For the first time, the determinants of a country’s success at the Paralympic Games are studied, using data from four editions, starting in 1996. By means of a tobit panel, the authors find that gross domestic product (GDP) per capita, population, having many participants per million...

Nonprofit organizations (NPOs) are increasingly required to become (more) effective. This review summarizes and integrates the results of studies focusing on NPOs’ governance effectiveness. It proposes an extension of stakeholder theory to NPOs concerning governance involving diverse...

This paper empirically investigates the impact of fixed asset subsidies to firms on market shares. By means of a tobit regression on a sample of over 13 000 Belgian firms we find a significant and positive joint influence of all fixed asset subsidies on market shares, acknowledging that this is...

In a recent issue of this journal, Basu (2013, Metroeconomica, 64 (2), pp. 293–318) presented some conditions under which replacement cost-based profit rates and historical cost-based profit rates evolve similarly, making, under these conditions, the choice between them irrelevant when...

Ondernemingsgroepen komen overal ter wereld voor maar de opvatting, het doel en de werking ervan kunnen heel uiteenlopend zijn. Met deze paper willen we een overzicht geven van de bestaande literatuur over ondernemingsgroepen, met specifieke aandacht voor Europese en voor Belgische...

In Belgian corporate groups, complex pyramidal structures and interlocking ownership lead to separation of ownership and control. This may generate incentives for the controlling shareholder to divert resources within the group through intragroup equity sales. This in turn could lead to...

Several studies find that business groups create value for affiliated companies in developing countries, which are characterized by weak institutions and poorly functioning markets. In these countries, business groups can act as an intermediary between imperfect markets and individual...