Grounded in agency theory, this study explores agency costs as a determinant of dividend
policy. Specifically, we examine how dividends are related to the strength of shareholder rights…

This study contributes to the debate on the benefits and costs of multiple directorships by
investigating the impact of multiple directorships on board meeting attendance. Individuals with …

In this paper we hypothesize that CEOs will be motivated to manage earnings prior to a
turnover decision. This motivation comes from the horizon problem for CEOs nearing retirement …

We examine whether firms manage earnings before issuing bonds to achieve a lower cost
of borrowing. We find significant income‐increasing earnings management prior to bond …

We have examined the volatility and macroeconomic drivers of venture capital (VC) investments
in the past 17 years from 1995 to 2011. We find that VC investments in the United States …

In this article, the authors introduce a regime-dependent nonlinear model to explain the
nonlinear return and risk characteristics of hedge funds. The explanatory power of their regime-…

We find that the most common board size for US publicly-traded firms ranges from eight to
eleven directors. Over time, small boards (seven or fewer directors), tend to increase their size, …

This paper tests two moving average technical trading rules for four Asian markets. Our
results indicate that moving average rules do indeed have predictive power and can discern …

The impact of globalization and worldwide competition has become excruciatingly
noticeable in China. The purpose of this study is to examine China’s transformation of state‐owned …

We use a sample of randomly selected CRSP-listed firms to explore the cross-sectional
determinants of corporate board size. We find that the average number of directors on boards …