This paper investigates the characteristics of 73 UK firms in which managers have an ownership greater than fifty percent. We find that majority owner-managed companies make less use of alternative corporate control systems and are less likely to remove their CEO or other board memebers...

This paper proposes and tests a new hypothesis concerning the price impact of option introductions on the underlying asset. In contrast to earlier research that has failed to explain the flipping of positive excess returns to negative excess returns on the listing date over the past thirty years...

We investigate the unconditional and conditional gold betas of four country-based gold industry portfolios. First, we document the similarity of unconditional gold betas across countries. Second, we find that the factors affecting conditional gold betas are different in the Australian and South...

We investigate the agency costs of corporate ownership structure and the role of audit committees in mitigating their effect. Using China as a laboratory, where audit committees are voluntary, we study the demand for and value relevance of audit committees conditional on the various agency costs...

This study investigates the aggregate stock market impact of local currency and foreign currency sovereign rating changes. Consistent with evidence pertaining to company credit rating changes, we report that only rating downgrades have a wealth impact on market returns. Decreases in local...

The aim of this paper is to provide an exploratory review of the extent to which some of the world’s leading companies are publicly addressing water stewardship as part of their corporate sustainability strategies. The paper begins with an outline of the growing importance of corporate...

This paper offers a review of the corporate social responsibility (CSR) agendas currently being publicly addressed by the UK's top ten internet service providers (ISPs). The paper begins with a brief outline of the problems associated with growing internet usage and this is followed by a...

This paper looks to provide an exploratory review of the extent to which the world’s fastest growing retailers are publicly reporting on their environmental and social commitments and programmes. The paper begins with an outline discussion of corporate environmental and social programmes and...

The purpose of this paper is to provide an exploratory review of the sustainability agendas being addressed and publicly reported within the UK pub industry. The paper begins with a short discussion of the characteristics of sustainability and this is followed by a brief thumbnail sketch of pubs...

The aim of this paper is to offer an exploratory review of the extent to which the world’s leading e-retailers are communicating the environmental impact of their business and their environmental sustainability agendas to their customers. The paper draws its empirical material from the most...