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Capital Market Development, International Integration, Legal Systems, and the Value of Corporate Diversification: A Cross-Country Analysis
16 references·16 citing·26 second hopsampled
Capital Market Development, International Integration, Legal Systems, and the Value of Corporate Diversification: A Cross-Country Analysis (2003)Capital Market Development, International…Disentangling the Incentive and Entrenchment Effects of Large Shareholdings (2002)Disentangling the Incentive a…The separation of ownership and control in East Asian Corporations (2000)The separation of ownership a…Corporate Ownership Around the World (1999)Corporate Ownership Around th…Law and Finance (1998)Law and FinanceLegal Determinants of External Finance (1997)Legal Determinants of Externa…Financial Dependence and Growth (1996)Financial Dependence and Grow…Diversification's effect on firm value (1995)Diversification's effect on f…The Modern Industrial Revolution, Exit, and the Failure of Internal Control Systems (1993)The Modern Industrial Revolut…Finance, entrepreneurship and growth (1993)Finance, entrepreneurship and…Finance and Growth: Schumpeter Might Be Right (1993)Finance and Growth: Schumpete…Managerial discretion and optimal financing policies (1990)Managerial discretion and opt…Additional evidence on equity ownership and corporate value (1990)Additional evidence on equity…Management ownership and market valuation (1988)Management ownership and mark…Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers (1986)Agency Costs of Free Cash Flo…The Structure of Corporate Ownership: Causes and Consequences (1985)The Structure of Corporate Ow…Financial Development and Economic Growth: Views and AgendaFinancial Development and Eco…Corporate governance and institutions—A review and research agenda (2020)Corporate governance and inst…Retire in Peace: Officials’ Political Incentives and Corporate Diversification in China (2018)Retire in Peace: Officials’ P…Does the Diversification–Firm Performance Relationship Change Over Time? A Meta‐Analytical Review (2018)Does the Diversification–Firm…Coinsurance Within Business Groups: Evidence from Related Party Transactions in an Emerging Market (2013)Coinsurance Within Business G…Four decades of research on product diversification: a literature review (2012)Four decades of research on p…Corporate Diversification and Firm Value: A Survey of Recent Literature (2012)Corporate Diversification and…How relevant is corporate governance and corporate social responsibility in emerging markets? (2011)How relevant is corporate gov…Do foreign investors exhibit a corporate governance disadvantage? An information asymmetry perspective (2010)Do foreign investors exhibit …Valuation effects of global diversification (2009)Valuation effects of global d…Industrial diversification, partial privatization and firm valuation: Evidence from publicly listed firms in China (2008)Industrial diversification, p…From diversification premium to diversification discount during institutional transitions (2008)From diversification premium …Financial market integration and the value of global diversification: Evidence for US acquirers in cross-border mergers and acquisitions (2007)Financial market integration …The influence of financial and legal institutions on firm size (2006)The influence of financial an…Governance and Performance Implications of Diversification Strategies: Evidence from Large U.S. Firms (2004)Governance and Performance Im…Cross-country evidence on the value of corporate industrial and international diversification (2003)Cross-country evidence on the…Corporate Governance and Firm Value: Evidence from the Korean Financial Crisis (2003)Corporate Governance and Firm…Theory of the firm: Managerial behavior, agency costs and ownership structure (1976)Agency Problems and the Theory of the Firm (1980)Separation of Ownership and Control (1983)What Do We Know about Capital Structure? Some Evidence from International Data (1995)A Survey of Corporate Governance (1997)Investor protection and corporate governance (2000)The Modern Corporation and Private Property (1933)Agency Problems and Residual Claims (1983)Credit Rationing in Markets with Imperfect Information (1981)A Contribution to the Empirics of Economic Growth (1992)Financial intermediation and growth: Causality and causes (2000)Finance and Growth: Theory and Evidence (2004)Law, finance, and economic growth in China (2005)On the mechanics of economic development (1988)Africa's Growth Tragedy: Policies and Ethnic Divisions (1997)Does Social Capital Have an Economic Payoff? A Cross-Country Investigation (1997)The Theory of Economic Development (2003)Performance Pay and Top-Management Incentives (1990)Agency costs of free cash flow, corporate finance, and takeovers (1996)Higher market valuation of companies with a small board of directors (1996)Corporate governance, chief executive officer compensation, and firm performance (1999)The Cost of Capital, Corporation Finance and the Theory of Investment (1958)The Colonial Origins of Comparative Development: An Empirical Investigation (2001)Do Investment-Cash Flow Sensitivities Provide Useful Measures of Financing Constraints? (1997)How do family ownership, control and management affect firm value? (2005)Earnings management and investor protection: an international comparison (2003)
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References

  • 1998Law and Finance17,902 cited
  • 1986Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers17,216 cited
  • 1999Corporate Ownership Around the World10,565 cited
  • 1997Legal Determinants of External Finance9,776 cited
  • 1993Finance and Growth: Schumpeter Might Be Right8,651 cited
  • 1993The Modern Industrial Revolution, Exit, and the Failure of Internal Control Systems8,544 cited
  • 1996Financial Dependence and Growth8,055 cited
  • 1988Management ownership and market valuation6,910 cited
  • 1985The Structure of Corporate Ownership: Causes and Consequences6,243 cited
  • 2000The separation of ownership and control in East Asian Corporations5,753 cited
  • n.d.Financial Development and Economic Growth: Views and Agenda4,646 cited
  • 1990Additional evidence on equity ownership and corporate value4,311 cited
  • 2002Disentangling the Incentive and Entrenchment Effects of Large Shareholdings3,845 cited
  • 1990Managerial discretion and optimal financing policies3,679 cited
  • 1993Finance, entrepreneurship and growth3,546 cited
  • 1995Diversification's effect on firm value

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3,069 cited

Cited by

  • 2018Retire in Peace: Officials’ Political Incentives and Corporate Diversification in China218 cited
  • 2006The influence of financial and legal institutions on firm size198 cited
  • 2010Do foreign investors exhibit a corporate governance disadvantage? An information asymmetry perspective189 cited
  • 2013Coinsurance Within Business Groups: Evidence from Related Party Transactions in an Emerging Market178 cited
  • 2008From diversification premium to diversification discount during institutional transitions170 cited
  • 2018Does the Diversification–Firm Performance Relationship Change Over Time? A Meta‐Analytical Review158 cited
  • 2007Financial market integration and the value of global diversification: Evidence for US acquirers in cross-border mergers and acquisitions154 cited
  • 2003Corporate Governance and Firm Value: Evidence from the Korean Financial Crisis139 cited
  • 2009Valuation effects of global diversification138 cited
  • 2003Cross-country evidence on the value of corporate industrial and international diversification126 cited
  • 2008Industrial diversification, partial privatization and firm valuation: Evidence from publicly listed firms in China125 cited
  • 2012Four decades of research on product diversification: a literature review96 cited
  • 2004Governance and Performance Implications of Diversification Strategies: Evidence from Large U.S. Firms89 cited
  • 2020Corporate governance and institutions—A review and research agenda85 cited
  • 2011How relevant is corporate governance and corporate social responsibility in emerging markets?80 cited
  • 2012Corporate Diversification and Firm Value: A Survey of Recent Literature80 cited