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Abe de Jong (1970) is Professor in Corporate Finance and Corporate Governance at RSM Erasmus University. He obtained a PhD in finance at Tilburg University (1999). His research and teaching interests are in the area of empirical corporate finance and include capital structure choice, dividend...
Persistent link: https://www.econbiz.de/10010730461
In this paper we present the results of an international survey among 313 CFOs on capital budgeting, cost of capital, capital structure, and corporate governance. We extend previous results of Graham and Harvey (2001) by broadening their sample internationally, by including corporate governance,...
Persistent link: https://www.econbiz.de/10010730904
–agent problems predicts that managers of exchange-listed corporations may pursue acquisitions even when these do not add value for … the shareholders. Corporate governance structures serve to constrain managers in their acquisition activity. In this …
Persistent link: https://www.econbiz.de/10010730980
We study annual general meetings of shareholders in the Netherlands. The Dutch corporate governance system is characterized by relatively concentrated shareholdings and large stakes owned by pension funds, banks and insurance companies. The legal protection of shareholders is poor due to...
Persistent link: https://www.econbiz.de/10010730998
This paper assesses the effectiveness of self-regulation to promote investor interests. The Netherlands provides an excellent opportunity to gather such evidence for two reasons. First, characteristics of the Dutch corporate governance structure have made it the recent focus of attention by the...
Persistent link: https://www.econbiz.de/10010731323
Royal Ahold (Koninklijke Ahold NV) was one of the major success stories in the 1990s and is one of the major failures in corporate governance, suffering a complete meltdown in 2003. This clinical study analyzes Ahold’s growth strategy through acquisitions and isolates the cause of the failed...
Persistent link: https://www.econbiz.de/10010731357
This paper examines the effects of different corporate governance mechanisms on the cost of debt for large European firms and documents a novel interaction effect between shareholder rights and disclosure. Improved disclosure leads to a lower credit spread only if shareholder rights are low. A...
Persistent link: https://www.econbiz.de/10010837530
interesting for private equity investors that are looking to partner with incumbent management. This offers managers the choice to … managers decide for a management buyout without any involvement of private equity in case they are less financially constrained …: when their firms are undervalued, have high cash levels, are smaller and less financially visible, and the managers own a …
Persistent link: https://www.econbiz.de/10010837590
prevent managers from wasting excess cash. For non-UK firms we find that the value of €1 of excess cash in a poorly governed …
Persistent link: https://www.econbiz.de/10010837639
in the allocation of decision rights between board of directors (representing members) and managers. The traditional role … of the board is to direct the activities of the managers. However, professional management increasingly makes most …
Persistent link: https://www.econbiz.de/10010730937