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When The Going Gets Tough: Board Capital And Survival Of New Economy Ipo Firms, Nongnit Chancharat, Chandrasekhar Krishnamurti, Gary G. Tian
When The Going Gets Tough: Board Capital And Survival Of New Economy Ipo Firms, Nongnit Chancharat, Chandrasekhar Krishnamurti, Gary G. Tian
Gary Tian
The high profile corporate collapse of Enron and WorldCom has been attributed to corporate governance failures. This implicit linkage between governance failures and corporate failures raises the important question of whether good governance will mitigate the probability of failure of a firm faced with extreme financial duress. Additionally, recent studies question the assumption that a single board structure will be optimal for all firms. We empirically address this issue in the context of survival of new economy Australian IPOs. We characterize governance by board structure and leadership. Our results show that one of the key principles of the Cadbury Code …
Disproportional Ownership Structure And Pay-Performance Relationship: Evidence From China's Listed Firms, Jerry Cao, Xiaofei Pan, Gary G. Tian
Disproportional Ownership Structure And Pay-Performance Relationship: Evidence From China's Listed Firms, Jerry Cao, Xiaofei Pan, Gary G. Tian
Xiaofei Pan
This paper examines the impact of disproportional ownership structure on the pay-performance relationship in China’s listed firms. We find that the cash flow rights of the ultimate controlling shareholder have a positive effect on this relationship while a divergence between the control rights and cash flow rights has a significantly negative effect. By dividing our sample into state owned enterprises (SOE), state assets management bureaus (SAMB), and privately controlled firms, we find that cash flow rights in SOE controlled firms have a significant impact on accounting based pay performance and cash flow rights in privately controlled firms also affect the …
An Exploratory Study Of Internationalization Strategies Of Malaysian And Taiwanese Firms, Ah Ba Sim, J Rajendran Pandian
An Exploratory Study Of Internationalization Strategies Of Malaysian And Taiwanese Firms, Ah Ba Sim, J Rajendran Pandian
Ah Ba Sim
There is as yet limited empirical research on the internationalization processes, strategies and operations of Asian MNEs from countries at different levels of development. Drawing on primary data from matched case studies of emergin Taiwanese and Malaysian MNEs in the textiile and electronics industries, this paper examines and analyses their internationalization characteristics and strategies within the IDP perspective. The findings indicate that the emerging Taiwanese and Malaysian MNEs, while exhibiting characteristics such as that described in extant theories also suggest some differences. The empirical findings, limitations and areas fro further research are discussed.