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Institutional Investor Preferences and Executive Compensation (replaced by CentER DP 2012-004)
McCahery, J.A.; Sautner, Z. - Tilburg University, Center for Economic Research - 2011
In this paper, we investigate the attitudes of institutional investors, such as hedge funds, insurance companies, mutual funds and pension funds, towards a key corporate governance mechanism, namely executive compensation. The purpose of this study is to document the preferences they have about...
Persistent link: https://www.econbiz.de/10011090742
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How does Corporate Governance Affect Bank Capitalization Strategies?
Huizinga, Harry P.; Anginer, D.; Demirgüc-Kunt, A.; Ma, K. - Tilburg University, Center for Economic Research - 2013
Abstract: This paper examines how corporate governance and executive compensation affect bank capitalization strategies for an international sample of banks over the 2003-2011 period. ‘Good’ corporate governance, which favors shareholder interests, is found to give rise to lower bank...
Persistent link: https://www.econbiz.de/10011091523
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Institutional Investor Preferences and Executive Compensation (Revision of 2011-103)
McCahery, J.A.; Sautner, Z. - Tilburg University, Center for Economic Research - 2012
Abstract: In this paper, we investigate the attitudes of institutional investors, such as hedge funds, insurance companies, mutual funds and pension funds, towards a key corporate governance mechanism, namely executive compensation. We document the preferences they have about both the level and...
Persistent link: https://www.econbiz.de/10011092357
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Business Groups and Profit Redistribution : A Boon or Bane for Firms
George, R.; Kabir, M.R.; Douma, S.W. - Tilburg University, Center for Economic Research - 2004
This study investigates how profit redistribution affects the performance of firms affiliated to business groups ….It shows that inefficient profit redistribution causes group-affiliated firms to perform poorly relative to independent firms … firms.The study also shows that profit redistribution is more pronounced for groups of larger size and greater corporate …
Persistent link: https://www.econbiz.de/10011090611
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The contribution of international R&D to firm profitability
Peters, Bettina; Schmiele, Anja - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2011
The internationalisation of corporate R&D opens up the chances to participate in international knowledge sharing. This increasingly motivates firms to accelerate the pace and extent of their international R&D activities in order to enhance innovativeness and consequently competitiveness and...
Persistent link: https://www.econbiz.de/10008869230
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Women on the board and executive duration: Evidence for European listed firms
Buchwald, Achim; Hottenrott, Hanna - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2015
The participation of women in top-level corporate boards (or rather the lack of it) is subject to intense public debate. Several countries are considering legally binding quotas to increase the share of women on boards. Indeed, research on board diversity suggests positive effects of gender...
Persistent link: https://www.econbiz.de/10011203170
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Institutionelle Investoren und Corporate Governance: Eine empirische Analyse
Steiger, Max - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 1998
Portefeuilles einer geringen Anzahl institutioneller Investoren führte in den USA und in Großbritannien zu einem verstärkten … niederschlagen. Diese bislang für Deutschland noch nicht näher betrachtete Abwägung zwischen Liquiditat und Corporate Governance …
Persistent link: https://www.econbiz.de/10008614872
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Managerial ownership, entrenchment and innovation
Beyer, Mila; Czarnitzki, Dirk; Kraft, Kornelius - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2011
Principle-agent theory suggests managers might under-invest into R&D for reasons of risk tied to project failure, such as reduced remuneration and job loss. However, managers might over-invest into innovation for reasons of growth implying higher remuneration, power and prestige. Using a sample...
Persistent link: https://www.econbiz.de/10009003577
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Do UK Institutional Shareholders Monitor their Investee Firms?
Renneboog, Luc; Goergen, M.; Zhang, C. - Tilburg University, Center for Economic Research - 2008
As institutional investors are the largest shareholders in most listed UK firms, one expects them to monitor the firms they invest in. However, there is mounting empirical evidence which suggests that they do not perform any monitoring. This paper provides a new test on whether UK institutional...
Persistent link: https://www.econbiz.de/10011090281
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Control Structures and Payout Policy
Renneboog, Luc; Trojanowski, G. - Tilburg University, Center for Economic Research - 2005
This paper examines the payout policies of UK firms listed on the London Stock Exchange during the 1990s.It complements the existing literature by analyzing the trends in both dividends and total payouts (including share repurchases).In a dynamic panel data regression setting, we relate target...
Persistent link: https://www.econbiz.de/10011090300