In this paper, we investigate whether different business models in the same industry (passenger air transportation) lead to different corporate governance models. We found that low cost carriers (LCCs) organise their boards differently from full service carriers (FSCs), in order to achieve lower...

Institutional investors manage an increasingly substantial share of securities in the developed markets. Previous research has concluded that mutual funds’ clients do have asymmetric reactions, for they increase capital flows to mutual funds that are winners in performance, but fail to move...

Several supervisory authorities and governmental working groups issued recommendations on corporate governance for listed companies during the nineties. In this paper, we used a unique database that allowed us to analyse the relationship between the level of compliance of the recommendations...