Peer Effects in Corporate Governance

John, Kose; Kadyrzhanova, Dalida

doi:10.2139/ssrn.1108860

Cited by 30 publications

(34 citation statements)

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“…Model (1) shows the first‐stage regression results. The country‐industry‐median ISS41 index is highly positive and significant, implying that it significantly explains firm‐level governance, consistent with the findings in John and Kadyrzhanova (). Models (2) and (3) show the second‐stage regression with the dividends‐to‐total‐assets ratio as the dependent variable.…”

Section: Robustness Testssupporting

confidence: 87%

Corporate Governance and Dividend Payout Policy: Beyond Country‐level Governance

Chang

Dutta

Saadi

et al. 2018

J of Financial Research

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We address the mixed empirical findings on how corporate governance affects dividend payout policy by analyzing a large sample of firms from 30 countries. Our results indicate that firms with better firm‐level governance pay more dividends, even after controlling for country‐level governance. However, this relation is pronounced only in countries with low shareholder rights. In addition, we find that when the shareholder rights index is high, firm‐level governance is unrelated to dividend payout in the full sample period. Finally, we show that in high‐shareholder‐rights countries, firm‐level governance changes its role from before to after the 2008–2009 financial crisis.

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Section: Robustness Testssupporting

confidence: 87%

Corporate Governance and Dividend Payout Policy: Beyond Country‐level Governance

Chang

Dutta

Saadi

et al. 2018

J of Financial Research

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“…Peer effects in corporate practices have been extensively investigated for their role in corporate governance (Gillan et al, 2004;John & Kadyrzhanova, 2008), corporate ecological responsiveness (Bansal & Roth, 2000), and corporate disclosure of climate change and environmental information (Reid & Toffel, 2009;Zeng et al, 2012). More specifically, organizations look to the strategic choices of their industrial peers in deciding whether to disclose environmental information (Zeng et al, 2012).…”

Section: Community Institutional Logicsmentioning

confidence: 99%

Community Institutions and Initial Diffusion of Corporate Social Responsibility Practices in China's Banking Industry

Sun

Wang

et al. 2015

Manag. Organ. Rev.

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The existing literature does not provide adequate insight into the initial diffusion of new management practices, especially those that yield no immediate economic benefits, and have not yet gained legitimacy. We study how firms' local institutional environments influence early adoption behavior, examining the spread of corporate social responsibility (CSR) reports in China's banking industry from 2006 to 2011. We find that banks are more likely to be first movers of CSR reporting if they operate in communities where more companies publish CSR reports or where there are guidelines encouraging CSR reporting, and the impacts of these two institutional factors are further moderated by the length of time that banks have operated in communities. Our study highlights the usefulness of institutional theory in understanding the initial adoption of new management practices, when the organizational field is defined as a geographic community instead of an industry sector and its supply chain.

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“…Acquisitions involving bidders and targets in markets located farther apart are more likely to result in substantial restructuring (Alessandrini et al, 2008). Other studies examine location in relation to payout precommitment (John et al, 2011), board structure , regional peer effects in governance (John and Kadyrzhanova, 2008), local advantage in muni underwriting (Butler, 2008), and the role of geographic dispersion for employee relations (Landier et al, 2009).…”

Section: Geography and Bank Lendingmentioning

confidence: 99%