Julian R. Franks

London Business School - Institute of Finance and Accounting

Professor of Finance

Institute of Finance and Accounting

Sussex Place - Regent's Park

London NW1 4SA

United Kingdom

Centre for Economic Policy Research (CEPR)

Fellow

London

United Kingdom

European Corporate Governance Institute (ECGI)

Fellow

c/o the Royal Academies of Belgium

Rue Ducale 1 Hertogsstraat

1000 Brussels

Belgium

https://ecgi.global/

  • London Business School - Institute of Finance and Accounting

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SCHOLARLY PAPERS

38

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39,276

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317

CROSSREF CITATIONS

659

Scholarly Papers (38)

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1.

Ownership: Evolution and Regulation

Downloads 6,781 ( 1,798)
Citation 24

Ownership: Evolution and Regulation

ECGI - Finance Working Paper No. 09/2003, EFA 2004 Maastricht Meetings Paper No. 3205, AFA 2003 Washington, DC Meetings, Review of Financial Studies, Forthcoming
Number of pages: 68 Posted: 26 Jan 2004 Last Revised: 30 Jun 2008
Julian R. Franks, Colin Mayer and Stefano Rossi
London Business School - Institute of Finance and Accounting, University of Oxford - Said Business School and Bocconi University
Downloads 6,781 (1,783)
Citation 24

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Evolution, ownership, investor protection, equity issues, trust

Ownership: Evolution and Regulation

The Review of Financial Studies, Vol. 22, No. 10, pp. 4009-4056, 2009
Posted: 28 Sep 2009
Julian R. Franks, Colin Mayer and Stefano Rossi
London Business School - Institute of Finance and Accounting, University of Oxford - Said Business School and Stockholm School of Economics

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G32, G34

2.

Returns to Shareholder Activism: Evidence from a Clinical Study of the Hermes U.K. Focus Fund

ECGI - Finance Working Paper No. 138/2006, London Business School Finance Working Paper No. FIN462
Number of pages: 70 Posted: 04 Dec 2006 Last Revised: 03 Sep 2023
Marco Becht, Julian R. Franks, Colin Mayer and Stefano Rossi
Solvay Brussels School of Economics and Management (ULB), London Business School - Institute of Finance and Accounting, University of Oxford - Said Business School and Bocconi University
Downloads 5,853 (2,304)
Citation 23

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Shareholder activism, institutional investors, real authority

3.

Returns to Hedge Fund Activism: An International Study

Downloads 4,027 ( 4,379)
Citation 63

Returns to Hedge Fund Activism: An International Study

Review of Financial Studies, Forthcoming, European Corporate Governance Institute (ECGI) - Finance Working Paper No. 402/2014
Number of pages: 59 Posted: 11 Jan 2014 Last Revised: 16 Apr 2023
Marco Becht, Julian R. Franks, Jeremy Grant and Hannes F. Wagner
Solvay Brussels School of Economics and Management (ULB), London Business School - Institute of Finance and Accounting, London School of Economics and Bocconi University - Department of Finance
Downloads 4,025 (4,301)
Citation 71

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Shareholder activism, hedge funds, active ownership, institutional investors

The Returns to Hedge Fund Activism: An International Study

CEPR Discussion Paper No. DP10507
Number of pages: 66 Posted: 24 Mar 2015
Marco Becht, Julian R. Franks, Jeremy Grant and Hannes F. Wagner
Solvay Brussels School of Economics and Management (ULB), London Business School - Institute of Finance and Accounting, London School of Economics and Bocconi University - Department of Finance
Downloads 2 (1,053,873)
Citation 1
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active ownership, hedge funds, institutional investors, shareholder activism

4.

