. "Horizontal mergers, collusion, and stockholder wealth," Journal of Financial Economics, Elsevier, vol. 11(1-4), pages 241-273, April.
- Rafael La Porta & Florencio Lopez-de-Silanes & Andrei Shleifer & Robert W. Vishny, 1998.
"Law and Finance,"
Journal of Political Economy, University of Chicago Press, vol. 106(6), pages 1113-1155, December.
- Rafael LaPorta & Florencio Lopez-de-Silanes & Andrei Shleifer & Robert W. Vishny, "undated". "Law and Finance," Working Paper 19451, Harvard University OpenScholar.
- La Porta, Rafael & Lopez-de-Silanes, Florencio & Shleifer, Andrei & Vishny, Robert W., 1998. "Law and Finance," Scholarly Articles 3451310, Harvard University Department of Economics.
- Rafael LaPorta & Florencio Lopez de-Silanes & Andrei Shleifer & Robert W. Vishny, 1996. "Law and Finance," Harvard Institute of Economic Research Working Papers 1768, Harvard - Institute of Economic Research.
- Porta, Rafael & Lopez-de-Silanes, Florencio & Shleifer, Andrei & Vishny, Robert, 1997. "Law And Finance," Harvard Institute for International Development (HIID) Papers 294393, Harvard University, Kennedy School of Government.
- Rafael La Porta & Florencio Lopez-de-Silane & Andrei Shleifer & Robert W. Vishny, 1996. "Law and Finance," NBER Working Papers 5661, National Bureau of Economic Research, Inc.
- Rajan, Raghuram G & Zingales, Luigi, 1998.
"Financial Dependence and Growth,"
American Economic Review, American Economic Association, vol. 88(3), pages 559-586, June.
- Raghuram G. Rajan & Luigi Zingales, "undated". "Financial Dependence and Growth," CRSP working papers 344, Center for Research in Security Prices, Graduate School of Business, University of Chicago.
- Raghuram G. Rajan & Luigi Zingales, 1996. "Financial Dependence and Growth," NBER Working Papers 5758, National Bureau of Economic Research, Inc.
- Rossi, Stefano & Volpin, Paolo F., 2004.
"Cross-country determinants of mergers and acquisitions,"
Journal of Financial Economics, Elsevier, vol. 74(2), pages 277-304, November.
- Volpin, Paolo & Rossi, Stefano, 2003. "Cross-Country Determinants of Mergers and Acquisitions," CEPR Discussion Papers 3889, C.E.P.R. Discussion Papers.
- Marina Martynova & Luc Renneboog, 2010.
"Spillover of Corporate Governance Standards in Cross-Border Mergers and Acquisition,"
Chapters, in: Alessio M. Pacces (ed.), The Law and Economics of Corporate Governance, chapter 3,
Edward Elgar Publishing.
- Martynova, Marina & Renneboog, Luc, 2008. "Spillover of corporate governance standards in cross-border mergers and acquisitions," Journal of Corporate Finance, Elsevier, vol. 14(3), pages 200-223, June.
- Martynova, M. & Renneboog, L.D.R., 2008. "Spillover of Corporate Governance Standards in Cross-Border Mergers and Acquisitions," Other publications TiSEM 6e13d8f6-4239-4c1b-a6e1-e, Tilburg University, School of Economics and Management.
- Martynova, M. & Renneboog, L.D.R., 2008. "Spillover of Corporate Governance Standards in Cross-Border Mergers and Acquisitions," Discussion Paper 2008-18, Tilburg University, Center for Economic Research.
- Martynova, M. & Renneboog, L.D.R., 2008. "Spillover of Corporate Governance Standards in Cross-Border Mergers and Acquisitions," Discussion Paper 2008-008, Tilburg University, Tilburg Law and Economic Center.
- Martynova, M. & Renneboog, L.D.R., 2008. "Spillover of Corporate Governance Standards in Cross-Border Mergers and Acquisitions," Other publications TiSEM c21c2683-9244-4ee2-be47-0, Tilburg University, School of Economics and Management.
- Paul Gompers & Joy Ishii & Andrew Metrick, 2003.
"Corporate Governance and Equity Prices,"
The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 118(1), pages 107-156.
- Paul A. Gompers & Joy L. Ishii & Andrew Metrick, 2001. "Corporate Governance and Equity Prices," NBER Working Papers 8449, National Bureau of Economic Research, Inc.
- Paul A. Gompers & Joy L. Ishii & Andrew Metrick, 2002. "Corporate Governance and Equity Prices," Center for Financial Institutions Working Papers 02-32, Wharton School Center for Financial Institutions, University of Pennsylvania.
