scispace - formally typeset
Search or ask a question
Institution

IE University

EducationSegovia, Castilla y León, Spain
About: IE University is a education organization based out in Segovia, Castilla y León, Spain. It is known for research contribution in the topics: Corporate governance & Supply chain. The organization has 527 authors who have published 1709 publications receiving 64682 citations.


Papers
More filters
Journal ArticleDOI
TL;DR: In this paper, the authors analyzed the decision to change the dividend for a panel of German firms from 1984 to 1994 and found that the occurrence of a loss is a key determinant of the dividend decision in addition to the level of net earnings.
Abstract: This paper analyses the decision to change the dividend for a panel of German firms from 1984 to 1994. The period captures an economic boom which followed by a recession. This study comes up with two findings which refine the results by Lintner (1956) and Miller and Modigliani (1961). First, the occurrence of a loss is a key determinant of the dividend decision in addition to the level of net earnings. Second, dividend cuts or omissions tend to be temporary and the majority of German firms revert within two years to their initial dividend level. This stands in marked contrast with the US where firms are more likely to reduce their dividend when earnings deteriorate on a permanent basis. Furthermore, the fact that German firms frequently omit and cut their dividend and quickly return to their initial dividend suggests that dividends in Germany have less of a signalling role than dividends in the US or UK. Our findings also contradict Bhattacharya's (1979) argument that the costs of dividend changes are asymmetric with dividend reductions being more costly to the firm than dividend increases. Finally, we find that firms with banks as major shareholder are more willing toomit the dividend than firms controlled by other types of shareholder.

199 citations

Journal ArticleDOI
TL;DR: In this paper, the authors provide empirical evidence on the motivations for earnings management in publicly listed family companies, highlighting the differences from public non-family firms and hypothesize that family firms are less sensitive to income-smoothing motivations than are nonfamily firms, while they are similarly motivated to manage earnings for debt-covenant and leverage-related reasons.
Abstract: Recent accounting-related scandals have underscored the prevalence of earnings management in financial markets. This article provides empirical evidence on the motivations for earnings management in publicly listed family companies, highlighting the differences from public nonfamily firms. Basing our predictions on an analysis of the salient characteristics of family firms in both an agency and a stewardship framework, we hypothesize that family firms are less sensitive to income-smoothing motivations than are nonfamily firms, while they are similarly motivated to manage earnings for debt-covenant and leverage-related reasons. We test our hypotheses by looking at a specific accrual, R&D cost capitalization, where statistical tests confirm our hypothesized relationships.

195 citations

Journal ArticleDOI
TL;DR: In this paper, the authors examine the impact of competing logics on budgeting practices and the meanings attributed to budgetary outcomes. But they do not consider the relationship between logics and the meaning of budget outcomes.
Abstract: This paper examines the introduction of budgeting practices in situations where institutional logics are competing. The empirical cases, studied in two phases in the 1990s and in 2011, explore tensions that emerged between the new business logic, prevailing professional logic, and governance logic in the education field. We analyze the theorization of budgeting practices and their performative effect on cognition in organizations. We argue that competing logics in a field impact upon budgeting practices and theorization of the meanings attributed to budgetary outcomes. Our study contributes to the understanding of accounting in processes of institutional change, and the further development of neo-institutionalist theory by attending to the sources of practice variation and their relationship to competing logics. We advance four tentative theoretical propositions concerning the impact of multiple logics upon budgetary practices.

194 citations

Journal ArticleDOI
TL;DR: In this paper, the relative impact of Corporate Social Responsibility on consumer resistance to negative information when confronted with negative information about a firm is investigated. But, the results demonstrate that CSR may offer less of blanket insurance than other important marketing measures, such as customer orientation and service quality orientation.
Abstract: Despite increased research on the various effects of Corporate Social Responsibility (CSR), the question of whether CSR is worthwhile for firms still remains to be addressed. Prior work suggests that CSR offers firms insurance-like protection against negative publicity due to greater levels of goodwill with various stakeholders. Yet, we still miss an answer to the following question: How effective, if at all, is CSR in insulating firms from scrutiny compared to other important marketing measures, such as customer orientation and service quality orientation? This study develops and empirically tests a theoretical framework that demonstrates the relative impact of CSR on consumer resistance to negative information when confronted with negative information about a firm. The results demonstrate that CSR shields firms from negative information about CSR practices but not information related to firms’ core service offerings. Managerially, the findings demonstrate that CSR may offer less of blanket insurance tha...

193 citations

Journal ArticleDOI
TL;DR: This paper first proves NP-hardness of the BRP as well as a special case, closing open research questions, and proposes a simple heuristic based upon a set of relocation rules that is used to generate “good” quality solutions for larger instances in very short computational time.

191 citations


Authors

Showing all 569 results

NameH-indexPapersCitations
Andreas Richter11076948262
Martin J. Conyon4913110026
Mahmoud Ezzamel491387116
Mauro F. Guillén4514811899
Kazuhisa Bessho432235490
Bryan W. Husted401047369
Luis Garicano401197446
Marc Goergen382095677
Diego Miranda-Saavedra38597559
Cipriano Forza37846426
Dimo Dimov331176158
Gordon Murray32905604
Pascual Berrone29647732
Albert Maydeu-Olivares27373470
Jelena Zikic26462398
Network Information
Related Institutions (5)
Copenhagen Business School
9.6K papers, 341.8K citations

90% related

Stockholm School of Economics
4.8K papers, 285.5K citations

89% related

Bocconi University
8.9K papers, 344.1K citations

87% related

INSEAD
4.8K papers, 369.4K citations

87% related

London Business School
5.1K papers, 437.9K citations

86% related

Performance
Metrics
No. of papers from the Institution in previous years
YearPapers
202313
202246
2021124
2020142
2019103
201891