Family firm researchers have found a host of characteristics that are unique to family firms. These familial attributes are often taken as plausible explanations for governance and operational differences between family firms and their non-family competitors. We use these familial...

The objective of the paper is to determine if family firms are able to provide a return premium compared to their non-family counterparts. The assumption is that some of the benefits and costs related to family ownership can be absorbed into the business model. This may mean that family...

We examine the impact of board diversity on both the corporate value and equity risk of British companies since the financial crisis. We find that the inclusion of overseas directors on boards improves market value and reduces equity risk. When the number of female directors included on the...

Using a sample of US bank mergers from 1995 to 2012, we observe that the pre-post merger changes in CEO bonus are significantly negatively related to the strength of corporate governance within the bidding bank. This suggests that bonus compensation is not consistent with the “optimal...

Purpose – This paper aims to examine the investment performance of pension funds in the UK using the three standard performance measurement models, the capital asset pricing model (CAPM), Fama-French model and the Carhart model. Design/methodology/approach -The authors use the CAPS-Mellon...

This paper looks at the interrelationships between the real and financial decisions made by the UK industrial and commercial company sector. It uses a capital gains augmented version of Purvis' integrated expenditure and portfolio allocation model, a development of the Brainard-Tobin "pitfalls"...

We investigate the operating performance changes of initial public offerings (IPOs) and the relation between operating performance and both short-run underpricing and long-run market returns of IPOs. We find that listing causes a significant deterioration in profitability, sales-growth rates,...

We study the short-run and long-run performance of 340 and 409 IPOs, respectively, listed on China's two exchanges from 1996 to 1997. We find that the average underpricing is 127.3%, and that the average market-adjusted cumulative return and buy-and-hold return over the three years after listing...

This paper looks at the interrelationships between the real and financial decisions made by the UK industrial and commercial company sector. It uses a capital gains augmented version of Purvis' integrated expenditure and portfolio allocation model, a development of the Brainard-Tobin "pitfalls"...