- repec:bla:jfinan:v:59:y:2004:i:2:p:537-600 is not listed on IDEAS
- Akhigbe, Aigbe & Martin, Anna D., 2000. "Information-signaling and competitive effects of foreign acquisitions in the US," Journal of Banking & Finance, Elsevier, vol. 24(8), pages 1307-1321, August.
- Bergman, Nittai K. & Nicolaievsky, Daniel, 2007. "Investor protection and the Coasian view," Journal of Financial Economics, Elsevier, vol. 84(3), pages 738-771, June.
- Hyun-Han Shin & René M. Stulz, 1998. "Are Internal capital Markets Efficient?," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 113(2), pages 531-552.
- Marco Pagano & Paolo F. Volpin, 2005.
"The Political Economy of Corporate Governance,"
American Economic Review, American Economic Association, vol. 95(4), pages 1005-1030, September.
- Marco Pagano & Paolo Volpin, 1999. "The Political Economy of Corporate Governance," CSEF Working Papers 29, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy, revised 01 Jul 2005.
- Pagano, Marco & Volpin, Paolo, 2001. "The Political Economy of Corporate Governance," CEPR Discussion Papers 2682, C.E.P.R. Discussion Papers.
- Gregoriou, Greg N. & Renneboog, Luc, 2007. "International Mergers and Acquisitions Activity Since 1990," Elsevier Monographs, Elsevier, edition 1, number 9780750682893.
- Gregor Andrade & Mark Mitchell & Erik Stafford, 2001. "New Evidence and Perspectives on Mergers," Journal of Economic Perspectives, American Economic Association, vol. 15(2), pages 103-120, Spring.
- Himmelberg, Charles P. & Hubbard, R. Glenn & Love, Inessa, 2002. "Investor protection, ownership, and the cost of capital," Policy Research Working Paper Series 2834, The World Bank.
- Almeida, Heitor & Wolfenzon, Daniel, 2005. "The effect of external finance on the equilibrium allocation of capital," Journal of Financial Economics, Elsevier, vol. 75(1), pages 133-164, January.
- Beck, Thorsten & Levine, Ross, 2002.
"Industry growth and capital allocation:*1: does having a market- or bank-based system matter?,"
Journal of Financial Economics, Elsevier, vol. 64(2), pages 147-180, May.
- Thorsten Beck & Ross Levine, 2002. "Industry Growth and Capital Allocation: Does Having a Market- or Bank-Based System Matter?," NBER Working Papers 8982, National Bureau of Economic Research, Inc.
- repec:bla:jfinan:v:53:y:1998:i:6:p:2107-2137 is not listed on IDEAS
- Steven N. Kaplan & Luigi Zingales, 1997. "Do Investment-Cash Flow Sensitivities Provide Useful Measures of Financing Constraints?," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 112(1), pages 169-215.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Arturo Bris & Christos Cabolis, 2002.
"Corporate Governance Convergence by Contract: Evidence from Cross-Border Mergers,"
Yale School of Management Working Papers
ysm293, Yale School of Management, revised 01 Jan 2003.
- Arturo Bris & Christos Cabolis, 2002. "Corporate Governance Convergence by Contract: Evidence from Cross-Border Mergers," Yale School of Management Working Papers ysm293, Yale School of Management, revised 01 Jan 2003.
- Arturo Bris & Christos Cabolis, 2008.
"The Value of Investor Protection: Firm Evidence from Cross-Border Mergers,"
Review of Financial Studies, Society for Financial Studies, vol. 21(2), pages 605-648, April.
- Arturo Bris & Christos Cabolis, 2005. "The Value of Investor Protection: Firm Evidence from Cross-Border Mergers," Yale School of Management Working Papers amz2455, Yale School of Management.
- Claessens, Stijn & Yurtoglu, B. Burcin, 2013. "Corporate governance in emerging markets: A survey," Emerging Markets Review, Elsevier, vol. 15(C), pages 1-33.
- Meghana Ayyagari & Asli Demirgüc-Kunt & Vojislav Maksimovic, 2008.
"How Well Do Institutional Theories Explain Firms' Perceptions of Property Rights?,"
The Review of Financial Studies, Society for Financial Studies, vol. 21(4), pages 1833-1871, July.
- Ayyagari, Meghana & Demirguc-Kunt, Asli & Maksimovic, Vojislav, 2005. "How well do institutional theories explain firms'perceptions of property rights?," Policy Research Working Paper Series 3709, The World Bank.
- Arturo Bris & Christos Cabolis, 2008.
"The Value of Investor Protection: Firm Evidence from Cross-Border Mergers,"
The Review of Financial Studies, Society for Financial Studies, vol. 21(2), pages 605-648, April.
