Defines corporate governance, describes the special characteristics of Belgian companies and presents a study of the disciplining of bad management in 165 companies listed on the Brussels stock exchange 1989‐1996. Finds that poor share price performance is generally linked to a higher turnover...

Differentiates market (e.g. USA) from group‐based (e.g. Germany) corporate governance systems, traces their evolution and asks whether they are converging. Puts forward a theoretical convergence model based on the belief that agency problems can best be solved by specific corporate control...

Places Korean chaebols (i.e. family‐owned conglomerates) in the context of organizational theory, characterizes them as leveraged controlling minority structure firms and discusses the behavioural consequences of this. Examines their long term performance in terms of diversification/changinb...

On March 10th, 2000, NASDAQ was at 5,048. Today March 2003 it’s a little over 1,200. Three years ago the dot‐com bubble had not entirely burst. Accounting firms bragged in advertisements about their aggressive consulting services, as their lobbyists fought ferociously to preserve their...

The aftermath of the Enron collapse included Congressional legislation known as the Sarbanes‐Oxley Act (SOX), which was rushed into law on July 29, 2002, by President Bush. This legislation, aimed at restoring confidence in the financial markets, addresses many aspects of corporate governance....

Purpose – Prior studies examining the relation between the shareholdings by institutional investors and firm value have produced mixed results. These studies have assumed that a linear relation exists between corporate value and institutional shareholdings. The purpose of this study is to...

Purpose – To attempt to relate the mean returns and price volatility of a selected sample of 30 companies listed in Athens stock exchange (ATHEX), to the introduction of the legal framework concerning corporate governance. Design/methodology/approach – The essence of this approach is...

Purpose – The purpose of this paper is to investigate the relative preference for dividends vs share repurchases based on managers’ personal wealth and control benefits. Design/methodology/approach – The paper presents an analytical model of managerial preferences and information...

Purpose – This paper seeks to examine whether or not divident policy is influenced by the firm's corporate control structure, investigating the relationship between the dynamics of earnings payout and the voting power enjoyed by different types of shareholders. This allows one to test a set of...

Purpose – While advantageous, the role of family control is under‐explored in finance. Family ownership can help guarantee stability of business and long‐term planning. The purpose of this study is to examine whether block‐holder ownership differentially affects the long‐term...