Using the Japanese bank merger dataset for the 2000s, this paper investigates whether the reduction of the ownership ratio by the blockholder affects companies' operating performance and bank-firm relationships. In Japan, banks are prohibited from holding more than 5% of the business company's...

This study investigates whether the market's perception of auditor quality makes a difference to the market value of a firm using a sample of 1 915 takeover offers in the USA over the period 1990 to 2005. The study finds, as hypothesised, that the takeover process makes a smaller correction to...

Manuscript Type: EmpiricalResearch Question/Issue: How sensitive is CEO turnover to firm performance in the context of family firms?Research Findings/Insights: Using a detailed database of mostly non-listed Colombian firms, we find that family ownership (direct and indirect through pyramidal...

The effects of private equity buyouts on employment, productivity, and job reallocation vary tremendously with macroeconomic and credit conditions, across private equity groups, and by type of buyout. We reach this conclusion by examining the most extensive database of U.S. buyouts ever...

This paper examines the performance indicators of 168 prime standard entities since the introduction of German Accounting Standard (Deutscher Rechnungslegungs Standard (DRS)) No. 20, focusing on the core question of how the use of performance indicators has changed over time. For this purpose,...

The analysis of the factors of corporate governance is divided into four thematic sections. In the first part corporate governance is defined as part of the broader economic context. The second part deals with the principles of corporate governance. In the third part, the relation between the...

Intellectual capital in the knowledge era is a strategic advantage of board structure, which leads to the improvement of a company's work and the achievement of its goals. The aim of this study is to develop a structural model that connects the corporate governance, intellectual capital and...

Using a unique sample of exchangeable bond issues carried out in seven countries since the 2000s, this paper investigates the role of hybrid debt in the privatization of state‑owned enterprises (SOEs) via government‑controlled investment vehicles. This research shows that so far, sixteen...

In diesem Beitrag wird untersucht, wie Unternehmen ihre Organisation anpassen, wenn sie erstmalig an die Börse gehen (initial public offering, IPO). Im Zuge des Börsengangs wandeln sich Unternehmen in eine hierarchischere Organisation um und verstärken die Aufsicht durch das Management....

Derivative financial instruments play a major role in financial markets. However, there are rather contradictory views regarding this issue. Their impact on the financial markets, their stability and the economy have not been thoroughly examined. The aim of this paper is to analyse derivatives...