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Opening the "black box" How internal reporting systems contribute to the quality of financial disclosure

Cavelius, Florence - HAL - 2011

investments. The purpose of this paper is to open the "black box" of the construction of financial disclosure by analyzing the …, the quality of the financial disclosure and the internal reporting systems are measured, and analyzed with a view to … finding some links between them. It is expected that the quality of disclosure is dependent on the quality of the internal …

Persistent link: https://www.econbiz.de/10010820808

An Experiment in the Economic Consequences of Additional Disclosure: The Case of the Fair Value of Unlisted Equity Investments

Ding, Yuan; Jeanjean, Thomas; Lesage, Cédric; Stolowy, … - HAL - 2009

We investigate the economic consequences of additional disclosure about assets with no active market in terms of … value 24 investments. We manipulate the level of disclosure on the fair value of assets (Limited versus Full), the …. Full) disclosure, participants are given a point estimate for the fair value of the investment (resp. plus a range of …

Persistent link: https://www.econbiz.de/10008791819

How Does the Stock Market Respond to Chemical Disasters?

Laguna, Marie-Aude; Capelle-Blancard, Gunther - HAL - 2010

In this paper, we examine the stock market reaction to industrial disasters. We consider an original sample of 64 explosions in chemical plants and refineries worldwide over the period 1990-2005. A quarter of the accidents resulted in a toxic release, and half of them caused at least one death...

Persistent link: https://www.econbiz.de/10010635087

La RSE comme instrument de la gouvernance d'entreprise

Cézanne, Cécile; Rubinstein, Marianne - HAL - 2010

Après avoir mis en évidence les problèmes de gouvernance posés par la " nouvelle firme ", désintégrée verticalement et intensive en capital humain, nous avançons que la responsabilité sociale de l'entreprise (RSE) peut servir à réguler les rapports de force entre les partenaires...

Persistent link: https://www.econbiz.de/10009323659

Private Equity investment performance : Do social ties between venture capitalists and CEOs matter

Bonnet, Christophe - HAL - 2001

Our area of interest is the relationship between Private Equity professionals and the CEOs of companies. Building on previous research on board-CEO relationship and on venture capital and management buyout governance, we aim at complementing the frequently used agency theory perspective by way...

Persistent link: https://www.econbiz.de/10010549128

Corporate governance, value and performance of firms: New empirical results on convergence from a large international database

Krafft, Jackie; Qu, Yiping; Quatraro, Francesco; Ravix, … - HAL - 2013

This paper aims to revisit the link between corporate governance, value, and firm performance by focusing on convergence, understood as the way that non-US firms are adopting US best practice in terms of corporate governance, and the implications of this adoption. We examine theoretical...

Persistent link: https://www.econbiz.de/10010607938

What do we know about delistings? A survey of the literature

Djama, Constant; Martinez, Isabelle; Serve, Stéphanie - HAL - 2012

Relative to the decision to go public, the decision to delist is less studied in the corporate finance literature despite its importance in the life of the firm. This article surveys the recent literature, both theoretical and empirical, regarding delisting in an international context...

Persistent link: https://www.econbiz.de/10010736419

Taxes on severance pay, corporate governance and golden handshakes

Llense, Fabienne - HAL - 2009

This paper puts forward an explanation of the rapid increase in golden handshake provision in Europe over the last ten years, based on both enhanced investor protection and attractive tax codes for severance pay. This article takes up a framework in which asymmetric information about the quality...

Persistent link: https://www.econbiz.de/10010738557

Ownership concentration and firm performance: Evidence from an emerging market

Grosfeld, Irena - HAL - 2006

The initial view of the advantages of ownership concentration in joint stock companies was determined by the concern about the opportunistic managerial behavior. The growing importance of knowledge and human capital in the operation of firms shifts the focus of concern: excessive ownership...

Persistent link: https://www.econbiz.de/10010738833

Large shareholders and firm value: Are high-tech firms different?

Grosfeld, Irena - HAL - 2009

This paper explores the relationship between ownership structure and firm value in a transition economy. It distinguishes firms belonging to the sector of innovative technologies and firms from more "traditional" industries. For the latter, the results of the estimation of a simultaneous...

Persistent link: https://www.econbiz.de/10010738964