ERIM is the publisher of two lines of printed books, the ERIM PhD Series and ERIM Inaugural Address Series. Thanks to an initiative of Wilfred Mijnhardt, Executive Director ERIM, these two lines of publications will in future become much greener. Gabi Helfert of Greening RSM talked to Wilfred about this exciting progress.
The association between ownership concentration and firm performance is very much influenced by both formal institutions like a country’s legal framework, labor protection and shareholder provisions as well as informal institutions like culture and codes of good corporate governance influence. The same goes for the association between firm performance and executive remuneration, as well as for the level of underpricing of initial public offerings (IPO). The results of empirical research in the area of ownership concentration and the identity of large shareholders of North-American listed companies indicate that these shareholders do not have any significant positive effect on the value or profitability of these companies. Therefore, there is little empirical evidence for one of the most important and most researched internal corporate governance mechanism. This disconnect between on the one hand the dominant agency theory on the role and influence of ownership concentration and on the other hand the currently available empirical evidence, shows that a thorough re-evaluation of the role of shareholders within corporate governance is necessary. In his PhD thesis An Institution-Based View of Ownership, which was awarded cum laude, Marc van Essen contributes to this re-evaluation of ownership by examining two broad issues.
The Erasmus School of Economics has won a €700k NWO-WOTRO subsidy for a 4-year project entitled: ‘Escaping the Middle-income country trap: targeted and pragmatic policies for technological upgrading and worker-inclusive industrial strategies as drawn from a firm-level analysis of the Philippines & Thailand’. Professor Rob van Tulder, Academic Director of the SCOPE centre for international business and sustainable development, will play an important role in the project.
Dr. Amy Greenwald, Associate Professor at Brown University, Rhode Island, USA, who currently spends her sabbatical (from January to August) at ERIM’s Learning Agent Research Group at Erasmus (LARGE), has just received an NWO research visitor grant and the prestigious Fulbright Fellowship.
Dr. Ingrid Verheul, Assistant Professor of Entrepreneurship, was interviewed on 26 February on the topic of Women and Entrepreneurship by Dutch Radio 1 programme TROS In Bedrijf.
Neuroscience is one of the newest trends in market research, because sometimes your brain knows what you want better than you think it does. Professor Ale Smidts and PhD candidate Mirre Stallen were featured in VPRO's TV programme Labyrint, entitled ‘De Gedachtenlezers’ (the Mindreaders), on Tuesday, 1 March 2011.
Do current benchmark asset pricing models adequately describe the cross-section of stock returns? David Blitz believes that these benchmarks can be challenged, and proposes new ones. In his thesis, Benchmarking Benchmarks, Blitz presents a momentum strategy based on residual stock returns that vastly improves upon traditional momentum strategies.
Ale Smidts, Professor of Marketing Research and Director of the Centre for Neuroeconomics at the Erasmus University Rotterdam and Paul Wouters, Professor of Scientometrics and Director of the Centre for Science and Technology Studies at Leiden University, have received an NWO “Open Research Area” grant. Over a period of three years, they will receive a total subsidy of € 210,000 to lead a European project on the “Neuro turn in European Social Sciences and the Humanities: Impacts of neurosciences on economics, marketing and philosophy” (acronym: NESSHI).
Reliable and punctual public transportation is of chief importance for workforce mobility and access to cities. In particular, the performance of passenger intercity railway systems continues to receive much public attention in the Netherlands and other European countries. Over the last decade, an increasing amount of effort has been put into developing innovative methods for planning railway resources in order to improve service levels and cut costs. In his doctoral thesis Rolling Stock Rescheduling in Passenger Railways, Lars Nielsen analyses the real-time control of passenger railway systems and in particular on the rescheduling of railway resources during and after disruptions. In this process the rescheduling of the rolling stock, i.e. the train units, poses a major challenge for the dispatchers.