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Determinants of shareholders' short-term pressures: empirical evidence from Dutch companies

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  • Tom Groot

Abstract

It is often argued that Anglo-Saxon corporate governance systems place more emphasis on short-term results than do corporate governance systems in continental European countries, such as Germany and the Netherlands. Empirical evidence on this is scarce and often contradictory. This paper examines differences in the perception of shareholders' short-term orientation by the financial managers of UK and Dutch listed firms. These differences turn out not to be as large as expected. Moreover, differences in short-term pressures to perform also appear to exist between the firms in the Dutch sample. This study attempts to identify factors that may cause differences in short-term orientation among Dutch financial managers. Two of the factors identiied are the existence of a trust office and the risk profile of the firm.

Suggested Citation

  • Tom Groot, 1998. "Determinants of shareholders' short-term pressures: empirical evidence from Dutch companies," The European Journal of Finance, Taylor & Francis Journals, vol. 4(3), pages 212-232.
  • Handle: RePEc:taf:eurjfi:v:4:y:1998:i:3:p:212-232
    DOI: 10.1080/135184798337272
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    Cited by:

    1. Robert Rieg, 2015. "Dynamics of value-based management: does shareholder value cause short-termism?," Journal of Management Control: Zeitschrift für Planung und Unternehmenssteuerung, Springer, vol. 26(2), pages 193-224, August.

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