Our study is the first to provide systematic evidence of a hump-shaped CEO tenure-firm value relation. This pattern is supported by announcement returns to sudden CEO deaths, which mitigate endogeneity concerns. Cross-sectionally, firm value starts to decline after fewer years of CEO tenure in...

While there is widespread concern that target CEO retention by a private equity acquirer can result in a lower premium for target shareholders because of the potential conflict of interest of the CEO, it is also possible that target shareholders could benefit from CEO retention because it can...

Das vorliegende Dissertationsprojekt gibt Einblicke in Unternehmensrestrukturierungen und identifiziert Leistungstreiber von Equity Carve-Out (ECO) und Spin-off. Ziel der Dissertation ist es, zu verifizieren, ob ECO- und Spin-off-Transaktionen Unternehmenswert schaffen und zu evaluieren, ob die...

"Different economies at different times use different institutional arrangements to constrain the people entrusted with allocating the economy's capital and other resources. Comparative financial histories show these corporate governance regimes to be largely stable through time, but capable of...