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Patterns in Payout Policy and Payout Channel Choice of UK Firms in the 1990s

Renneboog, Luc; Trojanowski, G. - Tilburg University, Center for Economic Research - 2005

existing payout literature studies by analyzing jointly the trends in dividends and share repurchases.Unlike in the US, we find … repurchases is increasing, but dividends still constitute a vast proportion of the total payout.Firms repurchasing shares usually … pay dividends as well.We also document that there is a strong relationship between the presence of blockholders and the …

Persistent link: https://www.econbiz.de/10011092560

How Weak is the Weakest-Link Principle?On the Measurement of Firm Owners’Control Rights

Edwards, Jeremy; Weichenrieder, Alfons - CESifo - 2004

The paper argues that the weakest link principle, which has been widely used as a measure of ultimate owners’ control rights, has a number of serious problems. A theoretically more satisfactory method of measuring control rights, based on voting power indices, is proposed, and the different...

Persistent link: https://www.econbiz.de/10005196258

Politics-Business Interaction Paths

Belloc, Marianna; Pagano, Ugo - CESifo - 2009

Most pre-crisis explanations of the various corporate governance systems have considered the separation between ownership and control to be an advantage of the Anglo-American economies. They have also attributed the failure of other countries to achieve these efficient arrangements to their...

Persistent link: https://www.econbiz.de/10008572479

Corporate Governance Structures, Control and Performance in European Markets : A Tale of Two Systems

Renneboog, Luc; Crama, Y.; Leruth, L.; Urbain, J-P. - Tilburg University, Center for Economic Research - 1999

Traditionally share price returns and their variance have been explained by factors linked to the operations of the company such as systematic risk, corporate size and P/E ratios or by factors related to the influence of the macro-economic environment. In these models, the institutional...

Persistent link: https://www.econbiz.de/10011092775

How do Mergers and Acquisitions Affect Bondholders in Europe? Evidence on the Impact and Spillover of Governance and Legal Standards

Renneboog, Luc; Szilagyi, P.G. - Tilburg University, Center for Economic Research - 2006

This paper contributes to the comparative corporate governance literature by showing how cross-country differences in governance and legal standards affect the bondholder wealth effects of European merger and acquisitions (M&As).Using investment-grade Eurobonds, we find some remarkable...

Persistent link: https://www.econbiz.de/10011090642

Recent Developments in German Corporate Governance

Renneboog, Luc; Goergen, M.; Manjon, M.C. - Tilburg University, Center for Economic Research - 2004

We contrast the features of the German corporate governance system with those of other systems and discuss the recent regulatory initiatives.For example, the rules on insider trading and anti-trust have been strengthened.The Restructuring Act has been revised to prevent minority shareholders...

Persistent link: https://www.econbiz.de/10011090720

The Impact of Ownership Structure on Firm Performance : Evidence From a Large Emerging Market

Douma, S.W.; George, R.; Kabir, M.R. - Tilburg University, Center for Economic Research - 2002

We examine how ownership structure affects the performance of firms using firm level data from a large emerging market, India.We specifically focus on a previously unexplored phenomenon, namely the differential role played by foreign institutional and foreign corporate shareholders.An...

Persistent link: https://www.econbiz.de/10011090733

Corporate Governance Convergence : Evidence from Takeover Regulation Reforms in Europe

Renneboog, Luc; Goergen, M.; Martynova, M. - Tilburg University, Center for Economic Research - 2005

This paper contributes to the research on corporate governance by predicting the effects of European takeover regulation.In particular, we investigate whether the recent reforms of takeover regulation in Europe are leading to a harmonization of the national legislations.With the help of 150...

Persistent link: https://www.econbiz.de/10011092169

A Corporate Governance Index : Convergence and Diversity of National Corporate Governance Regulations

Renneboog, Luc; Martynova, M. - Tilburg University, Center for Economic Research - 2010

The issue of appropriate corporate governance framework has been a focal point of recent reforms in many countries. This study provides a comprehensive comparative analysis of corporate governance regulatory systems and their evolution over the last 15 years in 30 European countries and the US....

Persistent link: https://www.econbiz.de/10011092184

The Managerial Labor Market and the Governance Role of Shareholder Control Structures in the UK

Renneboog, Luc; Trojanowski, G. - Tilburg University, Center for Economic Research - 2002

We simultaneously analyze two mechanisms of the managerial labor market: CEO turnover and monetary remuneration schemes.Sample selection models and hazard analyses applied to a random sample of 250 firms listed on the London Stock Exchange over a six-year pre-Cadbury period show that managerial...

Persistent link: https://www.econbiz.de/10011092291

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