| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w12525 |
| 来源ID | Working Paper 12525 |
| The Corporate Governance Role of the Media: Evidence from Russia | |
| Alexander Dyck; Natalya Volchkova; Luigi Zingales | |
| 发表日期 | 2006-09-21 |
| 出版年 | 2006 |
| 语种 | 英语 |
| 摘要 | We study the effect of media coverage on corporate governance by focusing on Russia in the period 1999-2002. This setting offers us three ideal conditions for such a study: plenty of corporate governance violations, no alternative mechanisms to address them, and the presence of an investment fund (the Hermitage) that actively lobbies the international press to shame companies perpetrating those violations. We find that Hermitage’s lobbying is effective in increasing the coverage of corporate governance violations in the Anglo-American press. We also find that coverage in the Anglo-American press increases the probability that a corporate governance violation is reversed. This effect is present even when we instrument coverage with an exogenous determinant, i.e. the Hermitage’s portfolio composition at the beginning of the period. The Hermitage’s strategy seems to work in part by impacting Russian companies’ reputation abroad and in part by forcing regulators into action. |
| 主题 | Financial Economics ; Corporate Finance ; Development and Growth ; Development |
| URL | https://www.nber.org/papers/w12525 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/570183 |
| 推荐引用方式 GB/T 7714 | Alexander Dyck,Natalya Volchkova,Luigi Zingales. The Corporate Governance Role of the Media: Evidence from Russia. 2006. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w12525.pdf（367KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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