| Affiliation: | The authors are respectively from Leeds University Business School and the Department of Accounting and Finance, University of Strathclyde. They would like to thank an anonymous referee, Silvia Gomez Anson, Oyvind Bohren, Clara Graziano, Kevin Keasey, Peter Pope (editor), Taeyoon Sung, Steen Thomsen, Josep Tribo, Pauline Weetman, and seminar participants at the Centre for Economics and Business Research conference on Corporate Governance in Closely Held Firms, 2005, the European Financial Management Association symposium on European Corporate Governance, 2005, the Institut fur Finanzmanagement conference on Corporate Governance in Family/Unlisted Firms, 2006, the JBFA;Capital Markets Conference, 2008, the University of Glasgow, and the University of Strathclyde for their valuable comments on earlier drafts of this paper. They would also like to thank Martin Kemmitt for helpful research assistance. All errors remain the authors own. |
