Minority investors' reliance on market discipline can vary with different country-level investor protection and firm-level corporate governance environments, which affect both discipline and rent extraction incentives of foreign institutional investors (FIIs). Using data from 47 economies between 2009 and 2017, we find that firm value increases with FIIs aggressive trading but decreases with FIIs discreet trading. The positive and negative impacts of FIIs trading are strengthened when investor protection is stronger, but weakened when corporate governance is stronger. Our analysis enhances understanding of trade-offs of FIIs trading between discipline and rent extraction in different corporate governance and investor protection environments
We study the asset pricing implications arising from imperfect investor protection using a new gover...
We study the asset pricing implications arising from imperfect investor protection using a new gover...
We examine the role of country-level legal investor protection (i.e., shareholder and creditor prote...
Session - Governance and the Stock MarketWorking Paper SeriesThis paper empirically identifies an im...
This thesis examines foreign institutional (portfolio) investors' (FIIs or FIIs) influence on govern...
Data on corporate governance and disclosure practices reveal wide within-country variation that decr...
Data on corporate governance and disclosure practices reveal wide within-country variation that decr...
We study how corporate hedging affects the demand of foreign institutional investors. We collect mea...
Session: GovernanceThis paper empirically identifies an important external corporate governance mech...
Data on corporate governance and disclosure practices reveal wide within-country variation that decr...
While excessive regulation is an obstacle to the development of financial markets, we argue that lac...
Research Question/Issue: This paper investigates how the trading activities of foreign institutional...
This study examines whether a stronger corporate governance enforcement regime influences the invest...
This study aims to examine the effects of investor protection (PROT), internal and external corporat...
Abstract – This study examines whether exogenous regulatory shocks induced by Regulation Fair Disclo...
We study the asset pricing implications arising from imperfect investor protection using a new gover...
We study the asset pricing implications arising from imperfect investor protection using a new gover...
We examine the role of country-level legal investor protection (i.e., shareholder and creditor prote...
Session - Governance and the Stock MarketWorking Paper SeriesThis paper empirically identifies an im...
This thesis examines foreign institutional (portfolio) investors' (FIIs or FIIs) influence on govern...
Data on corporate governance and disclosure practices reveal wide within-country variation that decr...
Data on corporate governance and disclosure practices reveal wide within-country variation that decr...
We study how corporate hedging affects the demand of foreign institutional investors. We collect mea...
Session: GovernanceThis paper empirically identifies an important external corporate governance mech...
Data on corporate governance and disclosure practices reveal wide within-country variation that decr...
While excessive regulation is an obstacle to the development of financial markets, we argue that lac...
Research Question/Issue: This paper investigates how the trading activities of foreign institutional...
This study examines whether a stronger corporate governance enforcement regime influences the invest...
This study aims to examine the effects of investor protection (PROT), internal and external corporat...
Abstract – This study examines whether exogenous regulatory shocks induced by Regulation Fair Disclo...
We study the asset pricing implications arising from imperfect investor protection using a new gover...
We study the asset pricing implications arising from imperfect investor protection using a new gover...
We examine the role of country-level legal investor protection (i.e., shareholder and creditor prote...