• Publications
  • Influence
Do Boards Pay Attention When Institutional Investor Activists 'Just Vote No'?
We examine "just vote no" campaigns, a recent innovation in low-cost shareholder activist tools whereby activists encourage their fellow shareholders to withhold votes toward a director's election toExpand
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Commitment or Entrenchment?: Controlling Shareholders and Board Composition
This paper examines the determinants of board composition and firm valuation as a function of board composition in Taiwan - a country that features relatively weak protection for investors, firmsExpand
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Agents watching agents?: evidence from pension fund ownership and firm value
Abstract This paper examines the valuation effects associated with the incentive structures of different types of institutional investors using the ownership levels of public and private pensionExpand
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Family Control and Corporate Governance: Evidence from Taiwan
A recent stream of literature shows that family control is central in most countries of the world, but little research exists regarding family control and corporate governance. This paper analysesExpand
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Does Investor Identity Matter in Equity Issues? Evidence from Private Placements
We examine the relation between stock price performance and the identity of the investors buying the shares in private placements of equity. We find that although the shareholders not participatingExpand
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The Role of Negotiations in Corporate Governance: Evidence From Withdrawn Shareholder-Initiated Proposals
We examine shareholder proposals that are withdrawn by the sponsor during the period 1989 to 1995 to identify factors that affect the relative ability of shareholders and managers to negotiate. WeExpand
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The role of the audit committee and the informativeness of accounting earnings in East Asia
Policy makers around the world have focused on corporate governance reform since the Asian financial crisis and scandals in the United States such as the Enron debacle. In particular, policy makersExpand
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Differences in the Information Environment Prior to Seasoned Equity Offerings under Relaxed Disclosure Regulation
The SEC promulgated the Securities Offering Reform (SOR) in 2005 to ease disclosure restrictions prior to seasoned equity offerings (SEOs). The SEC argued that SOR would improve the informationExpand
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Appointments of Academic Directors
We examine the outside director selection process using unique data on appointments of academic directors. Overall, we find that academic directors tend to be appointed by small- and mid-cap firmsExpand
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Investor Protection and Real Investment by U.S. Multinationals
In spite of the growing research concerning investor protection, the relation between investor protection and real investment by foreign multinationals is largely unexplored. Recognizing thisExpand
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