Regulation, Shareholder Rights, and Corporate Governance: An Empirical Note

19 Pages Posted: 14 Aug 2008

See all articles by Pornsit Jiraporn

Pornsit Jiraporn

Pennsylvania State University - School of Graduate Professional Studies (SGPS)

Wallace N. Davidson

Southern Illinois University at Carbondale - Department of Finance

Date Written: December 10, 2007

Abstract

We investigate the impact of regulation on shareholder rights and corporate governance. We gauge the strength of shareholder rights by measuring the number of restrictive governance provisions that suppress shareholder rights, the more restrictive the governance, the weaker the shareholder rights. We find that financial firms have less restrictive corporate governance, suggesting that financial regulations promote shareholder rights. On the other hand, regulation does not seem to impact shareholder rights in the utility industry.

Keywords: shareholder rights, corporate governance, regulation

JEL Classification: G28, G34

Suggested Citation

Jiraporn, Pornsit and Davidson, Wallace N., Regulation, Shareholder Rights, and Corporate Governance: An Empirical Note (December 10, 2007). Available at SSRN: https://ssrn.com/abstract=1223733 or http://dx.doi.org/10.2139/ssrn.1223733

Pornsit Jiraporn (Contact Author)

Pennsylvania State University - School of Graduate Professional Studies (SGPS) ( email )

30 E. Swedesford Road
Malvern, PA 19355
United States
(484) 753-3655 (Phone)

HOME PAGE: http://www.personal.psu.edu/pxj11/index1.html

Wallace N. Davidson

Southern Illinois University at Carbondale - Department of Finance ( email )

Mail Code 4626
Carbondale, IL 62901-4626
United States
618-453-1429 (Phone)
618-453-5626 (Fax)

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