This paper analyzes the relationship between ownership structure (shareholders' stake and identity) and corporate risk taking for a sample of companies from 21 OECD countries for the period 2000-2008. Our main contribution is considering simultaneously the effect of growth opportunities and the...

We analyze whether financial constraints of Brazilian firms are alleviated by ownership structure. More specifically, we study whether the presence of nonfinancial firms as shareholders of Brazilian firm mitigates financial constraints. We find that the presence of nonfinancial firms as...

We examine the effect of shareholder coalitions on the corporate payout policy in Spain, a context characterized by the presence of dominant shareholders. Our results show that shareholder coalitions affect payout policy negatively (both for dividends and shares repurchases). This finding...

This paper analyzes the relation between corporate risk-taking and firm performance for a sample of 791 firms from 21 OECD countries over the period 2001–2013. Following a critical realist paradigm, we use prospect theory to posit that corporate risk-taking depends on the gap between target...

We examine the effect of shareholder coalitions on the corporate payout policy in Spain, a context characterized by the presence of dominant shareholders. Our results show that shareholder coalitions affect payout policy negatively (both for dividends and shares repurchases). This finding...