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The aim of this paper is to analyse the impact of both firm-specific and external factors on the risk taking of European insurance companies. The extent of risk taking is quantified through variations in stock prices and these are explained by firm-specific and external factors that proxy the...
Persistent link: https://www.econbiz.de/10010668776
leverage and q.Our results indicate that Dutch managers avoid the disciplining role of debt, when they are most likely to …
Persistent link: https://www.econbiz.de/10011090661
mitigating agency problems between managers and shareholders.We find that both the CEO's industry-adjusted monetary compensation …
Persistent link: https://www.econbiz.de/10011092291
Mit der Weigerung, die Vergütung ihres Vorstandes einzeln offen zu legen, verstoßen vieler DAX-Unternehmen gegen eine … vieler Unternehmen, dieser Empfehlung nachzukommen, ist für sie der Deutsche Corporate Governance Kodex als Ganzes eine … "Comply or Expain" festhalten, das den Unternehmen die Wahl lässt, sich für den Codex zu entscheiden oder ihn ganz oder …
Persistent link: https://www.econbiz.de/10005056204
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Including real options in firms ’ value raises numerous difficulties. Limitations concerning the relevance of option pricing models outside financial markets are the most salient, but carrying out a valuation implies other assumptions, especially on firms’ governance. In particular,...
Persistent link: https://www.econbiz.de/10010905233
In continental Europe, banks are more and more replaced by non-bank institutional investors in the financing and … with firms similar to the traditional longterm bank-firm relationship. The present paper differentiates between … relationship banking and relationship investing within the theory of the firm and compares the financial and corporate control …
Persistent link: https://www.econbiz.de/10010958197
Persistent link: https://www.econbiz.de/10005705176
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. This paper provides the first survey of the literature on this issue. We start by discussing why a theory of the firm must …
Persistent link: https://www.econbiz.de/10008529324