Performance in financial services: Does institutional ownership matter?

Investment Following a Financial Crisis: Does Foreign Ownership Matter?

We investigate whether foreign ownership shields firms from liquidity constraints following a financial crisis. Recent crises in East Asia, Latin America, and Russia have been characterized both by large currency devaluations and widespread collapse of the banking sector. Although a currency devaluation should increase exporters’ competitiveness and investment, a collapsing banking system may d...

Free Cash Flow, Institutional Ownership and Long-Term Performance

Performance appraisal is a process which help shareholders make informed and optimal investment decisions. In recent decades, a long stream of research has devoted particular attention to the importance and impact of financial decisions on firm performance and firm value. The present study thus is primarily concerned with investigating the association between free cash flow and institutional ow...

Does Nonprofit Ownership Matter?

Does Institutional Memory Matter?

A fter 55 years of service, Dr. Joseph C. Greenfield quietly stepped down from his position as Director of the Heart Station, Durham Veterans Administration Hospital affiliated with Duke University Medical Center. Dr. Greenfield was also the James B. Duke Professor of Medicine, Chairman of Medicine and Chief of Cardiology Emeritus, and one of my most important mentors. This marks an event that ...

Crisis performance of European banks – does management ownership matter?

Failure in bank corporate governance has been seen as a contributing factor to excessive risk-taking pre-crisis with devastating implications as risks realised during the financial crisis. Unfortunately, the empirical evidence on the impact of managerial incentives on bank crisis performance is scarce. Moreover, bank strategy has not previously been accounted for. Hence, this paper presents nov...