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Between Scylla and Charybdis : CEO political ideology, dividends and downsizing during the pandemic

Bayat, Ali; Goergen, Marc; Koutroumpis, Panagiotis; … - 2022

We study whether CEO political ideology affected how S&P 500 firms reacted to the Covid-19 pandemic, an exogenous shock to demand and supply. We hypothesize that conservative CEOs are more likely to adopt shareholder-friendly than employee-friendly reactions to the pandemic. Hence, they should...

Persistent link: https://www.econbiz.de/10012815080

Monitoring the governance of state-owned enterprises : assessing the impact of corporate governance reforms in Brazil

Coelho, Daphne; Teodorovicz, Thomaz; Fritscher, André … - 2024

State-owned enterprises (SOEs) are often justified for correcting market failures, providing essential public services, and fulfilling social objectives. Yet, SOEs face unique governance challenges as agency conflicts usually increase with state ownership. This paper examines Brazil's efforts to...

Persistent link: https://www.econbiz.de/10015054007

Corporate governance practices and companies' R&D orientation : evidence from European countries

Honoré, Florence; Munari, Federico; Van Pottelsberghe … - 2011

This paper empirically investigates if corporate governance practices affect the resources firms devote to R&D. Two databases - one on governance ratings and the other on R&D intensity - are merged to obtain a multi-country, multi-sector sample of 279 European companies involved in R&D...

Persistent link: https://www.econbiz.de/10008907733

Monitoring managers : does it matter?

Cornelli, Francesca; Kominek, Zbigniew; Ljungqvist, … - 2010

We test under what circumstances boards discipline managers and whether such interventions improve performance. We … with detailed ‘hard’ information about the board’s performance expectations and ‘soft’ information about board and CEO … actions and the board’s beliefs about CEO competence in 473 mostly private-sector companies backed by private equity funds …

Persistent link: https://www.econbiz.de/10008702077

An attempt to disperse the Italian interlocking directorship network : analyzing the effects of the 2011 reform

Drago, Carlo; Ricciuti, Roberto; Santella, Paolo - 2015

The purpose of this paper is to analyze the effects on the Italian directorship network of the corporate governance reform that was introduced in Italy in 2011 to prevent interlocking directorships in the financial sector. Interlocking directorships are important communication channels among...

Persistent link: https://www.econbiz.de/10011348901

Disentangling the effect of private and public cash flows on firm value

Scherrer, Cristina Mabel; Fernandes, Marcelo - 2016

This paper presents a simple model for dual-class stock shares, in which common shareholders receive both public and private cash flows (i.e. dividends and any private benefit of holding voting rights) and preferred shareholders only receive public cash flows (i.e. dividends). The dual-class...

Persistent link: https://www.econbiz.de/10011523988

Endogenous ownership structure : factors affecting the post-privatisation equity in largest Hungarian firms

Bishop, Kate; Filatotchev, Igor; Mickiewicz, Tomasz - 2002

Using a data set for 162 largest Hungarian firms during the period of 1994-1999 this paper explores the determinants of equity shares held by both foreign investors and by Hungarian corporations. We find evidence of a post-privatisation evolution towards more homogeneous equity structures, where...

Persistent link: https://www.econbiz.de/10011597686

Foreign vs. domestic listing: an entrepreneurial decision

Ding, Yuan; Nowak, Eric; Zhang, Hua - Institut für Schweizerisches Bankwesen <Zürich> - 2007

In this paper, we use a unique hand-collected dataset to analyze stock listing as an entrepreneurial decision. By comparing mainland Chinese entrepreneurial firmslisted in Hong Kong with the same type of firms opting for a domestic listing on the Shenzhen second board market, we argue that the...

Persistent link: https://www.econbiz.de/10005857778

Director independence as strategic behavior

Wagner, Alexander F. - Institut für Schweizerisches Bankwesen <Zürich> - 2007

This paper analyzes the independence of boards of directors as an optimally chosen, non-contractible behavior. A board …

Persistent link: https://www.econbiz.de/10005858055

Investigating the corporate governance and sustainability relationship : a bibliometric analysis using keyword-ensemble community detection

Drago, Carlo; Fortuna, Fabio - 2023

Sustainability is a business strategy combining economic, social, and environmental issues. This paper examines the corporate governance and sustainability literature. So we consider a new bibliometric database focusing on the network of keywords appearing in the literature. The quantitative...

Persistent link: https://www.econbiz.de/10014304097

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