PROF. MARC GOERGEN ON CORPORATE GOVERNANCE

This paper examines one of the most consequential decisions in family firms: CEO succession. In founder-led firms, succession choices are particularly critical, as they determine whether the firm remains under family control and, if so, in what form.  We outline three main options for founder CEOs upon retirement: selling the firm, appointing a family successor, or retaining ownership while appointing a professional (non-family) CEO. While prior research has largely focused on the outcomes of these succession choices, this paper turns attention to their determinants.   Read the full paper: https://papers.ssrn.com/sol3/cf_dev/AbsByAuth.cfm?per_id=29035

This paper provides a comprehensive introduction to how social networks shape outcomes in corporate finance. It highlights that relationships between individuals and organisations, such as directors serving together, sharing educational backgrounds, or belonging to the same professional or social circles, form networks that meaningfully influence firm behaviour and governance.  The paper also distinguishes between one-mode networks (e.g., director–director links) and two-mode networks (e.g., directors and the firms they serve), showing how different analytical tools, such as centrality measures and Q-analysis, reveal patterns of influence, prominence, and information flow across corporate systems.  Read the full paper: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=5824084