National Culture and the Value Implication of Corporate Governance Available to Purchase

We thank JLFA co-executive editors Bernard Black and Joshua Ronen, an anonymous JLFA conference reviewer, two anonymous JLFA referees, Muhammad Farooq Ahmad, Jay Cai, Craig Doidge, Art Durnev, Robert Goex, Eric Hughson, Andrew Karolyi, Feng Li, Rose Liao, Ernst Maug, Ajay Patel, Jiaping Qiu, Ghon Rhee, Sergei Sarkissian, Jordan Siegel, John Wei, Ting Xu, Shan Zhao, seminar participants at the BI Norwegian Business School, Cass Business School, École Polytechnique Fédérale de Lausanne, Laval University, LSE, University of Lausanne, University of Verona, University of Rome III, and University of Zurich, and conference participants at the Northern Finance Association Meetings (Niagara Falls), the FMA Asian Conference (Tokyo), the FMA European Conference (Maastricht), the China–Europe Conference on Transparency, Economic Institutions and Governance (Rotterdam), the Third Symposium on Emerging Financial Markets (Beijing), the 9^th International Conference on Asia-Pacific Financial Markets (Seoul), the Citrus Finance Conference (Riverside), the China International Conference in Finance (Shenzhen), the American Economic Association Meetings (San Francisco), and the JLFA Conference (Hong Kong) for their helpful comments. We are grateful to Tom White (GMI Ratings) for providing the data, and Ting Xu and Guangli Lu for excellent research assistance. Griffin and Li acknowledge financial support from the Social Sciences and Humanities Research Council of Canada and the UBC-Sauder Research Award in the Economics of Pension Plans. We are responsible for all errors.