We investigate the relation between long run takeover performance and board share ownership in the acquiring company for a sample of 142 UK takeovers completed between 1985-95. We find evidence of a non-linear relationship both between board ownership and takeover profitability, and between...

In this study we provide evidence of cross-sectional dependence of bidder-shareholder wealth and target’s board characteristics. More specifically we provide evidence that the percentage of non-executives, the board size, the stock holdings of executives, and the other directorships held by...

Core institutions of UK corporate governance, in particular those relating to takeovers, board structure and directors’ duties, are strongly orientated towards a norm of shareholder primacy. Beyond the core, in particular at the intersection of insolvency and employment law, stakeholder...

This article analyses the impact of the participation of venture capital (VC) firms on underpricing in 372 businesses brought to IPO during the period 1999-2001 in KOSDAQ. Korea's second-tier stock market, KOSDAQ, has grown dramatically since 1999 and about half of the firms listed in KOSDAQ...

This paper assesses the role of the structure of market networks in the imputation of value of knowledge-intensive resource exchanges. Our framework identifies two processes of knowing exchange value, namely knowing as learning and knowing as fad. We argue that knowing value as learning is...

We present two linked, longitudinal case studies of the use of quasi markets in UK broadcasting over the past decade: one looks at the regulated outsourcing of programme making to independent producers, the other at the development of an internal market system within the BBC. New network forms...

In this paper the "exit, voice and loyalty" approach by Albert O. Hirschman is applied to the case of the rise and evolution of the Prato industrial district, from post-war days until now. This is done, not so much to gain a better understanding of the specific events in Prato, but rather to...

This study combines the theories of international business and management with network theory in order to examines the networking activities of foreign affiliates. It focuses on a specific kind of network, which is taking place between firms based in geographic proximity. A comparative analysis...

The limited liability partnership has been heralded as a cost-effective way of doing business for professional firms that seek to reduce the personal liability risk of partners who are not directly involved in negligent acts or wrongdoing. The LLP business form has been adopted by all US states...

The paper analyses the relationship between, on the one hand, markets, competition and cooperation, and on the other hand, firms' innovative behaviour. Drawing on ESRC Centre for Business Research survey results, the paper uses descriptive statistics and a qualitative response model to examine...