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Professor Marc Goergen

Professor of Finance
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Marc Goergen, Professor of Finance, Cardiff Business School
ECGI Research Associate (2002) :

Marc Goergen holds an MSc in Economics from the Free University of Brussels (ULB) and an MBA in European Business from Solvay Business School, Brussels. He completed his DPhil in Economics at Keble College, University of Oxford. He has held appointments at the University of Manchester, UMIST, the University of Reading and the University of Sheffield. He currently holds a chair in finance at Cardiff Business School, Cardiff University.

His main research interests are in corporate governance and corporate control, initial public offerings, corporate investment models, mergers and acquisitions, insider trading, human capital issues across corporate governance systems and dividend policy. He has papers published in a number of academic journals, including European Financial Management, the Journal of Corporate Finance, the Journal of Finance, the Journal of Financial Intermediation and the Journal of Law, Economics & Organization. He has also written two books on corporate governance and has contributed chapters to several edited books.

Marc is a fellow of the International Institute of Corporate Governance and Accountability based at the Law School of the George Washington University, USA.

Research Interests
Corporate governance and corporate control
Corporate investment models
Dividend policy
Human capital issues across corporate governance systems
Initial public offerings (IPOs)
Insider trading
Mergers and acquisitions

ECGI Working Papers (Click title for more details)
The impact of board gender composition on dividend payouts ECGI Finance Working Paper 488/2016 October 2016
Mind the gap: The Age Dissimilarity between the Chair and the CEO ECGI Finance Working Paper 452/2015 August 2015
The Employment Consequences of Private Equity Acquisitions: The Case of Institutional Buy Outs ECGI Finance Working Paper 428/2014 July 2014
Top Management Ties with Board Members: How They Affect Pay-Performance Sensitivity and IPO Performance ECGI Finance Working Paper 419/2014 April 2014
The Determinants of the CEO Successor Choice in Family Firms ECGI Finance Working Paper 406/2014 January 2014
Insider Trading and Financing Constraints ECGI Finance Working Paper 363/2013 June 2013
The Effects of Management-Board Ties on IPO Performance ECGI Finance Working Paper 348/2013 February 2013
Trust, Owner Rights, Employees and Firm Performance ECGI Finance Working Paper 336/2012 August 2012
Private Equity Takeovers and Employment in the UK: some Empirical Evidence ECGI Finance Working Paper 310/2011 June 2011 Winner of the 2012 Standard Life Investments Finance Prize (Best paper in the Finance Working Paper series)
VC Board Representation and IPO Performance ECGI Finance Working Paper 280/2010 April 2010
Disentangling the Link Between Stock and Accounting Performance in Acquisitions ECGI Finance Working Paper 259/2009 January 2014
Underpricing and CEO Stock Options: Do Board Characteristics Matter? ECGI Finance Working Paper 257/2009 August 2009
The Dividend policy of German firms. A panel data analysis of partial adjustment models ECGI Finance Working Paper 216/2008 August 2008
Corporate Stakeholders and Trust ECGI Finance Working Paper 213/2008 July 2008
Do UK institutional shareholders monitor their investee firms? ECGI Finance Working Paper 208/2008 April 2008
Contractual Corporate Governance ECGI Finance Working Paper 205/2008 April 2008
Corporate Governance Regimes, Investments in Human Capital and Economic Growth ECGI Finance Working Paper 188/2007 September 2007
What do we know about different systems of corporate governance? ECGI Finance Working Paper 163/2007 April 2007
The Effects of the National Setting on Employment Practice: the Case of Downsizing ECGI Finance Working Paper 136/2006 May 2013
Why are the French so Different from the Germans? Underpricing of IPOs on the Euro New Markets ECGI Finance Working Paper 122/2006 April 2006
Shareholder lock-in contracts: Share price and trading volume effects at the lock-in expiry ECGI Finance Working Paper 102/2005 November 2005
Does Corporate Control Determine the Cross-listing Location? ECGI Finance Working Paper 098/2005 October 2005
Insider Trading, News Releases and Ownership Concentration ECGI Finance Working Paper 093/2005 August 2005
Explaining the diversity in shareholder lockup agreements ECGI Finance Working Paper 048/2004 April 2006 revised version First published in September 2004 under the title "Lockup agreements in French Nouveau Marché and German Neuer Markt IPOs"
Dividend policy of German firms. A dynamic panel data analysis of partial adjustment models ECGI Finance Working Paper 045/2004 July 2004
Recent Developments in German Corporate Governance ECGI Finance Working Paper 041/2004 May 2004
Corporate Governance Convergence: Evidence from Takeover Regulation ECGI Law Working Paper 033/2005 April 2005
The Rise and Fall of the European New Markets: on the Short and Long-run Performance of High-tech Initial Public Offerings ECGI Finance Working Paper 027/2003 September 2003
Lock-in agreements in venture capital-backed UK IPOs ECGI Finance Working Paper 026/2003 September 2003
Dividends and Politics ECGI Law Working Paper 024/2004 Revised March 2006 Winner of the 2005 De Brauw Blackstone Westbroek Law Prize (Best paper in the Law series)
When do German firms change their dividends? ECGI Finance Working Paper 013/2003 February 2003
Shareholder wealth effects of European domestic and cross-border takeover bids ECGI Finance Working Paper 008/2003 January 2003 Winner of the European Financial Management EFM 2004 Best Paper Award. Published in the EFM Journal, (Volume10, 1, March 2004)
Why are the levels of control (so) different in German and UK companies? Evidence from initial public offerings ECGI Finance Working Paper 007/2003 January 2003

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