Do Bankruptcy Codes Matter? A Study of Defaults in France, Germany and the UK

EFA 2005 Moscow Meetings Paper, ECGI - Finance Working Paper No. 89/2005, WFA 2005 Portland Meetings Paper, AFA 2005 Philadelphia Meetings Paper
Number of pages: 45 Posted: 05 Jan 2005
Sergei Davydenko and Julian R. Franks
University of Toronto - Finance Area and London Business School - Institute of Finance and Accounting
Downloads 2,764 (8,093)
Citation 97

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Recovery rate, Default, Reorganization, Bankruptcy code

5.

Hedge Fund Activism in Europe

ECGI - Finance Working Paper No. 283/2010
Number of pages: 47 Posted: 09 Jun 2010
Marco Becht, Julian R. Franks and Jeremy Grant
Solvay Brussels School of Economics and Management (ULB), London Business School - Institute of Finance and Accounting and University of Cambridge
Downloads 2,410 (10,038)
Citation 35

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Shareholder Activism, Hedge Funds, Active Ownership, Institutional Investors

6.

Ownership and Control of German Corporations

Downloads 1,938 (14,283)
Citation 168

Ownership and Control of German Corporations

Number of pages: 62 Posted: 29 Dec 2000
Julian R. Franks and Colin Mayer
London Business School - Institute of Finance and Accounting and University of Oxford - Said Business School
Downloads 1,886 (14,660)
Citation 28

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Ownership, control, board turnover, pyramiding, bank control, takeovers

Ownership and Control of German Corporations

Number of pages: 63 Posted: 09 Aug 2001
Julian R. Franks and Colin Mayer
London Business School - Institute of Finance and Accounting and University of Oxford - Said Business School
Downloads 52 (637,981)
Citation 12
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Ownership, control, board turnover, pyramiding, bank control, takeovers

Ownership and Control of German Corporations

Review of Financial Studies, Vol. 14, Issue 4, pp. 943-977, 2001
Posted: 29 Feb 2008
Julian R. Franks and Colin Mayer
London Business School - Institute of Finance and Accounting and University of Oxford - Said Business School

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Ownership and Control of German Corporations

Posted: 15 Aug 2001
Julian R. Franks and Colin Mayer
London Business School - Institute of Finance and Accounting and University of Oxford - Said Business School

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7.

The Life Cycle of Family Ownership: International Evidence

EFA 2009 Bergen Meetings Paper, AFA 2009 San Francisco Meetings Paper, Paris December 2011 Finance Meeting EUROFIDAI - AFFI
Number of pages: 68 Posted: 06 Mar 2008 Last Revised: 25 Oct 2011
Julian R. Franks, Colin Mayer, Paolo F. Volpin and Hannes F. Wagner
London Business School - Institute of Finance and Accounting, University of Oxford - Said Business School, Drexel University - Bennett S. LeBow College of Business and Bocconi University - Department of Finance
Downloads 1,758 (16,612)
Citation 19

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ownership, family firms, life cycle, corporate performance

8.

Spending Less Time with the Family: The Decline of Family Ownership in the UK

Downloads 1,494 (21,361)
Citation 33

Spending Less Time with the Family: The Decline of Family Ownership in the UK

Number of pages: 41 Posted: 26 Jan 2004
Julian R. Franks, Colin Mayer and Stefano Rossi
London Business School - Institute of Finance and Accounting, University of Oxford - Said Business School and Bocconi University
Downloads 1,412 (22,827)
Citation 13

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Family ownership, control, takeovers

Spending Less Time with the Family: The Decline of Family Ownership in the UK

NBER Working Paper No. w10628
Number of pages: 39 Posted: 04 Aug 2004 Last Revised: 16 Jan 2022
Julian R. Franks, Colin Mayer and Stefano Rossi
London Business School - Institute of Finance and Accounting, University of Oxford - Said Business School and Bocconi University
Downloads 82 (499,176)
Citation 17

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9.

