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Does strategic corporate performance depend on corporate financial architecture? Empirical study of European, Russian and other emerging market’s firms

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  • Irina Ivashkovskaya
  • Anastasia Stepanova

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  • Irina Ivashkovskaya & Anastasia Stepanova, 2011. "Does strategic corporate performance depend on corporate financial architecture? Empirical study of European, Russian and other emerging market’s firms," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 15(4), pages 603-616, November.
    • Handle: RePEc:kap:jmgtgv:v:15:y:2011:i:4:p:603-616
    DOI: 10.1007/s10997-010-9132-7
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    5. Stulz, ReneM., 1988. "Managerial control of voting rights : Financing policies and the market for corporate control," Journal of Financial Economics, Elsevier, vol. 20(1-2), pages 25-54, January.
    6. Benjamin E. Hermalin & Michael S. Weisbach, 1991. "The Effects of Board Composition and Direct Incentives on Firm Performance," Financial Management, Financial Management Association, vol. 20(4), Winter.
    7. Leland, Hayne E & Pyle, David H, 1977. "Informational Asymmetries, Financial Structure, and Financial Intermediation," Journal of Finance, American Finance Association, vol. 32(2), pages 371-387, May.
    8. Stewart C. Myers, 1999. "Financial architecture," European Financial Management, European Financial Management Association, vol. 5(2), pages 133-141, July.
    9. Demsetz, Harold & Villalonga, Belen, 2001. "Ownership structure and corporate performance," Journal of Corporate Finance, Elsevier, vol. 7(3), pages 209-233, September.
    10. Gugler, Klaus (ed.), 2001. "Corporate Governance and Economic Performance," OUP Catalogue, Oxford University Press, number 9780199245703.
    11. Jensen, Michael C. & Meckling, William H., 1976. "Theory of the firm: Managerial behavior, agency costs and ownership structure," Journal of Financial Economics, Elsevier, vol. 3(4), pages 305-360, October.
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    13. Morck, Randall & Shleifer, Andrei & Vishny, Robert W., 1988. "Management ownership and market valuation : An empirical analysis," Journal of Financial Economics, Elsevier, vol. 20(1-2), pages 293-315, January.
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    15. Leech, Dennis & Leahy, John, 1991. "Ownership Structure, Control Type Classifications and the Performance of Large British Companies," Economic Journal, Royal Economic Society, vol. 101(409), pages 1418-1437, November.
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    19. Clifford G. Holderness & Randall S. Kroszner & Dennis P. Sheehan, 1999. "Were the Good Old Days That Good? Changes in Managerial Stock Ownership Since the Great Depression," Journal of Finance, American Finance Association, vol. 54(2), pages 435-469, April.
    20. Keasey, Kevin & Short, Helen & Watson, Robert, 1994. "Directors' Ownership and the Performance of Small and Medium Sized Firms in the U.K," Small Business Economics, Springer, vol. 6(3), pages 225-236, June.
    21. McConnell, John J. & Servaes, Henri, 1990. "Additional evidence on equity ownership and corporate value," Journal of Financial Economics, Elsevier, vol. 27(2), pages 595-612, October.
    22. Claessens, Stijn & Djankov, Simeon & Lang, Larry H. P., 2000. "The separation of ownership and control in East Asian Corporations," Journal of Financial Economics, Elsevier, vol. 58(1-2), pages 81-112.
    23. Jeremy Grant & Thomas Kirchmaier, 2004. "Corporate Ownership Structure and Performance in Europe," CEP Discussion Papers dp0631, Centre for Economic Performance, LSE.
    24. William P. Lloyd & John S. Jahera Jr. & Steven J. Goldstein, 1986. "The Relation Between Returns, Ownership Structure, And Market Value," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 9(2), pages 171-177, June.
    25. Grant, Jeremy & Kirchmaier, Thomas, 2004. "Corporate ownership structure and performance in Europe," LSE Research Online Documents on Economics 19960, London School of Economics and Political Science, LSE Library.
    26. Benjamin E. Hermalin & Michael S. Weisbach, 1988. "The Determinants of Board Composition," RAND Journal of Economics, The RAND Corporation, vol. 19(4), pages 589-606, Winter.
    27. Rajeswararao Chaganti & Fariborz Damanpour, 1991. "Institutional ownership, capital structure, and firm performance," Strategic Management Journal, Wiley Blackwell, vol. 12(7), pages 479-491, October.
    28. Bajaj, Mukesh & Chan, Yuk-Shee & Dasgupta, Sudipto, 1998. "The Relationship between Ownership, Financing Decisions and Firm Performance: A Signaling Model," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 39(3), pages 723-744, August.
    29. Agrawal, Anup & Nagarajan, Nandu J, 1990. "Corporate Capital Structure, Agency Costs, and Ownership Control: The Case of All-Equity Firms," Journal of Finance, American Finance Association, vol. 45(4), pages 1325-1331, September.
    30. Pablo De Andres & Valentin Azofra & Felix Lopez, 2005. "Corporate Boards in OECD Countries: size, composition, functioning and effectiveness," Corporate Governance: An International Review, Wiley Blackwell, vol. 13(2), pages 197-210, March.
    31. Martin Hilb, 2008. "New Corporate Governance," Springer Books, Springer, edition 3, number 978-3-540-68718-4, December.
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    Citations

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    Cited by:

    1. Anastasia N. Stepanova & Olga O. Kopyrina, 2019. "The Influence Of Ownership Structure And Board Independence On The Cost Of Debt In Bric Countries," HSE Working papers WP BRP 74/FE/2019, National Research University Higher School of Economics.
    2. Muravyev, Alexander, 2017. "Boards of directors in Russian publicly traded companies in 1998–2014: Structure, dynamics and performance effects," Economic Systems, Elsevier, vol. 41(1), pages 5-25.
    3. Tatiana Varcholova & Stela Beslerova, 2013. "Ownership Structure And Company Performance – Research And Literature Review," "e-Finanse", University of Information Technology and Management, Institute of Financial Research and Analysis, vol. 9(2), pages 24-33, October.
    4. Leo Vashkor Dewri, 2022. "A Critical Assessment of Interrelationship Among Corporate Governance, Financial Performance, Refined Economic Value Added to Measure Firm Value and Return on Stock," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 13(4), pages 2718-2759, December.
    5. V. Nazarova V. & S. Glebov P. & В. Назарова В. & С. Глебов П., 2017. "Оценка Влияния Финансовой Архитектуры На Эффективность Компаний Европейского Ритейла // The Impact Of Financial Architecture On The European Retail Company Performance," Финансы: теория и практика/Finance: Theory and Practice // Finance: Theory and Practice, ФГОБУВО Финансовый университет при Правительстве Российской Федерации // Financial University under The Government of Russian Federation, vol. 21(4), pages 100-115.
    6. Kopyrina, Olga & Stepanova, Anastasia, 2023. "The influence of ownership structure and board independence on the cost of debt in BRIC countries," Economic Systems, Elsevier, vol. 47(2).
    7. Kokoreva, Maria S. (Кокорева, Мария) & Stepanova, Anastasia N. (Степанова, Анастасия) & Karnoukhova, Elena V. (Карноухова, Елена), 2016. "What We Do not Know about the Ownership Structure of the Largest U.S. Companies? [Чего Мы Не Знаем О Структуре Собственности Крупнейших Компаний Сша?]," Ekonomicheskaya Politika / Economic Policy, Russian Presidential Academy of National Economy and Public Administration, vol. 6, pages 36-59, December.
    8. repec:rze:efinan:v:9:y:2012:i:2:p:24-33 is not listed on IDEAS

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