Series Title: Abstract: Addresses a range of phenomena related to the general question of when people behave in an altruistic fashion. More recently, researchers have come to understand that the efficiency of firms depends upon the ability of participants to find effective means to minimize the transaction costs of coordinating productive activity. It seems that most of the increase in firm value and the performance improvement are due to rising levels of equity ownership in non-keiretsu independent firms by foreign investors. Oh , 2014, Emerging Markets Finance and Trade 50 2 , 34-72. Implications of cash hoarding for shareholders. As a result, the design and control of effective organizations have become an integral part of financial economics.
On the role of institutional investors in corporate governance: Evidence from voting of mutual funds in Israel; Chapter 9. Mullineaux , 2010, Finance Research Letters, 7, 119-126. Jambal , 2015, Asia-Pacific Journal of Financial Studies 44 6 , 811-848. Kim , 2016, Journal of Business Ethics forthcoming. . Legal issues of enforcement for corporate governance in Vietnam: Constraints and recommendations B. Author: Mark Hirschey; Kose John; Professor Anil Makhija Publisher: Bradford : Emerald Group Pub.
Papers in this volume show how corporate control mechanisms inside and outside the firm have evolved around the world to allocate decision authority to that person or organization best able to perform a given task. Management views on corporate governance and firm performance; Chapter 5. The E-mail message field is required. Sung , 2012, Asia-Pacific Journal of Financial Studies 41 6 , 686-703. Corporate governance mechanisms in action: The case of Air Canada S.
His work appears in such top professional journals as the Journal of Finance and the Journal of Financial Economics. Focuses on corporate governance, broadly defined as the system of controls that helps corporations and other organizations effectively manage, administer, and direct economic resources. Managerial stability and payout policy: Does state regulation matte. Firm value rises until foreign ownership reaches approximately 40%, and then it begins to decline. Institutional investors and director remuneration: do political connections matter?.
On the role of institutional investors in corporate governance: Evidence from voting of mutual funds in Israel. Professor Makhija is chair of Fisher Colleges department of finance, and holds the Rismiller Endowed Professorship in Finance. Further evidence on institutional ownership and corporate value W. Jang , 2013, International Finance Review 14, 449-475. Traditionally, organization structure has been described by the vertical and horizontal relationships among the firm, its customers and suppliers. It appears that large foreign institutional investors invest in well-performing firms and serve as effective monitors. China's institutional environment and corporate governance J.
Makhija received a PhD in Finance from the University of Wisconsin-Madison. This book contains topics that include how empathy induced altruism can actually be a threat to the some larger collective good, and the role of egoism in the production and maintenance of social order. Corporate governance and firm's value in emerging markets: The case of Jordan R. Song , 2016, Emerging Markets Finance and Trade 52 4 , 975-990. His research and teaching interests are in the field of corporate finance, and focus on issues relating to capital structure, corporate governance, and investment policy. Responsibility: Mark Hirschey, Kose John, Anil K. The two dimensions of corporate governance independence K.
Questions of what and how to produce become equally important as organizations strive to better serve demanding customers. As financial economists have learned, resource allocation will be efficient so long as transaction costs remain low and property rights can be freely assigned and exchanged. Contents: Corporate Governance and Firm Performance; Copyright page; Contents; List of contributors; Chapter 1. Pennacchi , 2015, Journal of Finance 70 3 , 1287-1322. Board monitoring and access to debt financing. Management views on corporate governance and firm performance. Mark Hirschey is the Anderson Chandler Professors of Business at the University of Kansas.
Professor Kwangwoo Park Professor of Finance Ph. Kim , 2016, Energy Economics 59, 238-250. Agency costs are the explicit and implicit transaction costs necessary to overcome the natural divergence of interest between agent managers and principal stockholders. Foreign ownership and firm value: Evidence from Japan K. Legal institutions, democracy and financial sector development. Our results remain robust even after controlling for other corporate governance variables, such as equity ownership by main banks and board membership by foreign investors.