By Alireza Tourani-Rad
The ebook highlights rising subject matters in key components of company governance with specific emphasis on regularly unexplored matters. It additionally goals to stimulate considering and debate on important elements of perform and ways to company governance. the subjects lined during this e-book care for well timed matters, written via eminent lecturers and well known execs with extraordinary services of their respective fields, who convey to fore the most recent theories and supply an updated assessment of the extant literature on each one subject. extra importantly, they draw readers consciousness to implications for destiny learn and advancements. The publication not just contributes to the educational literature but additionally improves the choice making of regulators and traders
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This authoritative e-book permits readers to judge a number of the functionality and threat attributes of mutual cash, whereas additionally serving as a accomplished source for college kids, teachers, and normal traders alike. keeping off the fewer valuable descriptive method of fund choice, this booklet employs a balanced procedure together with either method and alertness.
Research for monetary administration, 9/e is a paperback textual content and has been written to give ordinary thoughts and smooth advancements in a realistic and intuitive demeanour. it really is meant for non-financial managers and company scholars attracted to the perform of monetary administration. Emphasis is at the managerial functions of monetary research.
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Focusing on the municipal bond market, Pirinsky and Wang (2009) find a strong segmentationdriven valuation effect in the municipal bond market — municipal bond yields are highly correlated with local demand and supply. The geographic segmentation of capital markets could also affect the systematic risks of stocks. Pirinsky and Wang (2006) document strong co-movement in the stock returns of firms headquartered in the same geographic area. The local co-movement of stock returns is not explained by economic fundamentals and is stronger for smaller firms with more individual investors and in regions with less financially sophisticated residents.
For example, regions with a greater proportion of young residents could have smaller aggregate savings than regions with a predominantly older population. This could have an impact on the regional supply of credit and, as a result, on the cost of debt capital. Next, consider a company that is headquartered in an area with a large number of institutional investors. Such a company would naturally have a lower cost of equity capital. Institutional investors, however, are different from individual investors and even institutional investors could differ among themselves.
2008). The review of the literature shows that insiders in both emerging and developed markets use similar transactions to engage in tunneling, but the magnitude of wealth expropriation may vary widely across markets. Several robust conclusions and policy implications arise from the review of the literature. First, tunneling has a large negative impact on firm value and capital market development. Limiting tunneling with regulations or other institutional mechanisms is a necessary condition for an emerging market to materialize.
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