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Econometric Modelling in Blockholder Systems of Corporate Governance
Manjon, M.C. - Tilburg University, Center for Economic Research - 2004
Persistent link: https://www.econbiz.de/10011090535
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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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Patterns in Payout Policy and Payout Channel Choice of UK Firms in the 1990s
Renneboog, Luc; Trojanowski, G. - Tilburg University, Center for Economic Research - 2005
The paper examines the payout policy of UK firms listed on the London Stock Exchange during the 1990s.We complement the existing payout literature studies by analyzing jointly the trends in dividends and share repurchases.Unlike in the US, we find that, in the UK, firms do not demonstrate a...
Persistent link: https://www.econbiz.de/10011092560
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Share Price Reactions to CEO Resignations and Large Shareholder Monitoring in Listed French Companies
Renneboog, Luc; Dherment-Ferere, I. - Tilburg University, Center for Economic Research - 2000
This study has analysed the share price reactions to changes in top management.A distinction was made among different types of CEO turnover: forced resignation, voluntary departures and age-related retirements.The announcement of a forced CEO resignation is hailed favourably by the market with a...
Persistent link: https://www.econbiz.de/10011092880
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Can the Stock Market anticipate Future Operating Performance? Evidence from Equity Rights Issues
Kabir, M.R.; Roosenboom, P.G.J. - Tilburg University, Center for Economic Research - 2000
This paper examines whether the stock market valuation impact of rights issues is consistent with subsequent operating performance of issuing firms. Analysing a sample of rights issues in the Netherlands, we find that a significant stock price decline takes place with the announcement of rights...
Persistent link: https://www.econbiz.de/10011091674
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Does Good Corporate Governance Lead to Stronger Productivity Growth?
Renneboog, Luc; Koeke, J. - Tilburg University, Center for Economic Research - 2002
This study investigates the impact of corporate governance and product market competition on total factor productivity … growth in Germany and the UK.For Germany, the prototype of a bank-based governance system, productivity grows faster in firms … beneficial impact. Furthermore, the importance of the German creditors (mostly banks) for productivity growth is particularly …
Persistent link: https://www.econbiz.de/10011091051
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Network Embeddedness and the Exploration of Novel Technologies : Technological Distance, Betweenness Centrality and Density
Duysters, Geert; Nooteboom, B.; Gilsing, V.A.; … - Tilburg University, Center for Economic Research - 2006
In this paper we analyze the innovative performance of alliance networks as a function of the technological distance between partners, a firm's network position (centrality) and total network density.We study how these three elements of an alliance network, apart and in combination, affect the...
Persistent link: https://www.econbiz.de/10011090286
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Service Value Chains and Effects of Scale
Nooteboom, B. - Tilburg University, Center for Economic Research - 2007
This paper generalizes Porter’s notion of the value chain for the analysis of service industries. The generalization entails that the flow and the physical transformation and assembly of goods that are characteristic of manufacturing are generalized into flows and transformation of data and...
Persistent link: https://www.econbiz.de/10011090762
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Diversification in Private Equity Funds : On Knowledge-sharing, Risk-aversion and Limited-attention
Humphery-Jenner, M. - Tilburg University, Center for Economic Research - 2011
This paper examines diversification as a source of value creation and destruction in private equity. The literature has focused on the `diversification discount' in corporations. It has not analyzed diversification in PE-funds, where diversification might increase value by ameliorating...
Persistent link: https://www.econbiz.de/10011091238
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GMM Estimation of Fixed Effects Dynamic Panel Data Models with Spatial Lag and Spatial Errors (Replaced by CentER DP 2015-003)
Cizek, Pavel; Jacobs, J.P.A.M.; Ligthart, J.E.; Vrijburg, H. - Tilburg University, Center for Economic Research - 2011
We extend the three-step generalized methods of moments (GMM) approach of Kapoor et al. (2007), which corrects for spatially correlated errors in static panel data models, by introducing a spatial lag and a one-period lag of the dependent variable as additional explanatory variables. Combining...
Persistent link: https://www.econbiz.de/10011124438