Marc Deloof

University of Antwerp

Professor of Finance

Prinsstraat 13

Faculteit TEW

Antwerpen, 2000

Belgium

http://https://www.uantwerpen.be/en/staff/marc-deloof/

Antwerp Management School

Het Brantijser

Sint-Jacobsmarkt 9-13

Antwerp, 2000

Belgium

SCHOLARLY PAPERS

36

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9,394

CITATIONS
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Top 11,068

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37

Scholarly Papers (36)

1.

The Valuation of Ipos by Investment Banks and the Stock Market: Empirical Evidence

EFMA 2002 London Meetings; EFA 2002 Berlin Meetings Discussion Paper
Number of pages: 29 Posted: 28 Jan 2002
Vlerick Business School, University of Antwerp and Ghent University - Department of Economics
Downloads 2,877 (3,785)
Citation 1

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Company Valuation, Investment Banks, Initial Public Offering

2.

Earnings Management within Multinational Corporations

The Accounting Review, Forthcoming
Number of pages: 99 Posted: 04 May 2010 Last Revised: 22 Aug 2018
Catholic University of Lille - IESEG School of Management, London School of Economics, University of Antwerp and Maastricht Accounting and Auditing Research and Education Center (MARC)
Downloads 1,734 (8,888)
Citation 2

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Earnings management, Multinational corporations, Subsidiaries, Consolidation, Regulatory arbitrage, Enforcement, Regulation

3.

Why Do Holding Companies Trade at a Discount? A Clinical Study (*)

Number of pages: 37 Posted: 27 Jan 2004
An Rommens, Marc Deloof and Marc Jegers
University of Antwerp, University of Antwerp and Free University of Brussels (VUB) - Micro-Economics for Profit and Non Profit Sector (MICE)
Downloads 1,709 (9,124)
Citation 2

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holding companies, closed-end fund discount, pyramidal groups, private benefits, case study

4.

The Debt Maturity Structure of Small Firms in a Creditor Oriented Environment

EFMA 2003 Helsinki Meetings
Number of pages: 26 Posted: 25 Jun 2003
Dries Heyman, Marc Deloof and Hubert Ooghe
Ghent University-Universiteit Gent - Department of Financial Economics, University of Antwerp and Vlerick Business School
Downloads 413 (68,332)
Citation 3

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debt maturity, capital structure, small firms

5.

Headquarters–Subsidiary Interdependencies and the Design of Performance Evaluation and Reward Systems in Multinational Enterprises

European Accounting Review Forthcoming
Number of pages: 50 Posted: 07 Aug 2009 Last Revised: 04 Oct 2012
Yan Du, Marc Deloof and Ann Jorissen
EDHEC Business School, University of Antwerp and University of Antwerp - Department of Accounting & Finance
Downloads 351 (82,691)

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headquarters–subsidiary interdependencies, performance evaluation and rewards, control systems, multinational enterprises

6.

Determinants of Corporate Financial Disclosure in an Unregulated Environment: Evidence from the Early 20th Century

European Accounting Review, Forthcoming
Number of pages: 48 Posted: 02 Mar 2008 Last Revised: 07 Jan 2009
affiliation not provided to SSRN, Maastricht Accounting and Auditing Research and Education Center (MARC) and University of Antwerp
Downloads 301 (98,081)

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financial disclosure, financial reporting regulation, investor protection, bank relationships, pre-World War I Belgium

7.

Long Run Stock Returns: Evidence from Belgium 1838-2010

Number of pages: 30 Posted: 04 Oct 2012
Jan Annaert, Frans Buelens and Marc Deloof
University of Antwerp Department of Accounting & Finance, University of Antwerp and University of Antwerp
Downloads 260 (114,632)
Citation 1

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long run stock returns, equity premium, size effect, 19th and 20th centuries, Brussels stock exchange

8.

Earnings Management in Business Groups: Tax Incentives or Expropriation Concealment?

