Do Foreigners Invest Less in Poorly Governed Firms?

Christian Leuz, Karl V. Lins, Francis E. Warnock

2006-05-01reportNational Bureau of Economic Research64 citationsgreen

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Corporate Finance and Governance Financial Markets and Investment Strategies International Business and FDI

Abstract

University of North Carolina at Chapel Hill, and the University of Oklahoma.The statistical analysis of security-level data on U.S. investors' holdings reported in this study was conducted at the International Finance Division of the Board of Governors of the Federal Reserve System under arrangements that maintained legal confidentiality requirements.The views in this paper are solely the responsibility of the authors and should not be interpreted as reflecting the views of the Board of Governors of the Federal Reserve System or of any other person associated with the Federal Reserve System.The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.©2006 by Christian Leuz, Karl V. Lins and

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