On January 12 2010, Haiti was hit by an earthquake of 7.2 on the Richter scale. Close to 220,000 persons died, more than 300,000 were wounded and almost two other million were displaced. The earthquake¿s epicenter was actually several kilometers away the c ...
We investigate whether corporations and their executives react to an exogenous change in passive institutional ownership and alter their corporate governance structure. We find that exogenous increases in passive ownership lead to increases in CEO power an ...
Corporate disclosure is the most important source of information about the firm for the outside investors. While some disclosure of public firms is mandated by regulation, firm managers can provide extra information at their discretion by making voluntary ...
We model the financing, cash holdings, and hedging policies of a firm facing financing frictions and subject to permanent and transitory cash flow shocks. The permanent and transitory shocks generate distinct, sometimes opposite, effects on corporate polic ...
Addressing a global key sector area - the high technology manufacturing sector - we examine if there is truly a benefit of corporate social disclosure to the bottom line of organizations within this sector and if stakeholders should devote more attention t ...
This dissertation consists of three chapters. The first chapter examines whether the availability of credit default swaps (CDS) has consequences for creditor governance. CDSs offer creditors the opportunity to hedge credit risk and may impact their willing ...