The Origins of the German Corporation - Finance, Ownership and Control

ECGI - Finance Working Paper No. 110/2005, AFA 2006 Boston Meetings Paper, EFA 2005 Moscow Meetings Paper, Review of Finance, Vol. 10, No. 4, pp. 537-585, 2006
Number of pages: 60 Posted: 23 Mar 2005 Last Revised: 25 Jun 2008
Julian R. Franks, Colin Mayer and Hannes F. Wagner
London Business School - Institute of Finance and Accounting, University of Oxford - Said Business School and Bocconi University - Department of Finance
Downloads 1,471 (21,890)
Citation 16

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Evolution of ownership, German stock markets, financial regulation

10.

The Benefits of Access: Evidence from Private Meetings with Portfolio Firms

Downloads 1,245 (27,998)

The Benefits of Access: Evidence from Private Meetings with Portfolio Firms

European Corporate Governance Institute – Finance Working Paper No. 751/2021
Number of pages: 64 Posted: 21 Apr 2021 Last Revised: 03 May 2023
Marco Becht, Julian R. Franks and Hannes F. Wagner
Solvay Brussels School of Economics and Management (ULB), London Business School - Institute of Finance and Accounting and Bocconi University - Department of Finance
Downloads 1,245 (27,535)

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active investors, trading, institutional investors, corporate governance, stewardship, active ownership, shareholder voting, analysts, fund managers

The Benefits of Access: Evidence from Private Meetings with Portfolio Firms

CEPR Discussion Paper No. DP16337
Number of pages: 68 Posted: 14 Jul 2021
Marco Becht, Julian R. Franks and Hannes F. Wagner
Solvay Brussels School of Economics and Management (ULB), London Business School - Institute of Finance and Accounting and Bocconi University - Department of Finance
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11.

Corporate Governance Through Voice and Exit

European Corporate Governance Institute – Finance Working Paper No. 633/2019
Number of pages: 75 Posted: 09 Oct 2019 Last Revised: 12 Nov 2022
Marco Becht, Julian R. Franks and Hannes F. Wagner
Solvay Brussels School of Economics and Management (ULB), London Business School - Institute of Finance and Accounting and Bocconi University - Department of Finance
Downloads 1,234 (28,372)
Citation 6

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asset management, active ownership, corporate stewardship, shareholder monitoring, shareholder engagement, analyst research, institutional investors, corporate governance, voice and exit

12.

Resolving Financial Distress by Way of a Contract: An Empirical Study of Small UK Companies

Number of pages: 60 Posted: 22 Jul 2000
Julian R. Franks and Oren Sussman
London Business School - Institute of Finance and Accounting and European Corporate Governance Institute (ECGI)
Downloads 1,108 (33,120)
Citation 10

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Bankruptcy

13.

Evolution of Ownership and Control Around the World: The Changing Face of Capitalism

Downloads 1,038 (36,324)
Citation 5

Evolution of Ownership and Control Around the World: The Changing Face of Capitalism

European Corporate Governance Institute (ECGI) - Finance Working Paper No. 503/2017
Number of pages: 51 Posted: 02 May 2017 Last Revised: 03 May 2017
Julian R. Franks and Colin Mayer
London Business School - Institute of Finance and Accounting and University of Oxford - Said Business School
Downloads 856 (46,869)
Citation 3

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Ownership, control, trust, stock markets

Evolution of Ownership and Control Around the World: The Changing Face of Capitalism

Saïd Business School WP 2017-08
Number of pages: 46 Posted: 16 Jun 2017
Julian R. Franks and Colin Mayer
London Business School - Institute of Finance and Accounting and University of Oxford - Said Business School
Downloads 182 (273,366)
Citation 1

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Ownership, Control, Trust, Stock Markets

14.

Marketplace Lending, Information Aggregation, and Liquidity

European Corporate Governance Institute – Finance Working Paper No. 678/2020, Review of Financial Studies (Forthcoming)
Number of pages: 70 Posted: 16 Nov 2016 Last Revised: 11 May 2020
Julian R. Franks, Nicolas Andre Benigno Serrano-Velarde and Oren Sussman
London Business School - Institute of Finance and Accounting, Bocconi University and European Corporate Governance Institute (ECGI)
Downloads 727 (59,312)
Citation 16

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Auctions, Liquidity, Fintech, Market Design, Information Aggregation

15.

