Purpose: The purpose of this paper is to investigate the relationship between corporate debt-like compensation and the value of excess cash holdings. Design/methodology/approach: The sample comprises 876 US firms covered by ExecuComp over the period 2006-2013. The authors apply the valuation...

This study investigates the effects of the separation of control and ownership on the value of cash holdings in publicly listed French firms. It also sheds light on the role of board independence in such a relation. Theory suggests that investors are more likely to discount the value of excess...

The current study investigates the determinants of going private (GP) in France. It contrasts a sample of 161 firms that went private between 1997 and 2009 with a propensity-score-matched sample of firms that remained public during the same period. The results indicate that, unlike for firms...

Purpose – This paper aims to investigate the relationship between board size and performance in a sample of 174 bank and savings‐and‐loan holding companies, over the period 1995‐2002. Design/methodology/approach – In order to examine the relationship between board of directors' size...

Purpose – This paper aims to investigate the relationship between board size and performance in a sample of 174 bank and savings-and-loan holding companies, over the period 1995-2002. Design/methodology/approach – In order to examine the relationship between board of directors' size and...

I test the market discipline of bank risk hypothesis by examining whether banks choose risk management policies that account for the risk preferences of subordinated debt holders. Using around 500,000 quarterly observations on the population of U.S. insured commercial banks over the 1995–2009...

This article examines the interrelations among five ownership and board characteristics in a sample of 260 banks and Savings-and-Loan Holding Companies (SLHCs). These governance characteristics, designed to reduce agency problems between shareholders and managers are insider ownership,...