This study explores corporate governance practices within the context of the Nigerian banking industry using instances of corporate governance lapses that resulted in part to the Nigerian banking crises. We present multiple case analysis of publicly available documents and court papers (in the United Kingdom and Nigeria) to document instances of breach and areas of weakness in the existing Nige...

this study explores corporate governance practices within the context of the nigerian banking industry using instances of corporate governance lapses that resulted in part to the nigerian banking crises. we present multiple case analysis of publicly available documents and court papers (in the united kingdom and nigeria) to document instances of breach and areas of weakness in the existing nige...

This study examines the association between the cost of debt capital and corporate governance practices. Utilizing a unique data set of firm-level corporate governance practices that is provided by the Korea Corporate Governance Service (KCGS), this study examines whether sound corporate governance practices reduce agency costs and thus the default risk and cost of debt capital of a firm. The f...

This paper develops an organizational approach to corporate governance and assesses the effectiveness of corporate governance and implications for policy. Most corporate governance research focuses on a universal link between corporate governance practices (e.g., board structure, shareholder activism) and performance outcomes, but neglects how interdependencies between the organization and dive...

We examine why corporate governance varies widely across countries and across firms, and why such variation matters. Using a new database from Governance Metrics International on corporate governance practices across a large number of countries and firms for 2006-2011 and employing a hierarchical linear model specification, we find that the national cultural dimension of individualism is positi...

In this paper, we examine the universality of “good” corporate governance practices as exemplified by the Anglo-American governance paradigm. Using a new database from Governance Metrics International featuring highly granular measures of corporate governance practices across a large number of countries for the period 2006-2011, we first find that the national cultural dimension of individualis...

As the REIT regime has been expanding globally, corporate governance practices in emerging REIT markets have become a major concern for domestic and international investors alike. Idiosyncrasies stemming from the ownership models applied in Asian economies and the fact Asian REITs are often externally managed “captive entities” make issues pertaining to corporate governance of the listed real e...

For a large number of companies from a cross-section of countries, we analyze how company corporate governance practices, country regulatory regimes and their interaction affect companies’ valuation. We confirm that practices are crucial for efficient company functioning and shareholder protection, and consequently positively impact valuation. We find little positive valuation impact from count...

In this paper, we provide a preliminary survey of the burgeoning literature on corporate governance in China. We structure the existing research around three themes: (1) What are the current corporate governance practices in China? (2) How do these corporate governance practices affect Chinese firms’ valuation and various corporate policies? (3) How does China’s unique institutional setting pre...

This study examines whether the corporate governance rankings published by The Globe and Mail, a reputed national Canadian newspaper, are reflected in the values that investors accord to firms. A sample of 796 observations on 289 Canadian companies from 2002-2005 inclusively was analyzed using a price model (CazavanJeny and JeanJean, 2006). Results suggest that the corporate governance rankings...