Die Strukturen der Unternehmensfinanzierung und -kontrolle haben sich weltweit grundlegend verändert, gekennzeichnet durch neue Kapitalmarktinstrumente, verstärktes Auftreten von Nichtbank-Finanzintermediären sowie zunehmende Arbeitsteilung zwischen den Marktteilnehmern. Der vorliegende...

This paper incorporates the interdisciplinary New Institutional Economics in a comprehensive framework for analyzing risk management in the agri-food sector. First, it specifies the diverse types of agri-food risks (natural, technical, behavioral, economic, policy, etc.) and the modes of their...

Much research has been conducted on the effects of COVID-19 on company and supply chain resilience. However, few contributions have focused on small and medium-sized enterprises. These companies are claimed to be the drivers of economic growth but often lack access to resources and alternatives...

The primary aim of this study is to provide a comprehensive measure of corporate reputation and examine the impact of corporate governance on the reputation of listed financial firms in the countries of MENA region. Using a sample of 96 financial companies listed on the stock exchanges of four...

Previous studies have shown that product market competition has an important effect on corporate strategies and internal governance mechanisms. Using a sample of China’s listed firms from 2004 to 2009, we explore the relationship between product market competition and normal related party...

We present a framework and empirical evidence to explain why, on average, 11% of listed firms in China received modified audit opinions (MAOs) between 1992 and 2009. We argue that there are two reasons for this phenomenon: strong earnings management incentives lower firms’ financial reporting...

This paper examines executive compensation in the subsidiaries of business groups in China. Analyzing a sample of China business groups (the so-called “XiZu JiTuan” in Chinese) from 2003 to 2012, we find convincing evidence of the use of Relative Performance Evaluation (RPE) in the executive...

This paper analyses the effect of family ownership and the characteristics of the board of directors on the implementation level of enterprise risk management (ERM) in Spanish non-financial companies. The sample consists of 162 Spanish non-financial companies listed on Spanish stock exchanges...

Research on the nature and value of firms’ dynamic capabilities has produced contradictory propositions and findings. Scholars have argued that contingency theorizing has the potential to improve our understanding, as the context in which dynamic capabilities are deployed may affect their...

The question of whether firms gain competitiveness through local networks and clusters becomes more relevant than ever as globalization proceeds. This is particularly true for traditional and craft-based clusters, districts and business networks. A central question emerging for these types of...