Does Corporate Governance Matter in Competitive Industries

By Xavier Giroud, Holger M. Mueller. 2010

1,108 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/7dd63cae064e54e0a5d4526487097a21e4a40312

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Citations in the corpus

Competition and the Cost of Debt (2012, neutral): “I follow the literature and compute market shares based on firms’ sales (e.g., Hou and Robinson, 2006; Giroud and Mueller, 2010).”
Product market competition and debt choice (2018, background): “Indeed, Giroud and Mueller (2010) provide evidence that competition substitutes for corporate governance by mitigating the detrimental effects of Business Combination laws that reduce takeover threats.”
How Anticipated Employee Mobility Affects Acquisition Likelihood: Evidence from a Natural Experiment (2015, background): “…Combination Laws, an indicator variable coded to one for states passing laws that reduced the threat of hostile takeover (data obtained from Giroud and Mueller, 2010); and State Establishment Entry and State Establishment Exit, continuous variables calculated as the birth rate and death…”
Corporate governance and the information environment: Evidence from state antitakeover laws ☆ (2012, methodology): “Following prior literature (e.g., Giroud and Mueller, 2010) we use several alternative measures of investment to determine whether each firm-year had positive or negative industry- and stateadjusted growth in (1) assets (Compustat data6), (2) PP&E (Compustat data8), (3) COGS (Compustat data41), and…”
Economic policy uncertainty, stakeholder engagement, and environmental, social, and governance practices: The moderating effect of competition (2020, background): “Furthermore, corporate governance has no value-enhancing effect in a competitive environment (Giroud & Mueller, 2010), which supports the governance role of competition.”
WTO Accession and Performance of Chinese Manufacturing Firms (2017, background): “…Table A.6 in the online Appendix show that output tariffs do not raise entry rates.31 Entry rates are high in most 30 Similar patterns have been documented in other contexts where the competitive environment varied across industries, e.g., Giroud and Mueller (2010) and Cuñat and Guadalupe (2009).”
Corporate Governance and Firm-Specific Stock Price Crashes (2016, neutral): “Finally, we examine whether industry or firm characteristics, which are known to affect the effectiveness of corporate governance systems [Giroud and Mueller (2010)], moderate the”
Equity Incentives and Corporate Fraud in China (2015, positive): “Giroud and Mueller (2010, 2011) claim that product market competition can act as an external corporate governance mechanism.”
Effect of institutional ownership on dividends: An agency-theory-based analysis (2016, background): “Product market competition, therefore, monitors managers to increase firm efficiency (Holmstrom, 1982; Hart, 1983; Nalebuff and Stiglitz, 1983; Giroud and Mueller, 2010).”