The aim of this paper is to analyse the influence of financial system liquidity and corporate leverage on a firm's overinvestment. We posit that when external funds are easily available, as in expansionary monetary periods, debt loses its traditional role as a managerial control mechanism....

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...

The aim of this paper is to analyse the influence of financial system liquidity and corporate leverage on a firm's overinvestment. We posit that when external funds are easily available, as in expansionary monetary periods, debt loses its traditional role as a managerial control mechanism....

The aim of this paper is to analyze the ownership and control structure of Spanish commercial banks during the period 1996-2004. Using the methodology of control chains our data shows that 97% of Spanish commercial banks have an ultimate controlling owner. In concrete, families are the main...

This study offers insight into the role of board politicization on the Spanish cajas’ performance from a dual perspective.First, we analyze the effect of a new kind of political directors who occupy board seats as representatives of stakeholders outside the public administrations while...

The aim of this paper is to analyse the influence of financial system liquidity and corporate leverage on a firm's overinvestment. We posit that when external funds are easily available, as in expansionary monetary periods, debt loses its traditional role as a managerial control mechanism....