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We study the roles of traditional governance (boards, sponsors, etc.) and market governance(investors voting with their feet) in mutual funds and variable annuities. We find that market governance is less pronounced for variable annuity investors. Using a ...
Systemic risks and hazards have become increasingly significant features of modern industrial society of which the network industries form a vital element. The idea of systemic risk, however, is much less prominent in the network industries compared to ban ...
In this paper we focus on risk and uncertainty caused by the (1) discretionary behavior of regulatory bodies and (2) the instruments and mechanisms implemented to regulate public services in general and the postal sector in particular. In previous articles ...
The European railway sector is undergoing dramatic changes. During the still ongoing liberalization process most vertically-integrated railway operators have already been “unbundled”. The shift from integrated to disintegrated companies coupled with the in ...
The institutional governance of many network industries has been undergoing fundamental developments over the last two decades driven by liberalization efforts and industry restructuring programs aiming at an improvement of the sector performance. Experien ...
In this study, we explore the impact of venture capitalist involvement on the relationship between a new venture's pre-IPO performance and the subsequent likelihood of founder turnover. Using new venture perspectives, and the life cycle and agency theories ...
Regulation of the European railway sector remains a central issue in the framework of the current liberalization process. From a regulatory perspective, the patchwork of national legislations and the delays in transposing and implementing the European Dire ...
IRGC defines risk governance deficits as deficiencies (where elements are lacking) or failures (where actions are not taken or prove unsuccessful) in risk governance structures and processes. They hinder a fair and efficient risk governance process. The de ...
This report comprises an overview of bioenergy developments and policies, a commentary on these developments which highlights some of the opportunities and risks of bioenergy, and presents the International Risk Governance Council’s risk governance guideli ...
I analyze the role of executive compensation in corporate governance. As proxies for corporate governance, I use board size, board independence, CEO-chair duality, institutional ownership concentration, CEO tenure, and an index of shareholder rights. The r ...