IE University

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 & Context (language use). The organization has 527 authors who have published 1709 publications receiving 64682 citations.

Accelerating mathematical programming techniques with the corridor method

Abstract: In this paper we investigate how the Benders decomposition, Lagrangean relaxation, and Dantzig–Wolfe reformulation techniques can be accelerated when intertwined with the corridor method. We test t...

It's the Connections: The Network Perspective in Interorganizational Research

Abstract: The application of social network analysis to interorganizational contexts has seen an explosion of interest in the past several years. We argue that not only does the network or structural perspective add explanatory power to scholarly understanding of organizations' behavior and outcomes, but that it expands the universe of observed phenomena from an autonomous to a relational view for studying and explaining organizational action and outcomes. We develop an organizing framework based on three levels of network analysis (the dyad, the ego, and the whole network) and four theoretical mechanisms (resource access, trust, power/control, and signaling) to organize and review the key findings and debates in the interorganizational network literature. We point to avenues for future research based on the linkages across the boxes in our framework, gaps in the framework, and finally, extensions beyond the framework.

Trust and shareholder voting

Abstract: We show that in countries with more societal trust shareholders cast fewer votes at shareholder meetings and are more supportive of management proposals. This result is confirmed by shocks to trust and instrumental variables. It also holds at the U.S.-county level and for U.S. institutional investor voting on management proposals. Further, low shareholder participation and less dissent voting relate less negatively to future firm performance in high-trust countries, suggesting that managers do not exploit lower monitoring levels when trust is high. Our evidence supports theory according to which trust substitutes for monitoring and has implications for investors’ optimal voting effort.

Dividend Policy, Corporate Control and the Tax Status of the Controlling Shareholder

Abstract: This paper studies the impact of the concentration of control, the type of controlling shareholder and the dividend tax preference of the controlling shareholder on dividend policy for a panel of 220 German firms over 1984-2005. In line with the agency model, we find a positive relation between family control and dividend payouts at intermediate levels of control and a negative relation at high levels of control. We further document that corporate control is associated with higher dividend payouts if an industrial or commercial corporation is the majority shareholder of the company. Finally, the results provide some evidence that the tax preference of the largest shareholder matters for dividend payout decisions.