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Corporate Finance, Market Structure and the Theory of the Firm

People

 

Degeorge F.

(Responsible)

Nowak E.

(Co-responsible)

Abstract

This project, founded by the Swiss National Science Foundation (SNSF), is part of the national center of competence in finance and is coordinated by the University of Zurich. The research conducted within this project can be grouped under four main headings, which can briefly be entitled as such: (i) controlling agency problems in corporations: the roles of analysts, boards and the institutional environment; (ii) cash flow and cash holdings: implications for corporate investment and systematic risk; (iii) skills, know-how and core capabilities in corporate finance; (iv) liquidity and financial institutions.

One focus of the project lies on the analysis of a classical issue in corporate finance: motivating management and controlling misbehaviour. Professors Degeorge, Fahlenbrach, and Wagner take an empirical approach to examine the role of external governance mechanisms such as analyst coverage and the institutional and legal environment as well as internal mechanisms such as board structure and effectiveness.

Additional information

Start date
01.11.2003
End date
01.11.2009
Duration
72 Months
Funding sources
SNSF
Status
Ended
Category
Swiss National Science Foundation / NCCRs - National Centres of Competence in Research

Publications