- Arturo Bris & Christos Cabolis, 2005. "The Value of Investor Protection: Firm Evidence from Cross-Border Mergers," Yale School of Management Working Papers amz2455, Yale School of Management.
- Andrei Shleifer & Florencio Lopez-de-Silanes & Rafael La Porta, 2008.
"The Economic Consequences of Legal Origins,"
Journal of Economic Literature, American Economic Association, vol. 46(2), pages 285-332, June.
- Rafael La Porta & Florencio Lopez-de-Silanes & Andrei Shleifer, 2007. "The Economic Consequences of Legal Origins," NBER Working Papers 13608, National Bureau of Economic Research, Inc.
- Lopez-de-Silanes, Florencio & La Porta, Rafael & Shleifer, Andrei, 2008. "The Economic Consequences of Legal Origins," Scholarly Articles 2962610, Harvard University Department of Economics.
- Bruno, Valentina & Claessens, Stijn, 2010.
"Corporate governance and regulation: Can there be too much of a good thing?,"
Journal of Financial Intermediation, Elsevier, vol. 19(4), pages 461-482, October.
- Bruno, Valentina G. & Claessens, Stijn, 2006. "Corporate governance and regulation: can there be too much of a good thing?," LSE Research Online Documents on Economics 24633, London School of Economics and Political Science, LSE Library.
- Bruno, Valentina G. & Claessens, Stijn, 2007. "Corporate governance and regulation : can there be too much of a good thing ?," Policy Research Working Paper Series 4140, The World Bank.
- Stijn Claessen & Valentina Bruno, 2006. "Corporate Governance and Regulation: Can There Be Too Much of a Good Thing?," FMG Discussion Papers dp574, Financial Markets Group.
- Claessens, Stijn & Bruno, Valentina, 2007. "Corporate Governance and Regulation: Can There Be Too Much of a Good Thing?," CEPR Discussion Papers 6108, C.E.P.R. Discussion Papers.
- Beck, Thorsten & Demirguc-Kunt, Asli & Levine, Ross, 2003.
"Law and finance: why does legal origin matter?,"
Journal of Comparative Economics, Elsevier, vol. 31(4), pages 653-675, December.
- Thorsten Beck & Asli Demirguc-Kunt & Ross Levine, 2002. "Law and Finance: Why Does Legal Origin Matter?," NBER Working Papers 9379, National Bureau of Economic Research, Inc.
- Beck, Thorsten & Demirguc-Kunt, Asli & Levine, Ross, 2002. "Law and finance : why does legal origin matter?," Policy Research Working Paper Series 2904, The World Bank.
- Thorsten Beck & Ross Levine, 2008.
"Legal Institutions and Financial Development,"
Springer Books, in: Claude Ménard & Mary M. Shirley (ed.), Handbook of New Institutional Economics, chapter 11, pages 251-278,
Springer.
- Thorsten Beck & Ross Levine, 2005. "Legal Institutions and Financial Development," Springer Books, in: Claude Menard & Mary M. Shirley (ed.), Handbook of New Institutional Economics, chapter 11, pages 251-278, Springer.
- Thorsten Beck & Ross Levine, 2003. "Legal institutions and financial development," Policy Research Working Paper Series 3136, The World Bank.
- Thorsten Beck & Ross Levine, 2003. "Legal Institutions and Financial Development," NBER Working Papers 10126, National Bureau of Economic Research, Inc.
- Thorsten Beck & Ross Levine, 2004. "Legal Institutions and Financial Development," NBER Working Papers 10417, National Bureau of Economic Research, Inc.
- Beck, T.H.L. & Levine, R., 2005. "Legal institutions and financial development," Other publications TiSEM 428ff33a-eb07-45c7-bee9-4, Tilburg University, School of Economics and Management.
- Charles Chang & Paul Moon Sub Choi & Seth H. Huang, 2015. "Do Poorly Governed Acquirers Transfer Wealth to Targets in Cross-Border Acquisitions?," Financial Management, Financial Management Association International, vol. 44(3), pages 475-498, September.
- Hussain, Tanveer & Loureiro, Gilberto, 2022. "Portability of firm corporate governance in mergers and acquisitions," Research in International Business and Finance, Elsevier, vol. 63(C).
- Renneboog, Luc & Vansteenkiste, Cara, 2019.
"Failure and success in mergers and acquisitions,"
Journal of Corporate Finance, Elsevier, vol. 58(C), pages 650-699.
- Renneboog, Luc & Vansteenkiste, C., 2019. "Failure and Success in Mergers and Acquisitions," Other publications TiSEM cb487f33-0217-412f-a1ec-d, Tilburg University, School of Economics and Management.
