By Mark Hirschey, A. K. Makhija, K. John

This quantity includes fourteen learn papers with theoretical and empirical remedy of vital monetary elements of company governance. The papers conceal significant company governance concerns equivalent to the position of the board of administrators, possession constitution, possession focus, and the effect of outdoor blockholders. one other salient function of this assortment is that it bargains enormous overseas facts, together with that from the U.S. of the US, Australia, Germany, Saudi Arabia, China, India, and Malaysia.

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Additional info for Corporate Governance, Volume 9 (Advances in Financial Economics)

Example text

Yermack (1996), in his study of the relationship between board size and firm value, controls for firm size and industry. Before applying the market capitalization criterion we first segment sample firms into three industry categories, financials (SIC codes 6000–6499 and 6700–6799), 38 JOHN S. HOWE AND HONGBOK LEE utilities (SIC codes between 4900–4999), and industrials (all others), following Houston and Houston (1990). 10 From the universe of firms that have not shown preferred stock (COMPUSTAT annual data item 130) in their capital structure for five fiscal years prior to the issue date of preferred issuers, the firm with the market capitalization that is closest to that of the issuing firm is selected as a matching firm.

Dubois reaches certain performance milestones or if Ms. Dubois is terminated without cause following a change of control of the Company. 3. The primary related party is an executive [10] Dubois whose title [19] indicates an executive but not a director. There is no secondary related party since the Related Party Transactions and Corporate Governance 25 transaction is directly between the company and the primary related party. The transaction type [427] indicates that the loan is for purchase of a residence and that it is below market (since it is intended to be forgiven).

Journal of Financial Economics, 20, 431–460. APPENDIX Examples of Related Party Transaction Disclosures EXAMPLE I OF DISCLOSURE AND DATA CODING The sections below are from the Proxy, form 14A, of Looksmart Ltd. gov). All items, other than the numbered and italicized remarks, have been cut and pasted from the SEC website and so are direct quotes. The numbered, italicized remarks are comments added to indicate how the relevant related party transaction information was coded for this study. There are three related party transactions in this example.

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Corporate Governance, Volume 9 (Advances in Financial by Mark Hirschey, A. K. Makhija, K. John
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