The present paper provides new evidence that the introduction of transparency and disclosure rules may not necessarily boost firm performance. Focusing on the introduction of the Transparency and Disclosure (T&D) reforms initiated in Russia in 2002, we use data on staggered implementation of the...
Keywords:
Corporate governance reform, Transparency and Disclosure rules, Domestic and foreign listed firms, Q, Market-to-Book, EBIT-to-Asset ratio, Russia
