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Corporate Governance Rating and Family Firms: The Greek Case

Spanos, Loukas; Tsipouri, Lena; Xanthakis, Manolis - EconWPA - 2005

Corporate governance (CG) studies have mostly focused on highly dispersed corporations. However, there is an important need for research exploring the governance structure of family-owned firms. The main characteristics that distinguish the family firm from the other types of corporations are...

Persistent link: https://www.econbiz.de/10005076961

Rôle de la Nature de l’Information dans l’Intermédiation Bancaire

LaRGE - EconWPA - 2004

On étudie le rôle du traitement de l’information dans le cadre de l’intermédiation financière bancaire. Dans ce contexte, on s’intéresse aux différentes solutions adoptées par les banques face aux différents types d’imperfections de l’information. On tente ensuite de mettre en...

Persistent link: https://www.econbiz.de/10005077001

An Empirical Analysis of Market Reaction Around the Bonus Issues in India

Mishra, Asim - EconWPA - 2005

Past researches have revealed significant abnormal returns for bonus issues even though the bonus issue date is known in advance and the distribution contains no new information. This study examines the stock price reaction to the information content of bonus issues with a view of examining the...

Persistent link: https://www.econbiz.de/10005134827

Firm Performance and Executive Compensation in the Savings and Loan Industry

Hermalin, Benjamin E.; Wallace, Nancy E. - EconWPA - 1997

Previous empirical analyses of the relationship between executive compensation and firm performance are often interpreted as suggesting that this relationship is weak. Although an absolute term like "weak" is ambiguous in this context, relative terms, such as "stronger," are meaningful. We argue...

Persistent link: https://www.econbiz.de/10005413065

Empirical evidence on the incentives to hedge transaction and translation exposure

Hagelin, Niclas; Pramborg, Bengt - EconWPA - 2004

We investigate Swedish firms’ use of financial hedges to reduce their foreign exchange exposure for 1997–2001. The study uses survey data, which enables us to differentiate between hedging aimed at translation exposure and transaction exposure, respectively. The survey responses show that...

Persistent link: https://www.econbiz.de/10005413167

A Catering Theory of Analyst Bias

Lai, Richard Kum-yew - EconWPA - 2005

We posit a theory that runs counter to how conventional wisdom thinks about analyst bias, that it is the result of distorted incentives by “upstream” factors like the analysts’ employers. We suggest that analysts are also heavily influenced by the beliefs of investors downstream, the...

Persistent link: https://www.econbiz.de/10005561608

Security Analysts and Market Reaction:Caveat for Monitoring

Kanungo, Rama Prasad - EconWPA - 2004

Security analysts, analyst forecast and market reaction are anecdotal in restructuring transactions, sometime conflicting and some other time imperative to the process of transaction. This article attempts to highlight a consistent association between analyst, market reaction and corporate...

Persistent link: https://www.econbiz.de/10005561639

Tax system and reforms in Europe: Spain

Tondani, Davide - EconWPA - 2005

current state of the main taxes, their future reforms are studied starting from 1975, when Spain shifted to democracy. Direct … taxes, indirect taxes and social security contributions are compared with the European average, trying to focus on the major … changes from 1975 to 1999. The structure of the main taxes is surveyed, showing the recent reforms and the differences with …

Persistent link: https://www.econbiz.de/10005076576

Are R&D subsidies a substitute or a complement to privately funded R&D? Evidence from France using propensity score methods for non- experimental data

Emmanuel, DUGUET - EconWPA - 2004

This study examines the effect of research and development subsidies on the private funding of R&D in France. We address this issue from the annual R&D survey over 1985-1997, which provides information about the R&D subsidies given by all the ministries to the firms having at least one full-time...

Persistent link: https://www.econbiz.de/10005124980

Foreign Ownership and Corporate Income Taxation: An Empirical Evaluation

Huizinga, Harry; Nicodeme, Gaetan - EconWPA - 2003

Economic integration in Europe has not led to a ‘race to the bottom’ regarding corporate income taxes. This paper … positive influence on corporate income tax levels. Using company-level data, we document that the foreign ownership share in …

Persistent link: https://www.econbiz.de/10005125955