Self-dealing refers to all kinds of transactions and operations diverting value from a company to corporate controllers. In order to tackle self-dealing, academics and regulators have emphasised the legal tools. However, there is a divergence between those supporting the existence of a benchmark...

The research question we want to answer in this paper is: have the financial variables of the triple-entry framework of momentum accounting explanatory and predictive power? A detailed example is presented of Royal Philips Electronics N.V. Although in this study we cannot generalize the result...

The measurement of research and teaching performance is increasingly common within universities, driven probably by the rise of New Public Management (NPM). Although changing over time and varying from country to country, NPM involves the use of private sector methods in the public sector....

This paper analyses ownership and control structures of Dutch listed companies. Legislation effective since 1992 mandates all shareholders with holdings of 5 percent or more in Dutch companies to disclose their holdings. Our analysis shows that the average ownership stakes of the largest and the...

The Berle-Means problem - information and incentive asymmetries disrupting relations between knowledgeable managers and remote investors - has remained a durable issue engaging researchers since the 1930's. However, the Berle-Means paradigm - widely-dispersed, helpless investors facing strong,...

This paper demonstrates the existence of different institutional investor preferences for equity characteristics, and makes the link between these preferences and firm value. We show that transient institutional investors (those that trade frequently with a view to maximizing short term gains)...

Dutch company law is undergoing tumultuous times. Much is changing in the legislation. For example, a major revision of private limited company law is imminent. The courts are constantly presented with more and more difficult issues. Precisely in such times, there is a need for guiding ideas....

This report is centered around three research questions on newspaper coverage and executive compensation in The Netherlands. 1) How has the coverage developed over the years? 2) How selective are newspapers in their coverage? And 3) What are the influences of newspaper coverage on executive...

This Powerpoint presentation is focused on the firms' competitive life-cycle framework, also known as the CFROI valuation model. It has evolved as a commercial research program over the past 40 years and today is widely used by institutional money managers.Slides 1-13 highlight three conceptual...

This paper analyses the impact of share ownership, creditorship and networking by financial institutions on the performance of 94 Dutch non-financial firms in the period 1992-1996. We find a nonlinear relationship between firm performance and ownership by banks. Because of various defense...