This paper decomposes the explained part of the CDS spread changes of 32 listed euro area banks according to various risk drivers. The choice of the credit risk drivers is inspired by the Merton (1974) model. Individual CDS liquidity and other market and business variables are identified to...

This paper revisits some recently found evidence in the literature on the cross-section of stock returns for a carefully constructed dataset of euro area stocks. First, we confirm recent results for US data and find evidence of a negative cross-sectional relation between extreme positive returns...

Purpose: The purpose of this paper is to investigate several antecedents of succession planning in family firms: founder status, the family chief executive officer (CEO)’s inability to let go and the family CEO’s gender. Design/methodology/approach: This study conducts moderated mediation...

Purpose: This paper aims to examine whether a private firm’s demand for a Big4 auditor is influenced by the auditor choice of its main supplier, customer and competitor. The authors rely on institutional theory to explain this stakeholders’ influence. The authors also examine whether the...

Purpose – The purpose of this paper is to examine empirically the impact of web‐based intellectual capital (IC) reporting on firm's value and its cost of finance. Design/methodology/approach – A content‐analysis of corporate web sites is conducted from four continental European countries...

Former audit demand studies generally consider wholly family-owned private firms as a homogeneous group of firms that incur minimal agency costs. Family firm literature, however, argues that these firms might incur significant agency costs as well and we therefore examine audit demand in this...

Intra-familial principal–principal conflict are a relevant agency problem in privately held family firms. These conflicts of interest commonly occur between active and passive family shareholders, and require remedies different from those that deal with principal-agent conflicts. This article...

The goal of this article is to examine the influence of the board of directors in constraining earnings management in private family firms. We build further on the premise that corporate governance is conditional in nature. Specifically, we propose that the effect of the proportion of outside...

Purpose The importance of formal human resource (HR) practices is widely recognized in management literature, but under-researched in the small business and family firm domain. Previous research indicates that family firms rely more on informal HR practices, based on social networks. However,...