Number of pages: 43 Posted: 26 Jul 2006 Last Revised: 11 Dec 2013
Christof Beuselinck and Marc Deloof
Catholic University of Lille - IESEG School of Management and University of Antwerp
Downloads 252 (118,488)

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business groups; earnings management; marginal tax rate; ownership structure

Do Universal Banks Create Value? Universal Bank Affiliation and Company Performance in Belgium, 1905-1909

Number of pages: 43 Posted: 08 Feb 2007
affiliation not provided to SSRN, University of Antwerp Department of Accounting & Finance, University of Antwerp - Faculty of Applied Economics - City Campus and University of Antwerp
Downloads 235 (126,625)
Citation 8

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Universal Banking, Company Performance, Company Risk, Director Interlocks

Do Universal Banks Create Value? Universal Bank Affiliation and Company Performance in Belgium, 1905-1909

Explorations in Economic History, Forthcoming
Posted: 17 Sep 2008
affiliation not provided to SSRN, University of Antwerp Department of Accounting & Finance, University of Antwerp - Faculty of Applied Economics - City Campus and University of Antwerp

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Company Performance, Company Risk, Universal Banks, Director Interlocks

10.

Who's Afraid of Universal Banks? Bank Affiliations and Corporate Dividend Policy in Pre-World War I Belgium

EFA 2007 Ljubljana Meetings Paper
Number of pages: 49 Posted: 21 Feb 2007
University of Antwerp, University of Antwerp and affiliation not provided to SSRN
Downloads 181 (162,564)
Citation 4

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Dividend policy, universal banks, bank directors, investor protection, pre-World War I Belgium

11.

Who's Afraid of Foreigners? Religion, Trust, and Directors in Multinational Corporations

Number of pages: 39 Posted: 22 Dec 2006
Marc Deloof and Catherine Campo
University of Antwerp and Independent
Downloads 169 (172,777)

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religion, trust, national culture, multinational corporations, subsidiary control, board of directors

12.

Were Modern Capital Structure Theories Valid Before World War I?

Number of pages: 37 Posted: 21 Feb 2007
Marc Deloof and Wouter Van Overfelt
University of Antwerp and affiliation not provided to SSRN
Downloads 163 (178,222)
Citation 1

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capital structure, corporate income tax, investor protection, bank relationships, universal banks

13.

Business Elites, Political Connections, and Economic Entrenchment: Evidence from Belgium 1858-1909

Number of pages: 44 Posted: 07 Jan 2010
University of Antwerp, affiliation not provided to SSRN and University of Antwerp
Downloads 161 (180,071)

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business elites, political connections, nobility, economic entrenchment, resource dependency, first and second industrial revolution, pre-World War I Belgium

14.

Is Group Affiliation Profitable in Developed Countries? Not in Belgium

Number of pages: 32 Posted: 21 Feb 2005
An Buysschaert, Marc Deloof and Marc Jegers
Vrije Universiteit Brussel (VUB) - Micro-economics for Profit and Non Profit Sector (MICE), University of Antwerp and Free University of Brussels (VUB) - Micro-Economics for Profit and Non Profit Sector (MICE)
Downloads 151 (190,151)
Citation 1

Abstract:

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business groups, internal capital markets, company performance

15.

The Value of Stable Ownership During the Global Financial Crisis

Number of pages: 42 Posted: 05 May 2013
Andy Lardon, Christof Beuselinck and Marc Deloof
University of Antwerp, Catholic University of Lille - IESEG School of Management and University of Antwerp
Downloads 118 (230,796)

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Ownership Stability, Ownership Concentration, Global Financial Crisis, Stock Returns, Idiosyncratic Risk, Investments

16.

Trade Credit and Bank Relationships: Evidence from Pre-World War I Belgium

Number of pages: 27 Posted: 18 Jan 2009
Marc Deloof and Wouter Van Overfelt
University of Antwerp and affiliation not provided to SSRN
Downloads 100 (259,420)

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Trade credit policies, accounts receivable, bank relationships, pre-World War 1 Belgium

17.

The Value of Bank Relationships: Evidence from Belgium at the Start of the Great Depression

Number of pages: 35 Posted: 07 Sep 2010
Marc Deloof and Veronique Vermoesen
University of Antwerp and University of Antwerp
Downloads 76 (307,584)

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Bank relationships, Interlocking directorships, Busy directors, Firm value, Great Depression, Belgium

18.

Dividend Growth and Return Predictability: A Long-Run Re-Examination of Conventional Wisdom

Number of pages: 65 Posted: 29 Nov 2018 Last Revised: 10 Feb 2019
Gertjan Verdickt, Jan Annaert and Marc Deloof
University of Antwerp - Department of Accounting & Finance, University of Antwerp Department of Accounting & Finance and University of Antwerp
Downloads 54 (367,029)

Abstract:

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return predictability, dividend growth predictability, equity duration, financial history

19.

