We investigate the degree to which corporate governance and ownership affects the innovation performance of firms in China. We hypothesize that (1) board-related governance measures will enhance innovation because they improve monitoring and provide access to necessary resources; (2) ownership concentration initially facilitates innovation because large shareholders are more likely to commit to...

This paper examines the effect of governance and managerial alignment on dynamic dividend behavior of managers. I use a novel empirical approach to provide evidence on the role of governance and managerial alignment in explaining variation in dividend smoothing, incremental dividend decisions, and dynamic dividend behavior. Managers subject to weak monitoring and misaligned incentives are under...

Sudden stops, or large reversals in capital inflows, have been linked to a number of financial crises in emerging market countries. Given their potentially devastating consequences, academics and policymakers have placed great emphasis on analyzing the causes of financial vulnerability. This task has become even more important with increasing financial globalization. A large literature has deve...

We investigate the degree to which corporate governance and ownership affects the innovation performance of firms in China with a particular focus on privately owned small and medium enterprises (SMEs). We hypothesize that (1) board-related governance measures will enhance innovation because they improve monitoring and provide access to necessary resources; (2) ownership concentration initially...

This paper examines the relation between cash-flow availability and investment spending in the Netherlands. In particular, we are interested whether managerial discretion and/or asymmetric information drive the positive relation between cash-flow and investment spending. This relation is positive for both firms with low and high investment opportunities. It is however significantly larger for f...

today, the focus of coherent regional and transregional markets is an increasing tendency for the exchange of goods and services that are based on modern scientific technology. thus, the use and application of knowledge and standards harmonization of domestic products with favorable global production should be considered as a priority and requirements among the economic policies of export devel...

a r t i c l e i n f o Article history: Received 27 December 2017 Received in revised form 2 February 2018 Accepted 2 February 2018 Available online 17 February 2018 JEL classification: C91 D91 J22 J33 L2 M5