http://repub.eur.nl/res/col/8027/ List of Publications en http://repub.eur.nl/static-eur/img/logo.png http://repub.eur.nl http://repub.eur.nl/res/pub/8028/ 1999-04-22T00:00:00Z According to Cochran and Wartick (1988), corporate governance is an umbrella term that covers many aspects related to concepts, theories and practices of boards of directors and their executive and non-executive directors. It is a field that concentrates on the relationship between boards, stockholders, top management, regulators, auditors and other stakeholders. A related definition of corporate governance comes from Monks and Minow (1995). These authors state: “What is corporate governance? It is the relationship among various participants in determining the direction and performance of corporations” (Monks and Minow, 1995:1). In this definition, the group of participants includes shareholders, management, members of board of directors, employees, customers, suppliers, creditors and other interest groups. The World Bank states: “Corporate governance refers to that blend of law, regulation and appropriate voluntary private sector practices which enable the corporation to attract financial and human capital, perform efficiently, and thereby perpetuate itself by generating long-term economic value for its shareholders, while respecting the interests of stakeholders and society as a whole. The principal characteristics of effective corporate governance are: transparency (disclosure of relevant financial and operational information and internal processes of management oversight and control); protection and enforceability of the rights and prerogatives of all shareholders; and, directors capable of independently approving the corporation's strategy and major business plans and decisions, and of independently hiring management, monitoring management's performance and integrity, and replacing management when necessary” (www.worldbank.org, Jan 1999). Sheridan and Kendall (1992), suggest that “ . . . different countries have different ideas as to what constitutes good corporate governance [ . . . ] nowhere does anyone appear to have defined corporate governance per se.” These and other definitions indicate that the field of corporate governance is a rich one. As stated by Tricker (1993:2), “ . . . corporate governance can mean many things to those concerned. Institutional investors have a different perspective from corporate regulators, board members from researchers. Insights can be drawn from the professional and theoretical worlds of organisational behavior, jurisprudence, financial economics, accountancy and auditing, as well as from the experiential worlds of director behaviour and board practices.” See also Moerland (1997) for an overview of corporate governance definitions. Maassen, G.F. http://repub.eur.nl/res/pub/14376/ 1993-01-01T00:00:00Z Bruggen, G.H. van http://repub.eur.nl/res/pub/22413/ 1992-11-19T00:00:00Z Dit proefschrift gaat over de economische prestaties na de management buy-out (MBO) en beoogt de volgende M~Teneerst'e een bespreking van de ontwikkeling van de MBO in Nederland gedurende de periode 1980-1990. Ten tweede empirisch te onderzoeken hoe de economische prestaties van Nederlandse MBO's zich verhouden ten opzichte van de branchegemiddelde. Ten derde een analyse van de verklaringen die voor het succes van de MBO in de empiri~tuur worden aangetroffen,~v.:iëide na te gaan welke additionele verklaring de uitkopende directieleden en financiers van Nederlandse MBO's geven voor de verbeterde economische prestaties van hun bedrijf. Ten vijfde de formulering van hypothesen die voor de empirische toetsing van deze additionele verklaring kunnen worden gebruikt. En ten zesde een analyse van de agentschapsrelatie tussen uitkopend management-personeel als plausibele verklaringsbron voor de verbeterde economische prestaties na de afsplitsing. Bruining, J. http://repub.eur.nl/res/pub/12481/ 1974-01-01T00:00:00Z Wierenga, B.