1st Edition

Corporate Governance and Corporate Finance A European Perspective

    784 Pages 24 B/W Illustrations
    by Routledge

    784 Pages 24 B/W Illustrations
    by Routledge

    Ruud. A. I. van Frederikslust, Associate Professor of Finance, Rotterdam School of Management, Erasmus University Rotterdam

    James S. Ang, Bank of America Eminent Scholar, Professor of Finance, College of Business, The Florida State University

    Sudi Sudarsanam, Professor of Finance & Corporate Control, School of Management, Cranfield University

     

    Ruud. A. I. van Frederikslust, Associate Professor of Finance, Rotterdam School of Management, Erasmus University Rotterdam. He joined Rotterdam School of Management as Associate Professor of Finance 1984 from the Inter-University Graduate School of Management, The Netherlands, where he was Associate Professor of Finance. He is author of the work Predictability of Corporate Failure (Kluwer Academic Publishers). And editor in chief of the volume of collection: Mergers & Acquisitions (in Dutch) and of the volume Corporate Restructuring and Recovery (in Dutch) (Reed Elsevier LexisNexis). He has participated in the organizations of leading conferences in Europe and the USA and presented there also numerous research papers at the conferences. He has published in leading journals like the Multinational Finance Journal and the Journal of Financial Transformation. He was a member of the Board of the European Finance Association.

    James S. Ang, Bank of America Eminent Scholar, Professor of Finance, College of Business, Florida State University. He joined the College of Business, of Florida State University as a Professor of Finance in 1998 from Barnett Bank Chair Professor of Finance, Florida State University. His main areas of research interest are amongst others, in corporate restructuring, corporate governance and control. He has published extensively in leading academic journals like Journal of Corporate Finance, Journal of Financial Economics, Journal of Finance, The Bell Journal of Economics, Journal of Financial and Quantitative Analysis, Journal of Money, Credit and Banking, and The Review of Economics and Statistics. And he is a member (current and past) of the Editorial Board of several of these Journals. He is amongst others a member of the Board of Trustees of the Financial Management Association and formerly he was a member of the Board of Directors of the European Financial Management Association.

    Sudi Sudarsanam, Professor of Finance & Corporate Control, School of Management, Cranfield University. He joined Cranfield as Professor of Finance and Corporate Control on the 1 January 2000 from City University Business School where he was Professor of Finance and Accounting. His original commercial background was in banking and international trade finance.

    Sudi’s main areas of research interest are in corporate restructuring, mergers and acquisitions and corporate strategy, adopting a multidisciplinary approach. He is one of the leading authorities on mergers and acquisitions in Europe and author of The Essence of Mergers and Acquisitions (Prentice Hall), translated into five European and Asian languages. His recent book, Creating value from mergers and acquisitions: the challenges, an international and integrated perspective (FT Prentice Hall, 2003, pp613) has been widely acclaimed by both academics and practitioners and is considered a standard work on M & A. He has been a visiting professor at US and European business schools. He has been an expert commentator on mergers and acquisitions on radio and television and in the print media.

    Sudi has also published articles in top US and European journals on corporate restructuring, corporate governance and valuation of intellectual assets.

    Part I: Differing Perspectives on Corporate Governance Frameworks

    1. Michael C. Jensen (1993), The modern industrial revolution, exit and the failure of internal control systems.
    2. Andrei Shleifer, Robert W. Vishny (1997), A survey of corporate governance.
    3. Rafael La Porta, Florencio Lopez-de-Silanes, Andrei Shleifer and Robert Vishny (2000), Investor protection and corporate governance.
    4. James S. Ang, Rebel Cole, and James Wuh Lin (2000), Agency costs and ownership structure.
    5. Part II Equity Ownership and control, The role of Capital Structure and Institutional Investors

    6. Hiroshi Osano (1998), Security design, insider monitoring, and financial market equilibrium.
    7. Paolo F. Volpin (2002), Governance with poor investor protection: evidence from top executive turnover in Italy.
    8. Mara Faccio and Larry H. P. Lang (2002), The ultimate ownership of Western European corporations
    9. Mara Faccio and M. Ameziane Lasfer (2000), Do occupational pension funds monitor companies in which they hold large stakes?
    10. Part III Board Structure and Processes and Directors’ Remuneration

    11. Wayne R. Guay (1999), The sensitivity of CEO wealth to equity risk: an analysis of the magnitude and determinants.
    12. N. K. Chidambaran and Nagpurnanand R. Prabhala (2003), Executive stock option repricing, internal governance mechanisms, and management turnover,.
    13. John E. Core and David F. Larcker (2002), Performance consequences of mandatory increases in executive stock ownership.
    14. Julie Ann Elston and Lawrence G. Goldberg (2003), Executive compensation and agency costs in Germany.
    15. Part IV Governance Aspects of Corporate Restructuring, Corporate Funding and Cross-Holding

    16. Erik Lehmann and Jürgen Weigand (2000), Does the governed corporation perform better? Governance structures and corporate performance in Germany.
    17.  

    18. Jim Lai and Sudi Sudarsanam (1997), Corporate restructuring in response to performance decline: impact of ownership, governance and lenders.
    19. Gertjan Schut and Ruud van Frederikslust (2005), Shareholder wealth effects of joint venture strategies.
    20. Luc Renneboog (2000), Ownership, managerial control and the governance of companies listed on the Brussels stock exchange.
    21. Marc Goergen and Luc Renneboog (2003), Germany and UK: Why are the levels of controls so different in German and UK companies? Evidence from initial pubic offerings.
    22. Jorge Farinha (2003), Dividend policy, corporate governance and the managerial entrenchment hypothesis: An empirical analysis.
    23. Seok W. Lee (2002), Insider ownership and risk-taking behaviour at bank holding companies.
    24. Christian Leuz, Dhananjay Nanda and Peter D. Wysock (2003), Earnings management and investor protection: an international comparison.
    25. Part V. Corporate Governance and Takeover as Disciplinary Mechanism

    26. Rezaul Kabir, Dolph Cantrijn and Andreas Jeunink (1997), Takeover defences, ownership structure and stock returns: An empirical analysis with Dutch data.
    27. Tim Jenkinson and Alexander Ljungqvist (2001), The role of hostile stakes in German corporate governance.
    28. Paul Gompers, Joy Ishii and Andrew Metrick (2003), Corporate governance and equity prices.
    29. Julian Franks and Colin Mayer (1996), Hostile takeovers and the correction of managerial failure.
    30. Jay Dahya, John J. McConnell and Nickolaos Travlos (2002), The Cadbury Committee, corporate performance and management turnover.

    Biography

    Ruud A. I. van Frederikslust is Associate Professor of Finance at Erasmus University, the Netherlands.

    James S. Ang is Professor of Finance at Florida State University, USA.

    P. Sudi Sudarsanam is Professor of Finance and Corporate Control at Cranfield School of Management, UK.

    "This academic research collection is an impressive anthology of current heory and empirical evidence on the topics of corporate governance and corporate finance from a European Perspective. ... An excellent resource for researchers, a useful reference for academic collections, and interesting reading for graduate students and practitioners, though knowledge of financial econometrics in required for a complete understanding." -- CHOICE August 2008 Vol. 45 (J. Fitzpatrick, SUNY Fredonia)