Skip to main content


My primary area of interest is corporate finance, where I have worked mostly with capital budgeting, valuation effects of taxation, seasoned equity offerings, dividend policy, and corporate governance. My research is published in outlets like the Journal of Financial Economics, Review of Finance, Journal of Corporate Finance, European Finance Review, Journal of Banking and Finance, European Financial Management, Scandinavian Journal of Economics, International Review of Law and Economics, Economics Letters, Decision Sciences, Journal of Business Ethics, Journal of Economic Psychology, and Energy Economics. Most of my current research projects are in corporate governance, analyzing the relationship between dividends, taxes, and agency costs, the determinants of board independence in a free contracting environment, the persistence of ownership concentration in private firms, the merits of family management in family firms, shareholder turnout at the general meeting, and the modeling of shareholders' response to a tax shock. I am the founding director of the Centre for Corporate Governance Research ( .

Research Interests

Ownership concentration, private firms, the governance of family firms, dividends and agency conflicts, board independence, the shareholder meeting, ownerless firms

Working Papers


Scroll to Top