Henri Servaes
Henri Servaes
Richard Brealey Professor of Corporate Governance
Professor of Finance
Regent's Park, London NW1 4SA
United Kingdom
Tel: +44 (0)20 7000-8268
e-mail: hservaes(at)london(dot)edu
Embedded Files
Working Papers
The Role of Public Relations Advisors in Mergers and Acquisitions, co-authored with Zhiwei Hao, Dimitris Petmezas, and Huizhong Zhang, September 2024.
Do Consumers Care about ESG: Evidence from Barcode Level Sales, co-authored with Jean-Marie Meier, Jiaying Wei, and Steven Chong Xiao, January 2024.
Publications
Sexism, Culture, and Firm Value: Evidence from the Harvey Weinstein Scandal and the #MeToo Movement, co-authored with Karl Lins, Lukas Roth, and Ane Tamayo, forthcoming, Journal of Accounting Research.
Trust, Social Capital, and the Bond Market Benefits of ESG Performance, co-authored with Hami Amiraslani, Karl Lins, and Ane Tamayo, Review of Accounting Studies 28, 2023.
The Costs and Benefits of Performance Fees in Mutual Funds, co-authored with Kari Sigurdsson, Journal of Financial Intermediation 50, 2022.
Credit Ratings and Acquisitions, co-authored with Nihat Aktas, Dimitris Petmezas, and Nikolaos Karampatsas, Journal of Corporate Finance 69, 2021.
The Benefits of Buying Distressed Assets, co-authored with Jean-Marie Meier, Journal of Applied Corporate Finance 32, 2020.
The Bright Side of Fire Sales, co-authored with Jean-Marie A. Meier, Review of Financial Studies 32, 2019.
Social Capital, Trust, and Corporate Performance: How CSR Helped Companies During the Financial Crisis (And Why It Can Keep Helping Them), co-authored with Karl Lins and Ane Tamayo, Journal of Applied Corporate Finance 31, 2019.
Social Capital, Trust, and Firm Performance: The Value of Corporate Social Responsibility during the Financial Crisis, co-authored with Karl Lins and Ane Tamayo, Journal of Finance 72, 2017.
The Role of Social Capital in Corporations: A Review, co-authored with Ane Tamayo, Oxford Review of Economic Policy 33, 2017.
Have Rating Agencies Become More Conservative ? Implications for Capital Structure and Debt Pricing, co-authored with Ramin Baghai and Ane Tamayo, Journal of Finance 69, 2014
How Do Industry Peers Respond to Control Threats?, co-authored with Ane Tamayo, Management Science 60, 2014.
The Impact of Corporate Social Responsibility on Firm Value: The Role of Customer Awareness, co-authored with Ane Tamayo, Management Science 59, 2013.
What Drives Market Share in the Mutual Fund Industry?, co-authored with Ajay Khorana, Review of Finance 16, 2012.
Does Fair Value Reporting Affect Risk Management? International Survey Evidence, co-authored with Karl Lins and Ane Tamayo, Financial Management 40, 2011.
What Drives Corporate Liquidity? An International Survey of Cash Holdings and Lines of Credit, co-authored with Karl Lins and Peter Tufano, Journal of Financial Economics 98, 2010.
The Theory and Practice of Corporate Risk Management, co-authored with Ane Tamayo and Peter Tufano, Journal of Applied Corporate Finance 21, 2009.
Mutual Fund Fees Around the World, co-authored with Ajay Khorana and Peter Tufano, Review of Financial Studies, 2009.
Letter to President and CEO of The Investment Funds Institute of Canada responding to her comments on previous draft of the paper, May 2007.
Letter to Dan Hallett, who raised questions about the paper, May 2008.
On the Future of the Mutual Fund Industry Around the World, co-authored with Ajay Khorana, in Yasuyuki Fuchita and Robert E. Litan, eds., Pooling Money: The Future of Mutual Funds (Brookings Institution), 2008.
Changes in Insider Ownership and Changes in the Market Value of the Firm, co-authored with John McConnell and Karl Lins, Journal of Corporate Finance 14, 2008.
Private Equity: Boom and Bust, co-authored with Viral Acharya and Julian Franks, Journal of Applied Corporate Finance 19, 2007.
Portfolio Manager Ownership and Fund Performance, co-authored with Ajay Khorana and Lei Wedge, Journal of Financial Economics 85, 2007.
Ranking Risk and Finance, co-authored with Peter Tufano, Financial Times, June 9, 2006.
Explaining the Size of the Mutual Fund Industry Around the World, co-authored with Ajay Khorana and Peter Tufano, Journal of Financial Economics 78, 2005.
Corporate Governance, Incentives, and Industry Consolidations, co-authored with Keith C. Brown and Amy Dittmar, Review of Financial Studies 18, 2005.
The Effect of Market Conditions on Initial Public Offerings, co-authored with Raghuram Rajan, in J. McCahery and L. Renneboog, eds, Venture capital contracting and the valuation of high-tech firms, Oxford University Press, 2003.
International Corporate Governance and Corporate Cash Holdings, co-authored with Amy Dittmar and Jan Mahrt-Smith, Journal of Financial and Quantitative Analysis 38, 2003.
Is Corporate Diversification Beneficial in Emerging Markets, co-authored with Karl Lins, Financial Management 31, 2002.
The Cost of Diversity: The Diversification Discount and Inefficient Investment, co-authored with Raghuram Rajan and Luigi Zingales, Journal of Finance 55, 2000.
The Determinants of Mutual Fund Starts, co-authored with Ajay Khorana, Review of Financial Studies 12, 1999.
International Evidence on the Value of Corporate Diversification, co-authored with Karl Lins, Journal of Finance 54, 1999.
Analyst Following of Initial Public Offerings, co-authored with Raghuram Rajan, Journal of Finance 52, 1997. Abstract published in Journal of Finance 52, 1997.
The Value of Diversification during the Conglomerate Merger Wave, Journal of Finance 51, 1996. Abstract published in Journal of Finance 51, 1996.
The Role of Investment Banks in Acquisitions, co-authored with Marc Zenner, Review of Financial Studies 9, 1996.
Equity Ownership and the Two Faces of Debt, co-authored with John McConnell, Journal of Financial Economics 39, 1995.
Taxes and the Returns to Foreign Acquisitions in the U.S., co-authored with Marc Zenner, Financial Management 23, 1994.
Ownership Structure, co-authored with Marc Zenner, Finanzmarkt und Portfolio Management/Financial Markets and Portfolio Management 8, 1994.
Do Takeover Targets Overinvest?, Review of Financial Studies 7, 1994. Abstract published in Journal of Finance 48, 1993.
The Economics of Pre-Packaged Bankruptcy, co-authored with John McConnell, Journal of Applied Corporate Finance 4, 1991; reprinted in D. Chew, ed., The New Corporate Finance: Where Theory Meets Practice (McGraw-Hill), 1993; reprinted in Jagdeep S. Bhandari and Lawrence A. Weiss, eds., Corporate Bankruptcy: Economic and Legal Perspectives Cambridge University Press), 1996; reprinted in Journal of Applied Corporate Finance 35, 2023.
What do we know about Corporate Performance and Ownership Structure?, co-authored with John McConnell, in. R.P. Chang and G. Rhee, eds., Pacific Basin Capital Markets Research: Volume II, 1991.
Tobin's Q and the Gains from Takeovers, Journal of Finance 46, 1991.
Additional Evidence on Equity Ownership and Corporate Value, co-authored with John McConnell, Journal of Financial Economics 27, 1990.
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