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Three Essays On International Transmission Mechanism, Volatility And Spillovers On American Depositary Receipt Returns, Priti Verma
Theses and Dissertations - UTB/UTPA
This dissertation is a collection of three inter-related essays that examine spillovers from interest rates, exchange rates, regional markets, and the U.S. market to the American Depositary Receipt (ADR) returns. The ADRs investigated in this study are from Brazil, Chile, Mexico (Latin America), U.K., Germany, France, Italy (Europe), and Japan, Hong Kong, and Taiwan (Asia).
Essay 1 investigates the price and volatility spillovers as well as the asymmetric impact of positive and negative innovations from interest and exchange rates to ADR returns. Unlike previous studies which use bivariate statistics, the multivariate extension of Nelson's (1991) Exponential Generalized Autoregressive Conditional Heteroscedasticity …
Corporate Governance And Expropriation Of Minority Shareholders' Rights: Evidence From Latin America, Marisela Santiago-Castro
Corporate Governance And Expropriation Of Minority Shareholders' Rights: Evidence From Latin America, Marisela Santiago-Castro
Theses and Dissertations - UTB/UTPA
The dissertation empirically examines whether the internal corporate governance mechanisms of the firms represented in Latin American equity markets lead to the expropriation of minority shareholders' rights; and whether such expropriation leads to economic underperformance. Specifically, the dissertation answers the following: Is there a relationship between the board of director's characteristics and the expropriation of minority shareholders rights in Latin American firms? Is there a relationship between the ownership structure of Latin American firms and the expropriation of minority shareholders rights? Moreover, does the expropriation of minority shareholders rights lead to economic underperformance among Latin American firms?
Several hypotheses were …