As institutional investors are the largest shareholders in most listed UK firms, one expects them to monitor the firms they invest in. However, there is mounting empirical evidence which suggests that they do not perform any monitoring. This paper provides a new test on whether UK institutional...

This paper contributes to the research on corporate governance by predicting the effects of European takeover regulation.In particular, we investigate whether the recent reforms of takeover regulation in Europe are leading to a harmonization of the national legislations.With the help of 150...

This paper investigates the market's reaction to UK insider transactions and analyzes whether the reaction depends on the firm's ownership.There are three major findings.First, differences in regulation between the UK and US, in particular the speedier reporting of trades in the UK, may explain...