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Background and ground rules for ECGI's Clinical
Paper Competition
| Background |
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The Journal of Financial
Economics regularly publishes “clinical papers”
to shed light on specific corporate governance issues and
institutions. These papers often help in deepening understanding
of such issues, compared to formal statistical approaches,
delivering answers or suggesting interpretations in instances
where econometric analysis fails. They can also help in stimulating
theoretical work, in particular when institutions matter and
their operation is not well known.
Corporate governance cases in Europe are a fertile ground
for this approach. Europe has a broad range of corporate governance
institutions that vary within and across countries. |
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| Yet very few “clinical
papers” published in finance journals analyse this material.
At the same time, the detailed workings of European corporations
are still not well known, raising the danger of simplification
and misinterpretation in international comparisons of corporate
governance. |
| Definition of a clinical
paper |
| The clinical paper method
is set out in "Clinical papers and their role in the
development of financial economics" by Michael C. Jensen,
Eugene F. Fama, John B. Long, Jr. , Richard S. Ruback, G.
William Schwert, Clifford W. Smith, Jr. and Jerold Warner,
Journal
of Financial Economics, Volume 24, Issue 1, September 1989,
Pages 3-6. Click here
to download a copy of this article. Examples of clinical
papers can be found in past issues of the JFE, available from
Elsevier |
| Geographical definition of
European cases |
| The clinical
papers must draw on cases/data from at least one Member State
of the European Union, the New Member States of the Union,
applicant countries, or another European country. For an exact
definition of these, see the list of countries on the European
Union website. |
| Eligibility of researchers |
| The competition
is open to any researcher, whether working in Europe or elsewhere. |
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