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For a sample of 42 countries, I examine firms whose controlling shareholders and top managers are members of national parliaments or governments. I find that this overlap is quite widespread, especially in highly corrupted countries. Connected companies enjoy easier access to debt financing, lower taxation, and stronger market power. These benefits increase(More)
In a sample of 398 firms from Indonesia, Korea, Malaysia, the Philippines, and Thailand, firm-level differences in variables related to corporate governance had a strong impact on firm performance during the East Asian financial crisis of 1997 to 1998. Significantly better stock price performance is associated with firms that had indicators of higher(More)
Newly released data on corporate governance and disclosure practices reveal wide within-country variation, with the variation increasing as legal environment gets less investor friendly. This paper examines why firms practice high-quality governance when law does not require it; firm attributes related to the quality of governance; how the attributes(More)
As software for distributed systems becomes more complex, ensuring that a system meets its prescribed specification is a growing challenge that confronts software developers. This is particularly important for distributed applications with strict dependability and timeliness constraints. This paper reports on ORCHESTRA, a portable fault injection(More)
Ensuring that a distributed system meets its prescribed specification is a growing challenge that confronts software developers and system engineers. Meeting this challenge is particularly important for applications with strict dependability and/or timeliness constraints. We have developed a software fault injection tool, called ORCHESTRA, for testing(More)
Real-time embedded systems have evolved during the past several decades from small custom-designed digital hardware to large distributed processing systems. As these systems become more complex, their interoperability, evolvability and cost-effectiveness requirements motivate the use of commercial-off-the-shelf components. This raises the challenge of(More)
TCP, the de facto standard transport protocol in today’s operating systems, is a very robust protocol that adapts to various network characteristics, packet loss, link congestion, and even significant differences in vendor implementations. This paper describes a set of experiments performed on six different vendor TCP implementations using ORCHESTRA,a tool(More)