1.Department of Finance, College of Commerce, National Chengchi University, Taipei, Taiwan ;2.Department of Finance, School of Management, Ming Chuan University, 250 Zhong Shan N. Rd., Sec. 5, Taipei, 111, Taiwan ;
Abstract:
Review of Quantitative Finance and Accounting - We show that corporate governance mechanisms play an important role in controlling managers’ opportunistic behavior. Low executive equity...