... directors independent directors firm value spillover G34 As major accounting scandals keep occurring around the world notwithstanding increased media focus and tightening rules, ¹ a pertinent question to ask is the following: How does an accounting scandal in one firm affect...

... increase, while dividend, cash holding, capital expenditure, and acquisitions decrease, leading to an increase in post-legalization stock returns and firm value. The effects are weaker in countries with trading restrictions, in countries with lower net tax rates on dividends, for firms with higher target...

... governance scores. Within countries, there is a positive association between firm-level corporate governance scores and firm value; however, across countries, the association is negative or zero. * We thank JLFA co-executive editors Bernard Black and Joshua Ronen, an anonymous JLFA conference reviewer...