fork in the road clauses and waiver clauses in investment treaties are supposed to minimize the number of parallel proceedings in foreign investment disputes. while, fork in the road clauses preclude investors from further litigation or arbitration once the first dispute settlement mechanism is triggered, in waiver clauses, domestic litigation can be followed by treaty arbitration regarding the...

This journal investigates the effect of foreign institutional investor ownership on share price volatility with a sample 207 companies between 2008 and 2021 that are included in Kompas100 Index. The empirical results this study indicate reduces Indonesia control variables: market capitalization, turnover, leverage, to book. In addition, we also document research greater capitalization company, ...

This paper highlights the difference between secure investor property rights and loosely defined individual property rights. Globalization and fiscal decentralization have intensified this difference. On the one hand, in the presence of mobile foreign direct investments and under the arrangement of fiscal decentralization, local governments compete vigorously to offer various protections on the...

Previous U.S. M&A studies have shown that the acquisitions of under-performing firms by well-performing firms generate greater synergies; however this is inconsistent with the well-documented “Cherry Picking” behavior of foreign investors in emerging markets. This paper develops a theory within the “law and finance” framework to explain this puzzle. First, highly profitable firms will self sele...

Using a large panel of firms across the world from 1991-2006, we show that the median foreign firm has lower idiosyncratic risk than a comparable U.S. firm. Country characteristics help explain variation in idiosyncratic risk across countries in both level and change regressions, but less so than firm characteristics. There exists a strong negative relation between idiosyncratic risk and an ind...

Board Independence and Corporate Governance: Evidence from Director Resignations. (May 2005) Manu Gupta, B.E., South Gujarat University; M.I.B., Indian Institute of Foreign Trade Chair of Advisory Committee: Dr. L. Paige Fields As evident from recent changes in NYSE and Nasdaq listing requirements, board independence is considered an important constituent of firms’ corporate governance structur...

in state-investor dispute, investor tends that umbrella clause transfers all contractual claims to treaty claims. by contracts, state follows narrow interpretation of this clause. up to ilc articles, establishing of responsibility of state for breach of contract requires tow preconditions. first state is merely responsible when state condoct has been of governmental nature and second is that br...