Institution Studies

Informal institutions—the shared but unwritten norms and values of a society—are a critical element of the study of international business. However, research on these institutions is theoretically and empirically challenging. For this reason, “there has been limited work on the topic, a lack of clarity on how to conceptualize and measure informal ... 閱讀更多

Debt covenants are an important monitoring mechanism that govern cash-flow rights and control rights between borrowers and lenders. Although it is believed that enforcement and property rights are primary determinants of a firm’s ability to write comprehensive contracts, there is currently little evidence supporting if or how these legal institutions affect ... 閱讀更多