Evidence on Debt Overhang from Distressed Equity Issues

EFA 2005 Moscow Meetings Paper
Number of pages: 43 Posted: 14 Aug 2006
Julian R. Franks and Sergey V. Sanzhar
London Business School - Institute of Finance and Accounting and affiliation not provided to SSRN
Downloads 699 (62,473)
Citation 16

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Debt overhang, distress, wealth transfers

16.

The Ownership of Japanese Corporations in the 20th Century

European Corporate Governance Institute (ECGI) - Finance Working Paper No. 410/2014
Number of pages: 80 Posted: 22 Feb 2014
Julian R. Franks, Colin Mayer and Hideaki Miyajima
London Business School - Institute of Finance and Accounting, University of Oxford - Said Business School and Waseda University - Graduate School of Commerce
Downloads 528 (88,923)
Citation 12

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Japan, corporate ownership, insider system, trust, investor protection

17.

Do Market Prices Improve the Accuracy of Court Valuations in Chapter 11?

Finance Down Under 2017 Building on the Best from the Cellars of Finance, European Corporate Governance Institute – Finance Working Paper No. 655/2020, Forthcoming Journal of Finance
Number of pages: 62 Posted: 24 Nov 2015 Last Revised: 18 Oct 2021
Cem Demiroglu, Julian R. Franks and Ryan Lewis
Koc University, College of Administrative Sciences and Economics, London Business School - Institute of Finance and Accounting and University of Colorado, Boulder
Downloads 518 (91,044)

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Bankruptcy, Chapter 11, TRACE, Transparency, Bond, Dissemination

18.

Does Paying Passive Managers to Engage Improve ESG Performance?

European Corporate Governance Institute – Finance Working Paper No. 922/2023
Number of pages: 66 Posted: 11 Jul 2023 Last Revised: 21 Sep 2023
Marco Becht, Julian R. Franks, Hideaki Miyajima and Kazunori Suzuki
Solvay Brussels School of Economics and Management (ULB), London Business School - Institute of Finance and Accounting, Waseda University - Graduate School of Commerce and Waseda University, Graduate School of Business and Finance
Downloads 498 (95,498)

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ESG, active ownership, investor stewardship, engagement, ESG indexes, passive managers, portfolio tilting

19.

The Privatization of Bankruptcy: Evidence from Financial Distress in the Shipping Industry

European Corporate Governance Institute (ECGI) - Finance Working Paper No. 505/2017
Number of pages: 62 Posted: 07 Dec 2016 Last Revised: 15 Apr 2020
Julian R. Franks, Gunjan Seth, Oren Sussman and Vikrant Vig
London Business School - Institute of Finance and Accounting, London Business School, European Corporate Governance Institute (ECGI) and London Business School
Downloads 394 (125,844)
Citation 4

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Bankruptcy, Shipping, Freedom of Contracting, Fire Sales

20.

A Study of Inefficient Going Concerns in Bankruptcy

Downloads 382 (130,370)
Citation 6

A Study of Inefficient Going Concerns in Bankruptcy

AFA 2006 Boston Meetings Paper
Number of pages: 45 Posted: 26 Mar 2005
Julian R. Franks and Gyongyi Loranth
London Business School - Institute of Finance and Accounting and Centre for Economic Policy Research (CEPR)
Downloads 358 (139,086)
Citation 12

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G21, G30, G33

A Study of Inefficient Going Concerns in Bankruptcy

CEPR Discussion Paper No. 5035
Number of pages: 48 Posted: 13 Sep 2005
Julian R. Franks and Gyongyi Loranth
London Business School - Institute of Finance and Accounting and Centre for Economic Policy Research (CEPR)
Downloads 24 (840,987)
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Allocation of control rights, bankruptcy code, compensation, recovery rates

21.

