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Why are so few females promoted into CEO and vice-president positions? Danish empirical evidence 1997-2007

Smith, Nina; Smith, Valdemar; Verner, Mette - 2011

In most OECD countries, only very few women succeed in reaching top executive positions. In this paper, the probability of promotion into VP and CEO positions is estimated based on employer-employee data on all Danish companies observed during the period 1997-2007. After controlling for a large...

Persistent link: https://www.econbiz.de/10010280671

Private Equity Waves

Smit, Han; van den Berg, Ward A. - 2006

This study presents a dynamic model for the private equity market in which information revelation and uncertainty rationally explain the cyclical pattern of investment flows into private equity. The net benefit of private equity over public equity is i) uncertain and ii) agents have private...

Persistent link: https://www.econbiz.de/10010325445

New Paradigms in Banking, Financial Markets and Regulation?

Balling, Morten; Lierman, Frank; den Spiegel, Freddy Van; … - 2012

On May 11-12, 2011, SUERF, the Belgian Financial Forum, the Brussels Finance Institute and the Centre for European Policy Studies (CEPS) jointly organised the 29th SUERF Colloquium New paradigms in money and finance? The papers included in this SUERF Study are based on contributions to the...

Persistent link: https://www.econbiz.de/10011689953

The corporate equity puzzle

Brutscher, Philipp-Bastian; Hols, Christopher - 2018

Why don't non-financial companies in Europe issue more equity? Using experimental data on firms from Europe, this paper analyses how firms trade-off between debt and external equity financing. It finds that firms are willing to pay a substantial premium on debt when presented with an equity...

Persistent link: https://www.econbiz.de/10011872447

Are private equity investors good or evil?

Badunenko, Oleg; Barasinska, Nataliya; Schäfer, Dorothea - 2009

The paper investigates the motives of activity (entry and exit) of Private Equity (PE) investors in European companies. Investment of a PE firm is not viewed unambiguously. First, it is claimed that PE investment is made for the sake of seeking short-term gains by taking control and utilizing...

Persistent link: https://www.econbiz.de/10010291775

Executive board composition and bank risk taking

Berger, Allen N.; Kick, Thomas; Schaeck, Klaus - 2012

Little is known about how socioeconomic characteristics of executive teams affect corporate governance in banking. Exploiting a unique dataset, we show how age, gender, and education composition of executive teams affect risk taking of financial institutions. First, we establish that age,...

Persistent link: https://www.econbiz.de/10010308267

Executive compensation and the susceptibility of firms to hostile takeovers. An empirical investigation of the U.S. oil industry

Nowak, Eric; Haid, Michael H. - 1999

We investigate the suggested substitutive relation between executive compensation and the disciplinary threat of takeover imposed by the market for corporate control. We complement other empirical studies on managerial compensation and corporate control mechanisms in three distinct ways. First,...

Persistent link: https://www.econbiz.de/10010316286

Do Entrenched Managers Pay Their Workers More?

Cronqvist, Henrik; Heyman, Fredrik; Nilsson, Mattias; … - 2005

find that entrenched managers pay their workers more. For example, our estimates show that CEOs with more control rights … as evidence of agency problems between shareholders and managers affecting workers' pay. The findings do not appear to be … with an agency model in which entrenched managers pay high wages because they come with private benefits, such as lower …

Persistent link: https://www.econbiz.de/10010320116

The Effects of Internationalization on CEO Compensation

Oxelheim, Lars; Randøy, Trond - 2004

This study examines the relation between the internationalization of firms and CEO compensation. Starting from a sample of Norwegian and Swedish listed firms we analyze the effects of internationalization as manifest in the capital market (international cross-listing), the market for corporate...

Persistent link: https://www.econbiz.de/10010320148

Firm performance and managerial turnover: the case of Ukraine

Muravyev, Alexander; Talavera, Oleksandr; Bilyk, Olga; … - 2009

ownership and supervisory board size, we do find significant entrenchments effects associated with ownership by managers …

Persistent link: https://www.econbiz.de/10010271280