Advances in Financial Economics

by Stephen P. Ferris, Kose John, Anil K. Makhija

Overview

This volume contains eight empirical papers that examine corporate governance from a number of different perspectives. Howe et al investigate how governance can influence short- and long-term performance in the case of Special Purpose Acquisition Companies; Javakhadze et al analyze limits to convergence in international corporate governance practices; Barak and Lauterbach focus on the private benefits of control; and Dong examines the relation between the discipline of options and corporate debt and the design of executive compensation. Jiang et al measure the effect of R&D expenditures on bondholders; Gondhalekar et al examine the capital market response to financial restatements; Al-Khouri reports robust evidence that privately owned banks are more risky than government-owned banks; and Luo and Jackson conclude that the positive relationship between tunneling and executive compensation implies personal benefits for controlling shareholders at the expense of minority shareholders.

Product Details

ISBN-13:	9781780527888
Publisher:	Emerald Group Publishing Limited
Publication date:	11/12/2012
Series:	Advances in Financial Economics , #15
Pages:	250
Product dimensions:	6.14(w) x 9.21(h) x 0.98(d)

Table of Contents

List of Contributors vii

Spac Performance, Ownership and Corporate Governance John S. Howe Scott W. O'Brien 1

Limits on Convergence in International Corporate Governance Practices David Javakhadze Stephen P. Ferris Gregory Noronha 15

Firm-Specific Factors Affecting the Private Benefits of Control in Concentrated Ownership Economies Ronen Barak Beni Lauterbach 59

The Joint Discipline of Option and Debt: Theory and Evidence from Ceo's Equity Holding, Capital Structure, and Executive Compensation Gang "Nathan" Dong 79

The Effects of R&D Expenditures on Bondholders Zhan Jiang Kenneth A. Kim Carl Hsin-Han Shen 127

Short- And Long-Term Share Price Reaction to Announcements of Financial Restatements Vijay Gondhalekar Mahendra Joshi Marie McKendall 149

Government Ownership, Competition, and the Risk-Taking Attitude of the GCC Banking System Ritab Al-Khouri 173

CEO Compensation, Expropriation, and the Balance of Power Among Large Shareholders Yongli Luo Dave O. Jackson 195