It is obvious that the performance of firms hinges upon the dynamics of both industry- and firm-specific factors. A less obvious, and perhaps a more important, line of inquiry is that to the extent that they have a bearing on firm performance, how much do these two groups of factors respectively...

Equity ownership by public pension funds (PPFs) is widely used in the literature (see, e.g., Cremers and Nair <CitationRef CitationID="CR6">2005</CitationRef>; Dittmar and Mahrt-Smith <CitationRef CitationID="CR10">2007</CitationRef>) as a measure of the strength of shareholder monitoring/governance. This paper raises caution on such practices by illustrating an inverted-U shape...</citationref></citationref>

Prior empirical research finds positive, negative and neutral relationships between family involvement in business and firm performance. We argue that some of the challenges that have plagued empirical research in this field are related to the measurement of family involvement in business....

This paper focuses on an important issue, which has generally received less attention in corporate governance literature, being the effect of managerial ownership on the relationship between debt and firm performance. By employing a sample of Egyptian listed firms, the generalized least squares...

Companies can increase executive compensation by allowing dividends to be paid on unvested restricted stocks grants, also known as stealth compensation. Examining all S&P 500 firms over the period 2003–2007, we find that more than half of the dividend paying firms allow this practice. We look...

This study investigates the relation between corporate governance with (i) financial management decisions such as earnings management and sub-optimal investment, and (ii) firm performance in maritime firms. The study reveals that important corporate governance measures, such as insider...

This paper investigates the governance role of multiple large shareholders (MLS, henceforth), as evidenced by their impact on the valuation of cash holdings. For a sample of 2,723 firms from 22 countries, we find that the presence of MLS enhances the valuation of firms’ cash holdings. In...

This paper focuses on the relationship between Chief Executive Officer (CEO) and Chairperson characteristics and firm performance. Specifically, the study examines the association between the characteristics of the CEO and the Chairperson of the board and firm performance. Using a sample of S&P...

Regulators and researchers alike have focused significant attention on the structure of the corporate board. In general, the results of prior empirical studies suggest that larger boards are costly to firms because of communication and co-ordination problems. How firms use committees to mitigate...