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Corporate governance and IPO underpricing in a cross-national sample: A multilevel knowledge based view
Strategic Management Journal. 2015. Vol. 36. No. 8. P. 1174-1185.
Lopez Iturriaga F. J., Judge W., Witt M., Zattoni A., Talaulicar T., Chen J. J., Lewellyn K., Hu H. W., Shukla D., Bell R. G., Gabrielsson J., Yamak S., Fassin Y., McCarthy D., Rivas J. L., Fainshmidt S., Ees H. V.
Prior studies of IPO underpricing, mostly using agency theory and single-country samples, have generally fallen short. In this study, we employ the knowledge-based view (KBV) to explore underpricing across 17 countries. We find that agency indicators are insignificant predictors, board of director knowledge limits underpricing, and external knowledge both substitutes for and complements internal board knowledge. This third finding suggests that future KBV studies should consider how internal and external knowledge states interact with each other. Our study offers new insights into the antecedents of underpricing and extends our understanding of comparative governance and the KBV of the firm. Copyright © 2014 John Wiley & Sons, Ltd.
Масленникова М. А., Stepanova A. N., Корпоративные финансы 2010 № 3(15) С. 35-46
The paper is based on the study devoted to the ownership structure impact on corporate performance through the integrated conception of corporate financial architecture. The object of the study is top Russian and Brazilian public non-financial companies in the end of crisis 2008 year. First of all, we contribute to the literature by applying the ...
Added: October 27, 2012
Vernikov A. V., / НИУ ВШЭ. Series WP1 "Институциональные проблемы российской экономики". 2007. No. 02.
The Working Paper examines peculiarities of the Russian model of corporate governance and control in the banking sector. The study relies upon theoretical as well as applied research of corporate governance in Russian commercial banks featuring different forms of ownership. We focus on real interests of all stakeholders, namely bank and stock market regulators, bank ...
Added: April 2, 2013
Orekhova S., Kudin L., Kupera A., Управленец 2019 Vol. 10 No. 4 P. 2-13
Solving organizational effectiveness problems is largely dependent on the quality of the corporate governance system. One of its main aspects is characteristics and actions of a firm’s CEO. The paper evaluates how CEO turnover affects a company’s performance. Having conducted a critical analysis of the current approaches describing its role and impact on business success, the ...
Added: March 8, 2020
Хмелева П. А., Stepanova A. N., / National Research University Higher School of Economics. Series WP BRP "Basic research program". 2022.
This paper investigates the impact of family participation and founder involvement in business on innovation in high-tech companies from the S&P500 index over the period 1999–2017. We demonstrate that the family firm paradox (family firms tend to invest less in innovation while remaining more efficient in innovation output) is not so obvious for technological companies. ...
Added: May 14, 2023
Vernikov A. V., Journal of Corporate Finance Research 2013 No. 3(27) P. 23-36
The paper aims to add to the literature on the connection between corporate governance and company valuation. We refer to the case of the Russian banks to suggest that connection between gpvernance and the stock price cannot be established in a convincing way due to data scarcity. Russia's stock market can supply sufficient statistical material ...
Added: November 16, 2013
Ivashkovskaya I., Финансы и кредит 2009 № 48(384) С. 21-28
В статье отмечается, что в связи с глобальным финансовым кризисом проблема влияния механизмов корпоративного управления на эффективность компании приобретает особое значение. Предлагается новая модель исследования взаимосвязи качества корпоративного управления и стратегической эффективности компании на основе экономической прибыли. Анализируются результаты апробации модели на панельных данных 26 крупных российских компаний за 2002-2007 гг. ...
Added: December 3, 2009
Grigorian M., Ризакулов Ф., Транспорт Российской Федерации 2018 № 6 (79) С. 23-25
The necessity of increasing the efficiency of corporate governance in the railway transport of the Republic of Uzbekistan is substantiated and disclosed. An assessment of the main results of the railway company activity is given. Based on the analysis of the performance indicators of the railway company, the main directions for improving corporate governance were ...
Added: January 21, 2019
Zhigalov S., Яковлев А. С., Банковское право 2021
The article explores features of the golden share and conditions under which this instrument of corporate governance could be invoked. Looking at the experience of the golden share application, authors put forward the hypothesis that it is an extractive institution and, at the same time, consider possible ways of improving it. ...
Added: August 17, 2021
Rasskazov S. V., Rasskazova A. N., Дерюгин П. П., М. : ИНФРА-М, 2020
The first section of the textbook includes topics that reveal the mechanisms and tools of corporate governance, the second-the assessment of its quality. The texts of 10 lectures with diagrams and illustrations are presented. A number of topics involve practical training in the package Mathcad or similar. Solutions of problems, including program listings, are given. ...
Added: December 9, 2019
Shilo P., Королёв В. А., Посадов И. А., [б.и.], 2014
Учебное пособие предназначено для слушателей программ MBA, в том числе Executive MBA, топ-менеджеров, действующих и потенциальнх членов коллегиальных корпоративных органов, акционеров, а также для всех интересующихся проблемами корпоративного управления. Пособие интегрирует теоретические и практические аспекты, уделяя внимание как теоретическим концепциям и понятийному аппарату, так и анализу практики корпоративного управления в реальных компаниях. ...