- Renneboog, Luc & Vansteenkiste, C., 2019. "Failure and Success in Mergers and Acquisitions," Discussion Paper 2019-026, Tilburg University, Center for Economic Research.
- Renneboog, Luc & Vansteenkiste, Cara, 2019. "Failure and success in mergers and acquisitions," Other publications TiSEM 9baa3ffc-67cb-4647-9da5-a, Tilburg University, School of Economics and Management.
- Rui Albuquerque & Luis Brandão-Marques & Miguel A Ferreira & Pedro Matos, 2019.
"International Corporate Governance Spillovers: Evidence from Cross-Border Mergers and Acquisitions,"
The Review of Financial Studies, Society for Financial Studies, vol. 32(2), pages 738-770.
- Matos, Pedro Pinto & Albuquerque, Rui & Ferreira, Miguel & Brandao-Marques, Luis, 2015. "International Corporate Governance Spillovers: Evidence from Cross-Border Mergers and Acquisitions," CEPR Discussion Papers 10917, C.E.P.R. Discussion Papers.
- Peter Blair Henry, 2007.
"Capital Account Liberalization: Theory, Evidence, and Speculation,"
Journal of Economic Literature, American Economic Association, vol. 45(4), pages 887-935, December.
- Peter Blair Henry, 2006. "Capital account liberalization: theory, evidence, and speculation," Working Paper Series 2007-32, Federal Reserve Bank of San Francisco.
- Henry, Peter B., 2007. "Capital Account Liberalization: Theory, Evidence, and Speculation," Research Papers 1974, Stanford University, Graduate School of Business.
- Peter Blair Henry, 2006. "Capital Account Liberalization: Theory, Evidence, and Speculation," NBER Working Papers 12698, National Bureau of Economic Research, Inc.
- Henry, Peter B., 2006. "Capital Account Liberalization: Theory, Evidence, and Speculation," Research Papers 1951, Stanford University, Graduate School of Business.
- Leopoldo Fergusson, 2006. "Institutions for Financial Development: What are they and where do they come from?," Journal of Economic Surveys, Wiley Blackwell, vol. 20(1), pages 27-70, February.
- Joseph P. H. Fan & Li Jin & Guojian Zheng, 2016. "Revisiting the Bright and Dark Sides of Capital Flows in Business Groups," Journal of Business Ethics, Springer, vol. 134(4), pages 509-528, April.
- Caprio, Gerard & Laeven, Luc & Levine, Ross, 2007.
"Governance and bank valuation,"
Journal of Financial Intermediation, Elsevier, vol. 16(4), pages 584-617, October.
- Gerard Caprio & Luc Laeven & Ross Levine, 2003. "Governance and Bank Valuation," NBER Working Papers 10158, National Bureau of Economic Research, Inc.
- Caprio, Gerard & Laeven, Luc & Levine, Ross, 2004. "Governance and bank valuation," Policy Research Working Paper Series 3202, The World Bank.
- Thorsten Beck & Asli Demirguc-Kunt, 2005.
"Law and Firms' Access to Finance,"
American Law and Economics Review, American Law and Economics Association, vol. 7(1), pages 211-252.
- Thorsten Beck & Asli Demirguc-Kunt & Ross Levine, 2004. "Law and Firms' Access to Finance," NBER Working Papers 10687, National Bureau of Economic Research, Inc.
- Beck, Thorsten & Demirguc-Kunt, Asli & Levine, Ross, 2004. "Law and firms'access to finance," Policy Research Working Paper Series 3194, The World Bank.
- Udayasankar, Krishna & Das, Shobha & Krishnamurti, Chandrasekhar, 2008. "When is Two Really Company? The Effects of Competition and Regulation on Corporate Governance," Working Paper Series 4020, Victoria University of Wellington, The New Zealand Institute for the Study of Competition and Regulation.
- Doidge, Craig & Andrew Karolyi, G. & Stulz, Rene M., 2007.
"Why do countries matter so much for corporate governance?,"
Journal of Financial Economics, Elsevier, vol. 86(1), pages 1-39, October.
- Rene M. Stulz & Craig Doidge & Andrew Karolyi, 2004. "Why Do Countries Matter So Much for Corporate Governance?," NBER Working Papers 10726, National Bureau of Economic Research, Inc.
- Doidge, Craig & Karolyi, G. Andrew & Stulz, Rene M., 2004. "Why Do Countries Matter So Much for Corporate Governance?," Working Paper Series 2004-16, Ohio State University, Charles A. Dice Center for Research in Financial Economics.
Corrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:corfin:v:14:y:2008:i:3:p:224-240. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/jcorpfin .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.