Bár nem igazán közismert, de a francia gazdaság jelentős változásokon ment keresztül a nyolcvanas évek közepétől. Egy rövid, az állami tulajdonnal fémjelzett időszakot követően a privatizációk során bonyolult, nehezen átlátható nagyvállalati kereszttulajdonlási rendszer...

Egyes szakértők szerint az egységes európai pénz kialakítása a lebegő árfolyamok hetvenes évekbeli bevezetése óta a legjelentősebb változásokat fogja okozni a nemzetközi pénzügyi rendszerben. Olyan vélemények is vannak, amelyek az eseményt egyenesen a font két...

Restructuring practices belong to today's organizational life. Even if the phenomenon is not new it significantly evolved over time, both in terms of motives and in terms of expressions, from major events to permanent practices, from crisis to competitiveness restructurings, from reactive to...

In the spirit of Merton (1987) we find that targeted communication by firms raises investor attention. Continental European firms using English-language commercial press wires to disseminate corporate press releases exhibit less drift and more trading volume after their earnings announcements...

I analyze loan loss reserves during the Global Financial Crises in the late 2000s. I develop a regression model that separates the loan loss reserve account into discretionary and nondiscretionary components. The nondiscretionary (expected) component is based on current, past due, restructured,...

In 2009, for the first time since the end of World War II, the world economy shrank. This resulted from the economic downturn in highly developed countries and surprised most economists. According to the IMF forecast published in spring 2008, GDP growth in these countries was expected to...

The present paper is carried out with the objective of studying what shift-in-structure is experienced especially in the operating performance (OP) after merger and acquisitions (M&AS) by studying 39 selected acquiring manufacturing firms in India. The firms, which had gone in to the M&AS...

In this paper, using a unique dataset of joint-stock companies, we empirically examine the determinants of the choice and size of the collective executive board, a core element of the multi-tier board system of Russian firms. Our empirical evidence strongly suggests that the need of company...