Added: April 16, 2014
Rasskazov S. V., Rasskazova A. N., СПб. : Отдел оперативной полиграфии НИУ ВШЭ – Санкт-Петербург, 2013
When writing this tutorial, the contributions received by the authors with the assistance of the NTF - National Training Fund subproject "Creating a center of excellence for economics teachers ' Innovation Project Development of education and work , received diplomas Russian competitions intellectual projects " Ideas for Russia " ( 2004) and "Power" (2008 , ...
Added: March 10, 2013
Tatiana Dolgopyatova, Libman A., Yakovlev A., / Высшая школа экономики. Series MAN "Management". 2016. No. 49.
This paper investigates the role of boards of directors of conglomerate subsidiaries in emerging markets. The paper based on a case study of AFK Sistema—a large diversified Russian business group including subsidiaries in 15 sectors. We show that creating corporate governance institutions at the subsidiary level can have unexpected advantages for the group as a ...
Added: January 25, 2016
Dolgopyatova T. G., Libman A., Yakovlev A. A., Journal for East European Management Studies 2018 Vol. 23 No. 2 P. 177-202
The paper investigates the role of corporate governance institutions at the subsidiary level in conglomerates in emerging markets. The literature typically highlights that these institutions are necessary to reassure minority shareholders and thus to attract investors. We show that corporate governance institutions, particularly supervisory boards, can be applied for a different purpose – to organize ...
Added: September 14, 2018
Karminsky A. M., Rybalka A., Procedia Computer Science 2019 Vol. 162 P. 496-502
The paper identifies and analyzes key factors in the sectoral ownership structure, the influence of the CEO and competition among owners at the industry level and business size. We show the positive impact on the financial sustainability of the company of the CEO's equity participation (compared to the average industry share). We also show that if the property is distributed more evenly among owners-founders, ...
Added: October 24, 2019
Isaev D., Бизнес-информатика 2012 № 3 (21) С. 63-69
In the paper the questions of monitoring and planning of Performance Management Information Support Systems (PMISS) development are discussed. The role of the monitoring and planning functions in the general development management system is disclosed, basic requirements to these functions and general principles of their practical implementation are formulated. The main elements of the monitoring ...
Added: October 21, 2012
Шипилова А. О., Корпоративные финансы 2010 № 2(14) С. 94-102
The article familiarizes the reader with key ratings of corporate governance. It is concerned with the goals, specific features and methodology of such ratings as well as the availability of such ratings for Russian companies. The paper gives consideration to both commercial and research ratings. On basis of the analysis of existing ratings and research ...
Added: October 28, 2012
Karminsky A. M., Rybalka A., Шевченко Е. А., Российский журнал менеджмента 2018 Т. 16 № 1 С. 95-108
The successful activities of any commercial organization, in particular the bank, are based on a
clear corporate financial architecture: an effective financial strategy and corporate governance
system (relationship management, board of directors and shareholders). CEO is the main representative
of the bank and a reflection of its success or failure in the market. In this regard
there is a ...
Added: April 3, 2018
Malakhov D., Jakobson L. I., Прикладная эконометрика 2021 Т. 62 С. 101-124
According to the NGO theory, the main comparative advantage of these organizations is the high level of trust, provided primarily by the peculiarities of corporate governance and information openness. In Russia, these features of NGOs are still relatively weak, but they are gradually being mastered by the non-profit sector. Based on the data of an ...
Added: June 21, 2021
Lopez Iturriaga F. J., Zavertiaeva M. A., Russian Management Journal 2020 Vol. 18 No. 1 P. 29-50
In this paper we apply social network analysis to study the boards of directors of 107 large listed Russian firms between 2009 and 2014. Traditional corporate governance metrics, such as demographic characteristics, experience or multiple directorships, confirm a previously established positive trend towards greater independence and better qualification of the boards of Russian firms. We ...
Added: June 16, 2020
Muravyev A., Черешенков П. Н., Лоскутов В. А. et al., Национальный совет по корпоративному управлению, 2020
Центральной темой XII выпуска «Национального доклада» стало корпоративное управление в российских металлургических компаниях. Авторы, в частности, исследуют изменения в структуре и составе советов директоров в 18 ведущих металлургических компаниях страны, а также основные направления совершенствования корпоративного управления на Магнитогорском и Новолипецком металлургических комбинатах. В докладе впервые представлены главы, посвященные исследованию взаимосвязи корпоративного управления с вопросами экологии и социальной ответственности (ESG) и ...
Added: January 20, 2021
Dulyak Y., Корпоративные финансы 2012 № 1(21) С. 24-32
В статье рассматривается авторский подход к периодизации этапов эволюции совета директоров в российских компаниях. Оценены перспективы и возможности дальнейшего развития этого института. Автор выделяет этапы на основе того, как менялась роль советов в российских компаниях. В результате исследования выделено три этапа эволюции роли совета директоров в России. Кроме этого, продемонстрирована система факторов (институциональная среда, правовое ...
Added: December 26, 2012
Великий Новгород : НовГУ им. Ярослава Мудрого, 2012
Added: November 14, 2016
Великий Новгород : НовГУ им. Ярослава Мудрого, 2011
Added: November 14, 2016
Влияние советов директоров на эффективность бизнеса: результаты зарубежных и российских исследований
Dulyak Y., Менеджмент и бизнес-администрирование 2011 № 4 С. 104-123
Results of empirical researches of interrelation parameters of activity of boards of directors and of efficiency of the companies are in detail characterized. Features of institute of board of directors in domestic business are considered. ...
Added: December 26, 2012