The Flight Home Effect in Multinational Internal Capital Markets During the Great Recession

Paris December 2017 Finance Meeting EUROFIDAI - AFFI
Number of pages: 37 Posted: 29 May 2017
Marc Deloof and Fabiola Montalto
University of Antwerp and University of Antwerp
Downloads 45 (396,652)

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Internal capital markets, flight home effect, multinational firms, Great Recession, Italy

20.

Leases and Debt: Complements or Substitutes? Evidence from Belgian SMEs

Journal of Small Business Management, Vol. 45, No. 4, pp. 491-500, October 2007
Number of pages: 10 Posted: 28 Aug 2007
Marc Deloof, Istvan Lagaert and Ilse Verschueren
University of Antwerp, University of Antwerp - UFSIA and Vrije Universiteit Brussel (VUB)
Downloads 17 (526,863)
Citation 1
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How Do Investment Banks Value Initial Public Offerings (IPOs)?

Journal of Business Finance & Accounting, Vol. 36, Issue 1-2, pp. 130-160, January/March 2009
Number of pages: 31 Posted: 27 Apr 2009
University of Antwerp, Vlerick Business School and Ghent University - Department of Economics
Downloads 14 (565,343)
Citation 4
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How Do Investment Banks Value Initial Public Offerings (IPOs)?

Journal of Business Finance and Accounting, Vol. 36, No. 1/2, pp. 130-160, 2009
Posted: 23 Mar 2009
University of Antwerp, Vlerick Business School and Ghent University - Department of Economics

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company valuation, initial public offerings, investment banks

22.

Were Modern Capital Structure Theories Valid in Belgium Before World War I?

Journal of Business Finance & Accounting, Vol. 35, Nos. 3-4, pp. 491-515, April/May 2008
Number of pages: 25 Posted: 22 Apr 2008
Marc Deloof and Wouter Van Overfelt
University of Antwerp and affiliation not provided to SSRN
Downloads 4 (604,554)
Citation 1
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23.

Social Norms, Social Cohesion, and Corporate Governance

Corporate Governance: An International Review, Vol. 19, Issue 1, pp. 41-60, 2010
Number of pages: 20 Posted: 01 Jan 2011
Andriy Boytsun, Marc Deloof and Paul Matthyssens
affiliation not provided to SSRN, University of Antwerp and University of Antwerp
Downloads 3 (612,011)
Citation 1
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Corporate Governance, Institutions, Informal Rules, Social Norms, Social Cohesion

Is Group Affiliation Profitable in Developed Countries? Belgian Evidence

Corporate Governance: An International Review, Vol. 16, Issue 6, pp. 504-518, November 2008
Number of pages: 15 Posted: 03 Nov 2008
Vrije Universiteit Brussel (VUB) - Micro-economics for Profit and Non Profit Sector (MICE), University of Antwerp, Free University of Brussels (VUB) - Micro-Economics for Profit and Non Profit Sector (MICE) and University of Antwerp
Downloads 2 (651,297)
Citation 2
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Is Group Affiliation Profitable in Developed Countries? Belgian Evidence

Corporate Governance: An International Review, Vol. 16, No. 6
Posted: 28 Oct 2008
Vrije Universiteit Brussel (VUB) - Micro-economics for Profit and Non Profit Sector (MICE), University of Antwerp, Free University of Brussels (VUB) - Micro-Economics for Profit and Non Profit Sector (MICE) and University of Antwerp

Abstract:

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business groups, profitability, profit volatility, developed countries, internal capital markets

25.

The Recent Financial Crisis, Start‐Up Financing and Survival

Journal of Business Finance & Accounting, Vol. 45, Issue 7-8, pp. 928-951, 2018
Number of pages: 24 Posted: 03 Aug 2018
Marc Deloof and Tom R. Vanacker
University of Antwerp and Ghent University
Downloads 1 (633,452)
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credit availability, entrepreneurial finance, financial crisis, start‐up financing, survival

26.

Dividend Policies of Privately Held Companies: Stand‐Alone and Group Companies in Belgium

European Financial Management, Vol. 18, Issue 5, pp. 816-835, 2012
Number of pages: 20 Posted: 20 Oct 2012
An Rommens, Ludo Cuyvers and Marc Deloof
University of Antwerp, affiliation not provided to SSRN and University of Antwerp
Downloads 1 (633,452)
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Dividend policy, privately held companies, business groups, internal capital markets, minority shareholders, Belgium

27.

