Marc Goergen

IE BUSINESS SCHOOL, Finance, Faculty Member

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Marc Goergen holds a BSc 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 Cardiff University, the University of Manchester, UMIST, the University of Reading and the University of Sheffield. He holds a chair in finance at IE Business School in Madrid.

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 written three research monographs on corporate governance and has contributed chapters to many edited books. The second edition of his successful textbook on corporate governance was published by Cengage in March 2018.

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Katherine Butler Schofield

King's College London

Vincenzo Bavoso

The University of Manchester

Nic Ryder

Cardiff University

Steffen Boehm

University of Exeter

Colin Williams

The University of Sheffield

David Seamon

Kansas State University

Remo Caponi

University of Cologne

Valerio Sangiovanni

University of Trento

Egil Bakka

Norwegian University of Science and Technology

Armando Marques-Guedes

UNL - New University of Lisbon

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Books by Marc Goergen

Corporate Governance. A Global Perspective.

Corporate Governance: A Global Perspective provides a comprehensive introduction to corporate gov... more Corporate Governance: A Global Perspective provides a comprehensive introduction to corporate governance theory and practice. Covering topics such as ownership and control, boards of directors and emerging markets, this text highlights the multidisciplinary nature of corporate governance and demonstrates that there is much more to it than compliance with codes of best practice. This edition covers important issues relating to the design of capitalist systems, discussing how emerging economies such as China escaped the Financial Crisis unscathed and exploring the impact of immigration and rising inequality. Corporate Governance: A Global Perspective is suitable for undergraduate, Master’s and MBA students. This newly acquired title has been thoroughly revised by Cengage to reflect the latest development in Corporate Governance, including updates to regulation and codes of best practice.

International Corporate Governance

International Corporate Governance provides a thorough introduction to the state of the art of co... more International Corporate Governance provides a thorough introduction to the state of the art of corporate governance research and practice. It covers a wide range of topics, including corporate control, regulation, behavioural issues and the role of stakeholders in corporate governance. The text not only reflects the multidisciplinary nature of corporate governance, but it also adopts an international perspective by highlighting the major differences in corporate control and corporate governance practice across the world. While rigorous, the text avoids needless jargon and uses language that is accessible to a wider audience. It also makes a critical assessment of current regulation, practice and research findings.

Papers by Marc Goergen

The Impact of Board Gender Composition on Dividend Payouts

Social Science Research Network, 2016

This paper investigates whether female independent directors are more likely to impose high divid... more This paper investigates whether female independent directors are more likely to impose high dividend payouts. We find evidence that firms with a larger fraction of female directors on their board have greater dividend payouts. This finding is robust to alternative econometric specifications, and alternative measures of dividend payouts and female board representation. The positive effect of board gender composition on dividends remains when we employ propensity score matching, the instrumental variable approach, and difference-indifferences approach to address potential endogeneity concerns. Furthermore, we find that board gender composition significantly increases the dividend payout only for firms with weak governance, suggesting that female directors use dividend payouts as a governance device.

Marc Goergen

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