英语论文网

留学生硕士论文 英国论文 日语论文 澳洲论文 Turnitin剽窃检测 英语论文发表 留学中国 欧美文学特区 论文寄售中心 论文翻译中心

Bussiness ManagementMBAstrategyHuman ResourceMarketingHospitalityE-commerceInternational Tradingproject managementmedia managementLogisticsFinanceAccountingadvertisingLawBusiness LawEducationEconomicsBusiness Reportbusiness planresearch proposal

英语论文题目英语教学英语论文商务英语英语论文格式商务英语翻译广告英语商务英语商务英语教学英语翻译论文英美文学英语语言学文化交流中西方文化差异英语论文范文英语论文开题报告初中英语教学英语论文文献综述英语论文参考文献

ResumeRecommendation LetterMotivation LetterPSapplication letterMBA essayBusiness Letteradmission letter Offer letter

澳大利亚论文英国论文加拿大论文芬兰论文瑞典论文澳洲论文新西兰论文法国论文香港论文挪威论文美国论文泰国论文马来西亚论文台湾论文新加坡论文荷兰论文南非论文西班牙论文爱尔兰论文

小学英语教学初中英语教学英语语法高中英语教学大学英语教学听力口语英语阅读英语词汇学英语素质教育英语教育毕业英语教学法

英语论文开题报告英语毕业论文写作指导英语论文写作笔记handbook英语论文提纲英语论文参考文献英语论文文献综述Research Proposal代写留学论文代写留学作业代写Essay论文英语摘要英语论文任务书英语论文格式专业名词turnitin抄袭检查

temcet听力雅思考试托福考试GMATGRE职称英语理工卫生职称英语综合职称英语职称英语

经贸英语论文题目旅游英语论文题目大学英语论文题目中学英语论文题目小学英语论文题目英语文学论文题目英语教学论文题目英语语言学论文题目委婉语论文题目商务英语论文题目最新英语论文题目英语翻译论文题目英语跨文化论文题目

日本文学日本语言学商务日语日本历史日本经济怎样写日语论文日语论文写作格式日语教学日本社会文化日语开题报告日语论文选题

职称英语理工完形填空历年试题模拟试题补全短文概括大意词汇指导阅读理解例题习题卫生职称英语词汇指导完形填空概括大意历年试题阅读理解补全短文模拟试题例题习题综合职称英语完形填空历年试题模拟试题例题习题词汇指导阅读理解补全短文概括大意

商务英语翻译论文广告英语商务英语商务英语教学

无忧论文网

联系方式

留学生论文网:The Corporate Governance Role of the Media:Evidence from Russia

论文作者:留学生论文论文属性:案例分析 Case Study登出时间:2011-01-19编辑:anterran点击率:16758

论文字数:14251论文编号:org201101190931442112语种:英语论文 English地区:英国价格:免费论文

附件:20110119093419029.pdf

关键词:Corporate Governance RoleMediaEvidence from Russia

The Corporate Governance Role of the Media:Evidence from Russia

ABSTRACT
We study the effect of media coverage on corporate governance by 代写留学生论文focusing on Russiain the period 1999 to 2002. We find that an investment fund’s lobbying increases coverageof corporate governance violations in the Anglo-American press. We alsofindthat coverage in the Anglo-American press increases the probability that a corporategovernance violation is reversed. This effect is present even when we instrumentcoverage with an exogenous determinant, the fund’s portfolio composition at the beginning
of the period. The fund’s strategy seems to work in part by impacting Russiancompanies’ reputation abroad and in part by forcing regulators into action.
IN RECENT YEARS HEDGE FUNDS

 have emerged as among some of the most powerful
players in corporate governance worldwide. From the dismissal of Deutsche
Boerse’s CEO Seifert to McDonalds’ spin-off of major assets in an IPO, hedge
funds have played a crucial role. TheWall Street Journal labeled them the “new
leader” on the “list of bogeymen haunting the corporate boardroom.”1 Among
the many tactics hedge fund managers use, the most prominent is the tactic
of focusing public attention on an underperforming company and shaming the
CEO to either resign or change policy (Kahan and Rock (2006)).
It is hard to tell, however, whether such a public relations campaign is just asmokescreen for more important maneuvers that take place behind the scenesor is a crucial ingredient of their battle. Can hedge funds (or shareholdersin general) increase the level of coverage received by certain news/companies?And if so, does this coverage have any effect on corporate governance outcomes?These questions are hard to address using U.S. data. Because most hedge fundstrade in and out of companies very quickly, it is hard to disentangle whetherthey are simply good at recognizing that the situation is ripe for change or∗Alexander Dyck is from the University of Toronto. He thanks the Gamma Foundation, the Divisionof Research, Harvard Business School, and the Rotman School of Management for financialsupport. Natalya Volchkova is from the New Economic School and works with CEFIR. Luigi Zingalesis from the University of Chicago and works with NBER and CEPR. He thanks the Gamma
Foundation, the CRSP center, and the George Stigler Center at the University of Chicago for financial
support. We thank Beatriz Armendariz, Stefano della Vigna, Andrei Shleifer, Andrei Simonov,
Ekaterina Zhuravskaya, and seminar participants at Dartmouth, Harvard, Stockholm School of
Economics and the NBER for very useful comments.We thank Mehmet Beceren and Victor Xin for
their research assistance.
1 AlanMurray “Hedge Funds Are New Sheriffs of Boardroom,”Wall Street Journal, 14 December
2005, pg. A2.
1093
1094 The Journal of Finance
whether they are indeed an agent of change. Further, because hedge funds in
the United States (and in most of Europe) also have access to an array of options
to address bad corporate governance (from shareholder’s suits to calling an
extraordinary general meeting), it is hard to tell whether they succeed because
of public relations campaigns or because of the power of their legal rights.
In addition, the impact of media campaigns can be reduced by countervailingpublic relations efforts exerted by firms.
To overcome these problems we study论文英语论文网提供整理,提供论文代写英语论文代写代写论文代写英语论文代写留学生论文代写英文论文留学生论文代写相关核心关键词搜索。

共 1/36 页首页上一页1234567下一页尾页

英国英国 澳大利亚澳大利亚 美国美国 加拿大加拿大 新西兰新西兰 新加坡新加坡 香港香港 日本日本 韩国韩国 法国法国 德国德国 爱尔兰爱尔兰 瑞士瑞士 荷兰荷兰 俄罗斯俄罗斯 西班牙西班牙 马来西亚马来西亚 南非南非

   Europe (24-hours)
   EN:13917206902
   china (24-hours)
   CN:13917206902
在线客服团队
    全天候24小时在线客服
      QQ:949925041 
  

微信公众订阅号