This study examines managerial disciplining in poorly performing firms using large panels for Belgian, French, German and UK firms. We consider the monitoring role of large blockholders, the market for share blocks, creditors, and non-executive directors. Board restructuring is correlated to...

We examine evidence for a systematic underperformance of Germany's state-owned banks in the current financial crisis and study if the bank losses can be traced to the quality of bank governance. For this purpose, we examine the biographical background of 593 supervisory board members in the 29...

Empirical studies have shown that state-owned enterprises (SOEs), and especially the compensation of topmanagers, are very relevant to the performance and sustainable provision of public services. Whereas there are numerous studies on the compensation of top-management of private sector...

This paper presents a synopsis of recent NBER studies of the history of corporate governance in Canada,China, France, Germany, Japan, India, Italy, the Netherlands, Sweden, the United Kingdom, and the United States. Together, the studies underscore the importance of path dependence, often as far...

Multinationals' corporate codes react to both new perils in the working environment and the disappearance of traditional actors due to the globalisation process: the worldwide interlinking of markets, capital, and production facilitate a slackening of working conditions in developing countries...

We hypothesize that companies with board level employee representation (BLER) are less likely than other firms to experience crisis-induced employment reductions, since the employers and employees in BLER firms are better able to negotiate alternative labor-cost savings to preserve employment....