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Financial network systemic risk contributions

Hautsch, Nikolaus; Schaumburg, Julia; Schienle, Melanie - 2013

We propose the realized systemic risk beta as a measure for financial companies' contribution to systemic risk given network interdependence between firms' tail risk exposures. Conditional on statistically pre-identified network spillover effects and market as well as balance sheet information,...

Persistent link: https://www.econbiz.de/10010201170

Leadership Structure and Corporate Governance in Switzerland

Schmid, Markus M.; Zimmermann, Heinz - 2007

The question of whether the CEO should also serve as chairman of the board is one of the most hotly debated issues in the recent corporate governance discussion. While agencytheoretic arguments advocate a separation of decision and control functions, the empirical evidence focusing on U.S....

Persistent link: https://www.econbiz.de/10011390617

Path Dependence or Convergence? The Evolution of Corporate Ownership Around the World

Yeh, Andy - 2016

convergence theories complement each other in the broader context of corporate governance.Our empirical analysis of international … data suggests at least partial convergence toward the Berle-Means modern corporation with high stock ownership dispersion …, this result does not preclude the more dynamic form of functional convergence toward greater stock ownership dispersion …

Persistent link: https://www.econbiz.de/10013004147

Internal Capital Markets and the Transmission of Exchange-Rate Shocks : Micro Evidence from Chinese Customs Data

Shi, Kang - 2019

Liquidity-constrained large shareholders often reallocate capital within business groups to finance their own projects, imposing credit constraints on other group members. Using microdata from Chinese customs, we study the impact of this negative externality on the transmission of exchange-rate...

Persistent link: https://www.econbiz.de/10012903508

The Effects of Institutional Ownership on Corporate Venture Capital Investment Decisions

Johan, Sofia; Li, Yuan - 2022

The paper explores how institutional ownership and ownership heterogeneity affect the firm's CVC launch, duration, portfolio decisions, and outcomes. Our finding shows an inverse U-shape relationship between institutional ownership and CVC investments. The increase in institutional ownership can...

Persistent link: https://www.econbiz.de/10014236624

Leadership structure and corporate governance in Switzerland

Schmid, Markus M. (contributor); … - 2007

Persistent link: https://www.econbiz.de/10003666368

Corporate Governance, Unternehmensbewertung und Wettbewerb : eine Untersuchung für die Schweiz ; Diskussionsbeitrag für das Ottobeuren-Seminar, 13.-15. September 2004

Beiner, Stefan; Drobetz, Wolfgang; Schmid, Markus M.; … - Wirtschaftswissenschaftliches Seminar <34, 2004, Ottobeuren> - 2004

Persistent link: https://www.econbiz.de/10011570425

Corporate Governance, Performance and Liquidity Risk : Insights From WAEMU Banks

Ouattara, Alassane - 2019

Over the past two decades, several corporates collapses and scandals led to track down any deficiencies of the traditional corporate governance mechanisms. These collapses and scandals include Enron (2001) and WorldCom (2002) in USA, Vivendi (2001) and Vinci (2006) in France, Parmalat (2003) in...

Persistent link: https://www.econbiz.de/10012862169

CEO Dismissal : The Role of Investment Analysts

Wiersema, Margarethe - 2020

While poor firm performance has been shown to be an important predictor of CEO dismissal, financial performance alone cannot explain the increased incidence of CEO dismissal. The complex and ambiguous relationship between poor firm performance and CEO dismissal is due in part to the uncertainty...

Persistent link: https://www.econbiz.de/10012857436

Trusting the Stock Market : Further Evidence from IPOs around the World

Kanagaretnam, Kiridaran (Giri); Lee, Jimmy; Lim, Chee Yeow - 2022

Using an international sample of IPO firms from 36 countries and a country-level index for societal trust, we find strong evidence that societal trust is negatively associated with the degree of IPO underpricing. In cross-sectional analyses, we find that the effect of societal trust in reducing...

Persistent link: https://www.econbiz.de/10013406151