Active Boards of Directors in Foreign Subsidiaries

Corporate Governance: An International Review, Vol. 19, No. 2, pp. 153-168, 2011
Number of pages: 16 Posted: 07 Mar 2011
Yan Du, Marc Deloof and Ann Jorissen
EDHEC Business School, University of Antwerp and University of Antwerp - Department of Accounting & Finance
Downloads 1 (633,452)
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Corporate Governance, Subsidiary Governance, Board of Directors, Multinational Enterprise

Private Equity Involvement and Earnings Quality

Journal of Business Finance & Accounting, Vol. 36, Issue 5-6, pp. 587-615, June/July 2009
Number of pages: 29 Posted: 13 Oct 2009
Catholic University of Lille - IESEG School of Management, University of Antwerp and Vlerick Business School
Downloads 1 (665,095)
Citation 5
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Private Equity Involvement and Earnings Quality

Journal of Business Finance and Accounting, Vol. 36, No. 5-6, pp. 587-615, 2009
Posted: 26 Jan 2004 Last Revised: 10 Jan 2011
Catholic University of Lille - IESEG School of Management, University of Antwerp and Vlerick Business School

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Earnings quality, earnings conservatism, loss recognition timeliness, private equity

29.

Financial Reporting, Disclosure, and Corporate Governance

The Oxford handbook of Corporate Governance, Oxford University Press, 2013, Chapter 13, pp. 290-307, ISBN 9780199642007
Posted: 05 Apr 2016
Catholic University of Lille - IESEG School of Management, University of Antwerp and Vlerick Business School

Abstract:

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voluntary disclosure, information, disclosure regulations, private firms, public firms

30.

Cross-Jurisdictional Income Shifting and Tax Enforcement: Evidence from Public versus Private Multinationals

Review of Accounting Studies, Forthcoming
Posted: 13 Dec 2014
Catholic University of Lille - IESEG School of Management, University of Antwerp and Maastricht Accounting and Auditing Research and Education Center (MARC)

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tax planning, income shifting, tax enforcement, composite tax score

31.

Long-Term Debt Maturity and Financing Constraints of SMEs During the Global Financial Crisis

Small Business Economics, Forthcoming
Posted: 10 Jun 2012
University of Antwerp, University of Antwerp and University of Antwerp

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Privately held SMEs, financing constraints, long-term debt maturity, Global Financial Crisis, Belgium

32.

Financial Disclosure by SMEs Listed on a Semi-Regulated Market: Evidence from the Euronext Free Market

Small Business Economics, Vol. 42, No. 2, 2014
Posted: 07 Aug 2011 Last Revised: 08 Oct 2014
Andy Lardon and Marc Deloof
University of Antwerp and University of Antwerp

Abstract:

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Euronext Free Market, Financial disclosure regulation, Small and Medium Sized Enterprises, Firm value, Stock liquidity, Financial crisis

33.

How Does Intragroup Financing Affect Leverage? Belgian Evidence

Journal of Accounting, Auditing and Finance, Vol. 31, No. 1, Winter 2006
Posted: 08 Dec 2005
Ilse Verschueren and Marc Deloof
Vrije Universiteit Brussel (VUB) and University of Antwerp

Abstract:

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Leverage, business groups

34.

Private Equity Investments and Disclosure Policy

European Accounting Review Vol. 17, No. 4, December 2008
Posted: 11 Nov 2004 Last Revised: 10 Jan 2011
Catholic University of Lille - IESEG School of Management, University of Antwerp and Vlerick Business School

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Disclosure choice, private equity, unlisted firms, corporate governance

35.

Equity Sales in Belgian Corporate Groups: Expropriation of Minority Shareholders? A Clinical Study

Journal of Corporate Finance, Forthcoming
Posted: 22 Sep 2003
An Buysschaert, Marc Deloof and Marc Jegers
Vrije Universiteit Brussel (VUB) - Micro-economics for Profit and Non Profit Sector (MICE), University of Antwerp and Free University of Brussels (VUB) - Micro-Economics for Profit and Non Profit Sector (MICE)

Abstract:

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corporate groups, private benefits, tunneling, event study

36.

Does Working Capital Management Affect Profitability of Belgian Firms?

Journal of Business Finance and Accounting, Vol. 30, Nos. 3 & 4, 2003
Posted: 05 Aug 2003
Marc Deloof
University of Antwerp

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working capital management, trade credit policy, inventory policy, corporate profitability