Shareholder activism by hedge funds has over the past few years become a major corporate governance phenomenon. This paper puts the trend into context....
We study a model in which firms compete preemptively for trading opportunities and risk management introduces latency in trading. As the time pressure...
The standard narrative of the meltdown of Bear Stearns and Lehman Brothers assumes that the wealth of the top executives of these firms was largely wiped...
This paper discusses why a ?corporate governance movement? that commenced in the United States in the 1970s became an entrenched feature of American...
We examine evidence for a systematic underperformance of Germany's state-owned banks in the current financial crisis and study if the bank losses can be...