Outsourcing Active Ownership in Japan

European Corporate Governance Institute – Finance Working Paper No. 766/2021
Number of pages: 39 Posted: 11 Jun 2021
Marco Becht, Julian R. Franks, Hideaki Miyajima and Kazunori Suzuki
Solvay Brussels School of Economics and Management (ULB), London Business School - Institute of Finance and Accounting, Waseda University - Graduate School of Commerce and Waseda University, Graduate School of Business and Finance
Downloads 345 (145,891)
Citation 1

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Corporate Governance, Active Ownership, Investor Stewardship, Private Engagement, Hedge Fund Activism, Corporate Governance Code

22.

Institutional Ownership and Governance

European Corporate Governance Institute – Finance Working Paper No. 656/2020
Number of pages: 23 Posted: 12 Feb 2020 Last Revised: 13 Feb 2020
Julian R. Franks
London Business School - Institute of Finance and Accounting
Downloads 336 (150,022)
Citation 5

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shareholder activism, institutional ownership, governance, institutional activism

23.

Equity Markets and Institutions: The Case of Japan

AFA 2010 Atlanta Meetings Paper
Number of pages: 48 Posted: 23 Mar 2009
Julian R. Franks, Colin Mayer and Hideaki Miyajima
London Business School - Institute of Finance and Accounting, University of Oxford - Said Business School and Waseda University - Graduate School of Commerce
Downloads 319 (158,577)
Citation 5

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Japan, corporate ownership, equity, investor protection, institutions

24.

Governance as a Source of Managerial Discipline

National Bank of Belgium Working Paper No. 31
Number of pages: 34 Posted: 15 Oct 2010
Julian R. Franks and Colin Mayer
London Business School - Institute of Finance and Accounting and University of Oxford - Said Business School
Downloads 281 (181,125)
Citation 8

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25.

Decomposing Fire Sale Discounts

European Corporate Governance Institute – Finance Working Paper No. 722/2021
Number of pages: 74 Posted: 12 Jan 2021 Last Revised: 16 May 2022
Julian R. Franks, Gunjan Seth, Oren Sussman and Vikrant Vig
London Business School - Institute of Finance and Accounting, London Business School, European Corporate Governance Institute (ECGI) and London Business School
Downloads 247 (205,939)

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fire sale, bankruptcy, under maintenance

26.

Comment on 'The Political Economy of Finance' (by Enrico Perotti)

Capitalism and Society, Vol. 9, No. 1, Article 3, 2014
Number of pages: 5 Posted: 22 Apr 2014
Julian R. Franks
London Business School - Institute of Finance and Accounting
Downloads 246 (206,779)

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27.

A Study of Inefficient Going Concerns in Bankrupty

Number of pages: 46 Posted: 04 Mar 2005
Julian R. Franks and Gyongyi Loranth
London Business School - Institute of Finance and Accounting and Centre for Economic Policy Research (CEPR)
Downloads 165 (297,672)

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Bankruptcy code, control rights, recovery rates

28.

Means of Payment in Takeovers: Results for the U.K. And U.S

NBER Working Paper No. w2456
Number of pages: 69 Posted: 06 Apr 2007 Last Revised: 20 Mar 2022
Robert S. Harris, Julian R. Franks and Colin Mayer
University of Virginia - Darden School of Business, London Business School - Institute of Finance and Accounting and University of Oxford - Said Business School
Downloads 143 (334,981)
Citation 1

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29.

Who Disciplines Management in Poorly Performing Companies?

Downloads 124 (373,622)
Citation 14

Who Disciplines Management in Poorly Performing Companies?

Number of pages: 47 Posted: 12 Sep 2001
Julian R. Franks, Colin Mayer and Luc Renneboog
London Business School - Institute of Finance and Accounting, University of Oxford - Said Business School and Tilburg University - Department of Finance
Downloads 124 (375,013)
Citation 14
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Board turnover, control, corporate governance, regulation, restructuring

Who Disciplines Management in Poorly Performing Companies?

