My research area is empirical corporate finance. My research interests are corporate governance, initial public offerings, dividend policy, mergers & acquisitions, insider trading, private equity, and boards of directors.
I have published my research in Entrepreneurship Theory and Practice, the Harvard Business Review, the Journal of Finance, the Journal of Financial Intermediation, and the Journal of Corporate Finance. Most of my working papers are available for downloading on the internet site of the Social Sciences Research Network (http://www.ssrn.com).
Some of my research has been discussed in practitioners’ publications such as Private Equity News, Deutsche Bank’s Research Notes in Economics & Statistics (No 02-3, July 2002), Euromoney Magazine (January 1996) and Financial News (October 2005) as well as a broadsheet newspaper, The Sunday Times of 23 October 2005. In 2013, the British Venture Capital Association (BVCA) issued a press release about one of my studies. This study was also mentioned in a letter and two articles in the Financial Times of 14 June 2013 and 4 December 2014. It was also covered by the German magazine WirtschaftsWoche of 17 June 2013 (no. 25, p.38). On 7 December 2016, Reuters did a news brief about my research which found that firms with women on their board of directors pay higher dividends. My research on how female directors increase renewable energy consumption was discussed in an article in the Portuguese newspaper Díario de Notícias on 21 April 2021.
I am a regular contributor to various blogs, including the Harvard Business Review Blog, the Oxford Business Law Blog, the Harvard Law School Forum on Corporate Governance and Financial Regulation, and the Columbia Law School Blue Sky Blog.
Key Publications
Journal Articles
- Goergen, M. and S. Mira (2023), ‘Measuring the Ownership and Control of UK Listed Firms: Some Methodological Challenges’, British Accounting Review 55, 101272.
- Lesmeister, S., Limbach, P. and M. Goergen (2022), ‘Trust and Shareholder Voting’, Journal of Banking and Finance 143, 106587.
- Atif, M., Hossain. M., Alam, M.S. and M. Goergen (2021), ‘Does Gender Diversity Affect Renewable Energy Consumption?’, Journal of Corporate Finance 66, Special section on “25 years and counting of Corporate Finance: What have we learned and where are we going?” Guest editors: I. Hutton, C. Zutter and A. Knill, 101665.
- Goergen, M., Gounopoulos, D. and P. Koutroumpis (2021), ‘Do Multiple Credit Ratings Reduce Money Left on the Table? Evidence from U.S. IPOs’, Journal of Corporate Finance 67, 101898.
- Goergen, M., Limbach, P. and M. Scholz-Daneshgari (2020), ‘Firms’ Rationales for CEO Duality: Evidence from a Mandatory Disclosure Rule’, Journal of Corporate Finance 65, 101770.
- Chen, J., Leung. W.S., Song W. and M. Goergen (2019), ‘Research: When Women Are on Boards, Male CEOs Are Less Overconfident’, Harvard Business Review, Web Article, September 12
- Chahine, S., Saade, S. and M. Goergen (2019), ‘Foreign Business Activities, Foreignness of the VC Syndicate, and IPO Performance’, Entrepreneurship Theory and Practice 43, 947-973.
- Chen, J., Leung. W.S., Song W. and M. Goergen (2019), ‘Why Female Board Representation Matters: The Role of Female Directors In Reducing Male CEO Overconfidence’, Journal of Empirical Finance 53, 70-90.
- Goergen, M., Chahine, S., Brewster, C. and G. Wood (2019), ‘The Relationship between Public Listing, Context, Multi-nationality and Internal CSR’, Journal of Corporate Finance 57, 122-141.
- Chen, J., Song W. and M. Goergen (2019), ‘Passing the Dividend Baton: The Impact of Dividend Policy on New CEOs’ Initial Compensation’, Journal of Corporate Finance 56, 458-481.
- Chen, J., Goergen, M., Leung W.S. and W. Song (2019), ‘CEO and Director Compensation, CEO Turnover and Institutional Investors: Cronyism in the UK?’, Journal of Banking and Finance 103 (June), 18-35.
