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Lying in Business : Insights from Hannah Arendt’s ‘Lying in Politics’
Graafland, Johan; Eenkhoorn, P. - Tilburg University, Center for Economic Research - 2010
The famous political philosopher Hannah Arendt develops several arguments why truthfulness cannot be counted among the political virtues. This article shows that similar arguments apply to lying in business. Based on Hannah Arendt’s theory, we distinguish five reasons why lying is a structural...
Persistent link: https://www.econbiz.de/10011091931
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Performance-vested Stock Options and Pay-Performance Sensitivity
Kuang, Y.; Qin, B. - Tilburg University, Center for Economic Research - 2006
The paper investigates the incentive effects of performance-vested stock options (PVSOs) in aligning management interests with shareholder wealth. Performance targets attached to option vesting would prevent executives from receiving rewards from outcomes that are unaffected by their effort.Such...
Persistent link: https://www.econbiz.de/10011090438
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Shareholding Cascades : The Separation of Ownership and Control in Belgium
Renneboog, Luc; Becht, M.C.; Chapelle, A. - Tilburg University, Center for Economic Research - 1999
This paper analyses the control of Belgian listed companies. The analysis reveals that control of listed companies in … this concentration. The main characteristics of the Belgian corporate ownership and equity market can be summarised as … extent industrial companies, are the main investor categories whose share stakes are concentrated into powerful control …
Persistent link: https://www.econbiz.de/10011092838
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Socially Responsible Firms
Renneboog, Luc; Liang, H.; Ferrell, A. - Tilburg University, Center for Economic Research - 2014
In the corporate finance tradition starting with Berle & Means (1923), corporations should generally be run so as to maximize shareholder value. The agency view of corporate social responsibility (CSR) generally considers CSR as a managerial agency problem and a waste of corporate resources,...
Persistent link: https://www.econbiz.de/10011092285
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How do Mergers and Acquisitions Affect Bondholders in Europe? Evidence on the Impact and Spillover of Governance and Legal Standards
Renneboog, Luc; Szilagyi, P.G. - Tilburg University, Center for Economic Research - 2006
This paper contributes to the comparative corporate governance literature by showing how cross-country differences in governance and legal standards affect the bondholder wealth effects of European merger and acquisitions (M&As).Using investment-grade Eurobonds, we find some remarkable...
Persistent link: https://www.econbiz.de/10011090642
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The Importance of Trust for Investment : Evidence From Venture Capital (Revision of DP 2009-43)
Da Rin, Marco; Bottazzi, L.; Hellmann, T. - Tilburg University, Center for Economic Research - 2010
eliminate it. We also examine the relationship between trust and sophisticated contracts involving contingent control rights and …
Persistent link: https://www.econbiz.de/10011090711
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Recent Developments in German Corporate Governance
Renneboog, Luc; Goergen, M.; Manjon, M.C. - Tilburg University, Center for Economic Research - 2004
We contrast the features of the German corporate governance system with those of other systems and discuss the recent regulatory initiatives.For example, the rules on insider trading and anti-trust have been strengthened.The Restructuring Act has been revised to prevent minority shareholders...
Persistent link: https://www.econbiz.de/10011090720
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The Impact of Ownership Structure on Firm Performance : Evidence From a Large Emerging Market
Douma, S.W.; George, R.; Kabir, M.R. - Tilburg University, Center for Economic Research - 2002
We examine how ownership structure affects the performance of firms using firm level data from a large emerging market …
Persistent link: https://www.econbiz.de/10011090733
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Institutional Investor Preferences and Executive Compensation (replaced by CentER DP 2012-004)
McCahery, J.A.; Sautner, Z. - Tilburg University, Center for Economic Research - 2011
In this paper, we investigate the attitudes of institutional investors, such as hedge funds, insurance companies, mutual funds and pension funds, towards a key corporate governance mechanism, namely executive compensation. The purpose of this study is to document the preferences they have about...
Persistent link: https://www.econbiz.de/10011090742
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Shareholder Activism through the Proxy Process
Renneboog, Luc; Szilagyi, P.G. - Tilburg University, Center for Economic Research - 2009
price effects, and both the market and the voting shareholders respond as much to the target firm’s governance quality as to … using sample selection models. We conclude that shareholder proposals have nontrivial control benefits, countering arguments …
Persistent link: https://www.econbiz.de/10011090883