This book explores the revolutionary development of the theory of the firm over the past 35 years. Despite rapid progress in the field, new developments in the microeconomic and industrial organization literature have been relatively scant. This book attempts to redress the balance by providing...

The structure of Spanish capital markets doesnot facilitate an efficient market forcorporate control through takeover process,which assumes that inefficient management isreplaced by competing teams. The ownershipstructure of listed companies is highlyconcentrated, with extremely low floating...

This paper analyzes the characteristics of firms that declare board directors as independents, although the directors are not strictly independent, and examines the consequences in terms of performance and corporate governance outcomes. Based on publicly available information, eight criteria of...