This paper is the first to investigate the corporate governance role of shareholderinitiated proxy proposals in European firms. While proposals in the US are nonbinding even if they pass the shareholder vote, they are legally binding in the UK and most of Continental Europe. Nonetheless,...

We investigate patterns of abnormal stock performance around insider trades and option exercises on the Dutch market. Listed firms in the Netherlands have a long tradition of employing many anti-shareholder mechanisms limiting shareholders rights. Our results imply that insider transactions are...

This book extends the theory of real options. Where previous contributions mainly consider the timing of investment, this book also determines the optimal capacity size. We develop and analyze several theoretical investment models of the firm. The first three studies consider firms that act in a...