Posted: 27 Apr 2000
Julian R. Franks, Colin Mayer and Luc Renneboog
London Business School - Institute of Finance and Accounting, University of Oxford - Said Business School and Tilburg University - Department of Finance

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Who Disciplines Management in Poorly Performing Companies?

Posted: 14 Jul 2003
Julian R. Franks, Colin Mayer and Luc Renneboog
London Business School - Institute of Finance and Accounting, University of Oxford - Said Business School and Tilburg University - Department of Finance

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30.

Financial Distress and Bank Restructuring of Small to Medium Size UK Companies

Number of pages: 47 Posted: 24 Jul 2003
Julian R. Franks and Oren Sussman
London Business School - Institute of Finance and Accounting and European Corporate Governance Institute (ECGI)
Downloads 110 (407,774)
Citation 7
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Bankruptcy, bank lending, collateral, liquidation rights

31.

The Origination and Evolution of Ownership and Control

Number of pages: 44 Posted: 06 May 2003
Julian R. Franks, Colin Mayer and Stefano Rossi
London Business School - Institute of Finance and Accounting, University of Oxford - Said Business School and Bocconi University
Downloads 51 (631,095)
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Ownership, control, stock markets, investor protection

32.

Resolving financial distress where property rights are not clearly defined: the case of China

LawFin Working Paper No. 49
Number of pages: 47 Posted: 27 Feb 2023
Oren Sussman, Julian R. Franks and Meng Miao
European Corporate Governance Institute (ECGI), London Business School - Institute of Finance and Accounting and Renmin University of China-School of Finance
Downloads 42 (683,407)

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Finance and development, property rights, financial distress, creditors runs

33.

Indexation, Investment, and Utility Prices

Oxford Review of Economic Policy, Vol. 25, Issue 3, pp. 435-450, 2009
Posted: 08 Dec 2009
Richard A. Brealey and Julian R. Franks
London Business School and London Business School - Institute of Finance and Accounting

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cost of capital, regulation, indexation, G31, G38, L51

34.

Returns to Shareholder Activism: Evidence from a Clinical Study of the Hermes UK Focus Fund

The Review of Financial Studies, Vol. 22, Issue 8, pp. 3093-3129, 2009
Posted: 05 Aug 2009
Marco Becht, Julian R. Franks, Colin Mayer and Stefano Rossi
Solvay Brussels School of Economics and Management (ULB), London Business School - Institute of Finance and Accounting, University of Oxford - Said Business School and Bocconi University

Abstract:

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G32

35.

Hostile Takeovers in the UK and the Correction of Managerial Failure

London Business School Institute of Finance and Accounting Working Paper 156-1995
Posted: 26 Aug 1998
Julian R. Franks and Colin Mayer
London Business School - Institute of Finance and Accounting and University of Oxford - Said Business School

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36.

Underpricing, Ownership and Control in Initial Public Offerings of Equity Securities in the UK

London Business School Institute of Finance and Accounting Working Paper 209-1995
Posted: 25 Aug 1998
Michael J. Brennan and Julian R. Franks
University of California, Los Angeles (UCLA) - Finance Area and London Business School - Institute of Finance and Accounting

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37.

A Comparison of Us, UK and German Insolvency Codes

London Business School Institute of Finance and Accounting Working Paper 206
Posted: 09 Jul 1998
Kjell G. Nyborg, Julian R. Franks and Walter N. Torous
University of Zurich - Department of Banking and Finance, London Business School - Institute of Finance and Accounting and Massachusetts Institute of Technology

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38.

Control Rights, Debt Structure, and the Loss of Private Benefits: The Case of the UK Insolvency Code

REVIEW OF FINANCIAL STUDIES, Vol. 9 No. 4
Posted: 27 Apr 1998
Julian R. Franks and Kjell G. Nyborg
London Business School - Institute of Finance and Accounting and University of Zurich - Department of Banking and Finance

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