Narrow search
Showing 1 - 10 of 220
Cover Image
A Corporate Governance Reform as a Natural Experiment for Incentive Contracts
Bayer, Christian; Burhop, Carsten - EconWPA - 2004
The present paper proposes to employ a major shift in the legal and institutional environment to identify contractual incentives from the correlation of executive pay and firm performance. We use the reform of the German stock companies act in 1884 as such a major shift and estimate the...
Persistent link: https://www.econbiz.de/10005413146
Cover Image
Multiple bank lending relationships in Italy: their determinants and the role of firms’ governance features
Vulpes, Giuseppe - EconWPA - 2005
The aim of this paper is to analyze the determinants of multiple-bank lending - one of the main features of the bank …-firm relationships in Italy. The analysis suggests that multiple bank lending is significantly and importantly linked with firms … characterised by a greater level of multiple-bank lending. In this respect multiple-bank lending may be the consequence of a risk …
Persistent link: https://www.econbiz.de/10005134663
Cover Image
If only I could sack you! Management turnover and performance in large German Banks between 1874 and 1913
Bayer, Christian; Burhop, Carsten - EconWPA - 2005
We analyze the relation of firm performance and managerial turnover in 19th century German banking by probit estimation. This period covers a major reform of corporate governance. Before the reform performance and turnover are unrelated, wheras after the reform more succesfull managers leave...
Persistent link: https://www.econbiz.de/10005556869
Cover Image
What’s Common to Relationship Banking and Relationship Investing? Reflections within the Contractual Theory of the Firm
Neuberger, Doris - EconWPA - 2005
The financial systems in continental Europe are moving from bank intermediation to intermediation by non-bank …
Persistent link: https://www.econbiz.de/10005134639
Cover Image
What’s Common to Relationship Banking and Relationship Investing? Reflections within the Contractual Theory of the Firm
Neuberger, Doris - EconWPA - 2005
. Banks traditionally holding close relationships with firms are substituted by non-bank institutional investors. The present …
Persistent link: https://www.econbiz.de/10005134668
Cover Image
Common Structures of Asset-Backed Securities and Their Risks
Sabarwal, Tarun - EconWPA - 2005
In recent years, one area of growing concern in corporate governance is the accounting and transfer of risk using special purpose entities (or trusts). Such entities are used widely in issuing asset-backed securities. This paper provides an overview of the asset-backed securities market, and...
Persistent link: https://www.econbiz.de/10005134710
Cover Image
What’s Common to Relationship Banking and Relationship Investing? Reflections within the Contractual Theory of the Firm
Neuberger, Doris - EconWPA - 2005
. Banks traditionally holding close relationships with firms are substituted by non-bank institutional investors. The present …
Persistent link: https://www.econbiz.de/10005134829
Cover Image
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
Cover Image
Does Ownership Structure Influence Firm Value? Evidence from India
Kumar, Jayesh - EconWPA - 2004
This paper examines the effect of ownership structure on the firm performance for an unbalanced panel of 2478 Indian corporate firms from 1994 to 2000. We examine the effect of interactions between corporate, foreign, institutional, and managerial ownership on firm performance. Using panel data...
Persistent link: https://www.econbiz.de/10005134786
Cover Image
The Transfer of Control in British and German IPOs
Goergen, Marc - EconWPA - 1998
This paper analyses the evolution of ownership and control in German and UK IPOs. In a first stage we try to explain why the pre-IPO shareholders of some firms sell out whereas those of other firms do not. German IPOs are matched by size with UK IPOs to obtain a first sample and matched by...
Persistent link: https://www.econbiz.de/10005134798