Notes
INTRODUCTION
1. Marcel Kahan and Edward Rock, “Embattled CEOs,” Texas Law Review 88 (2010): 987–1051.
2. “Changes in stock prices have substantial explanatory power for U.S. investment,… ” concludes Robert Barro, based on an empirical study. See Robert Barro, “The stock market and investment,” The Review of Financial Studies 3 (1990): 115–131. For a survey of the evidence on the significant impact of capital markets on corporate investment and growth, see Ross Levine, “Finance and Growth: Theory and Evidence,” Handbook of Economic Growth, vol. 1, part 1 (NY: Elsevier Publishing, 2005), pp. 865–934.
3. For evidence worldwide, see Mark Defond and Mingyi Hung, “Investor protection and corporate governance: Evidence from worldwide CEO turnover,” ...
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