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Integrating uncertainty and governance into a capital structure puzzle: can risk-taking and rule-taking explain zero-leverage firms?

Integrating uncertainty and governance into a capital structure puzzle: can risk-taking and rule-taking explain zero-leverage firms? Abstract: This study uses a multidisciplinary lens to investigate new determinants of the puzzling phenomenon of zero leverage, where firms contain only equity in their capital structure.

Competition and ESG practices in emerging markets - Evidence from a difference-in-differences model

Competition and ESG practices in emerging markets: Evidence from a difference-in-differences model Abstract: This paper investigates how competition affects firms' environmental, social, and governance (ESG) practices in 22 emerging markets, using a sample of 6,906 firm-year observations from 2011 to 2019.

Tutorial-Articles - The Importance of Data and Code Sharing

Tutorial-Articles: The Importance of Data and Code Sharing Abstract: Context: this document is designed to be along with those that are in the first edition of the new section of the Journal of Contemporary Administration (RAC): the tutorial-articles section.

Does control concentration affect board busyness? International evidence

Does control concentration affect board busyness? International evidence Abstract: Previous literature suggests that shareholders can concentrate control without cash flow rights, creating incentives to expropriate firm resources. However, previous research does not help identify the board structure of firms whose controlling shareholder has an inflated control concentration.

Do shareholder protection and creditor rights have distinct effects on the association between debt maturity and ownership structure?

Do shareholder protection and creditor rights have distinct effects on the association between debt maturity and ownership structure? Abstract: This study examines the effects of the firm’s ownership concentration and its institutional environment on corporate debt maturity choices.

The Brazilian bankruptcy law reform, corporate ownership concentration, and risk-taking

The Brazilian bankruptcy law reform, corporate ownership concentration, and risk-taking Abstract: We investigate whether a bankruptcy reform, which increased creditors' protection, affected the risk taking of Brazilian firms. Collecting data from Brazilian (treatment group) and Argentinian, Chilean, Colombian, Mexican, and Peruvian firms (control group) and using a difference-in-difference technique, we show that Brazilian firms with concentrated ownership structure decreased risk taking after the reform.

Investor protection, managerial entrenchment, and cash holdings - Cross-country evidence

Investor protection, managerial entrenchment, and cash holdings: Cross-country evidence Abstract: We investigate whether investor protection (i.e. shareholder protection and creditor rights) is associated with how entrenched managers set corporate cash holdings.

Country-level governance quality, ownership concentration, and debt maturity - A comparative study of Brazil and Chile

Country-level governance quality, ownership concentration, and debt maturity: A comparative study of Brazil and Chile Research Question/Issue: This study investigates the interplay between country-level governance quality and the capital structure choice at the firm level in Brazil and Chile.

Cross-National Governance Research - A Systematic Review and Assessment

Cross-National Governance Research: A Systematic Review and Assessment Research Question/Issue: Using a systematic literature review approach, we survey 192 cross-national comparative studies published in 23 scholarly journals in the fields of accounting, economics, finance, and management for the period 2003 to 2014.