- Goergen, M., Renneboog, L. and Y. Zhao (2019), ‘Insider Trading and Networked Directors’, Journal of Corporate Finance 56, 152-175.
- Chen, J., Leung, W.S. and M. Goergen (2017), ‘The Impact of Board Gender Composition on Dividend Payouts’, Journal of Corporate Finance 43, 86-105.
- Goergen, M., Limbach, P. and M. Scholz (2015), ‘Mind the Gap. The Age Difference between the CEO and the Chair’, Journal of Corporate Finance 35, 136-158.
- Ansari, I.F., Goergen, M. and S. Mira (2014), ‘The Determinants of the CEO Successor Choice in Family Firms’, Journal of Corporate Finance 28, 6-25.
- Goergen, M., O’Sullivan, N. and G. Wood (2014), ‘The Employment Consequences of Private Equity Acquisitions: The Case of Institutional Buy-Outs’, European Economic Review 71, 67-79.
- Chahine, S. and M. Goergen (2014), ‘Top Management Ties with Board Members: How They Affect Pay-Performance Sensitivity and IPO Performance’, Journal of Corporate Finance 27, 99-115.
- Chahine, S. and M. Goergen (2013), ‘The Effects of Management-Board Ties on IPO Performance’, Journal of Corporate Finance 21 (June), 153-179.
- Chahine, S. and M. Goergen (2011), ‘The Two Sides of CEO Option Grants at the IPO’, Journal of Corporate Finance 17 (4), 1116-1131.
- Andres, C, Betzer, A., Goergen, M., and L. Renneboog (2009), ‘Dividend Policy of German Firms: A Panel Data Analysis of Partial Adjustment Models’, Journal of Empirical Finance 16 (2), 175-187.
- Goergen, M. and L. Renneboog (2008), ‘Contractual Corporate Governance’, Journal of Corporate Finance 14 (3), 166-182.
- Abdallah, W. and M. Goergen (2008), ‘Does Corporate Control Determine the Cross-listing Location?’, Journal of Corporate Finance 14 (3), 183-199.
- Fidrmuc, J., Goergen, M. and L. Renneboog (2006), ‘Insider Trading, News Releases and Ownership Concentration’, Journal of Finance 61 (6), 2931-2973.
- Goergen, M., Renneboog, L. and A. Khurshed (2006), ‘Explaining the Diversity in Shareholder Lockup Agreements’, Journal of Financial Intermediation 15 (2), 254-280.
- Goergen, M., Renneboog, L. and L. Correia da Silva (2005), ‘When Do German Firms Change their Dividends?’, Journal of Corporate Finance 11 (1&2), 375-399.
- Goergen, M. and L. Renneboog (2003), ‘Why are the Levels of Control (So) Different in German and UK Companies? Evidence from Initial Public Offerings’, Journal of Law, Economics, and Organization 19 (1), 141-175.
- Goergen, M. and L. Renneboog (2001), ‘Investment Policy, Internal Financing and Ownership Concentration’, Journal of Corporate Finance 7 (2), 257-284.
Books
- Goergen, M. (2018), Corporate Governance. A Global Perspective, Andover: Cengage Learning EMEA.
- Goergen, M. (2012), International Corporate Governance, Harlow: Pearson Education Prentice Hall, 336 p.
- Goergen, M., Mallin, C., Mitleton-Kelly, E., Al-Hawamdeh, A. and I. Chiu (2010), Corporate Governance and Complexity Theory, Cheltenham: Edward Elgar, 133+ix p.
- Correia da Silva, L., Goergen, M. and L. Renneboog (2004), ‘Dividend Policy and Corporate Governance’, Oxford: Oxford University Press, 185+xiv p. Translated into Chinese: Gu Li Zheng Ce Yu Gong Si Zhi Li, Beijing: Peking University Press, 2006.
- Goergen, M. (1998), ‘Corporate Governance and Financial Performance: A Study of German and UK Initial Public Offerings’, Cheltenham: Edward Elgar Publishing, 183+xii p.
