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We analyse the relationship between managerial ownership and company performance, testing the incentive and entrenchment hypothesis. Differently from previous literature, we focus on small and medium-...
An important decision that multinational firms (MNFs) face when expanding abroad concerns the specific form of their investment. The usual choice is between exports, licensing or franchising, and fo...
The paper investigates whether multinational corporations (MNCs) operating in Portugal and Greece perform differently than domestic firms. Departures from normality of firms’ profitability motivated...
This paper examines Board pay for a sample of 571 U.K. SMEs from 1991 to 1995. Approximately half of the sample were closely-held (i.e., owner-managed) firms which allowed empirical testing of models ...
Acurious ownership structure is found in Northern Europe—foundations that own and operate business companies. The foundations are non-profit entities, they have no members and no owners, and they cann...
This paper is concerned with the set of mutual relationships between firm valuation and investment, and with the possible endogeneity of ownership structure. In order to deal with them properly, we a...
The ownership of German corporations is quite different today from that of Anglo- American firms. How did this come about? To what extent is it attributable to regulation? A specially constructed dat...
This paper analyzes the effects of the form of ownership on the substitutability between internal and external sources of finance in Italy. In particular, we test whether financial constraints are mo...
While downsizing has been widely studied, its connection to firm ownership status and the reasons behind it are missing from extant research. We explore the relationship between downsizing and family ...
In this paper the effects of selling assets are examined in a property rights model a` la Grossmann, Hart and Moore. The possibility of selling an asset gives its owner a bargaining tool which can s...

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