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We study the determinants of private benefits of control in negotiated block transactions. We estimate the block pricing model in Burkart, Gromb, and Panunzi (2000) explicitly dealing with the existence of both block premia and block discounts in the data. We find evidence that the occurrence of...
Persistent link: https://www.econbiz.de/10003962033
Are individuals expected utility maximizers? This question represents much more than academic curiosity. In a normative … utility maximization paradigm literally the only game in town. In this study, we advance the literature by exploring CEO … that both our CEO and student subject pools exhibit frequent and large departures from expected utility theory. In addition …
Persistent link: https://www.econbiz.de/10013150437
Are individuals expected utility maximizers? This question represents much more than academic curiosity. In a normative … utility maximization paradigm literally the only game in town. In this study, we advance the literature by exploring CEO … that both our CEO and student subject pools exhibit frequent and large departures from expected utility theory. In addition …
Persistent link: https://www.econbiz.de/10012463196
Persistent link: https://www.econbiz.de/10011905973
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Multi-national corporations (MNCs) are constantly undergoing a process of standardisation and reorganisation (S&R), which is fuelled by the rapid development of information technology (IT). These developments require an in-depth and systematic inquiry as they have serious ramifications for...
Persistent link: https://www.econbiz.de/10014033339
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After the corporate scandals in the 90s, corporate governance codes were drafted and implemented in national laws and regulations. Unfortunately, due to an ongoing supply of new financial scandals and societal deceptions, our society increasingly distrusts executive directors, non-executive...
Persistent link: https://www.econbiz.de/10013070036
The International Standards Organisation's ISO 26000 on social responsibility supports organisations of all types and sizes in their responsibilities towards society and the environment. ISO 26000 recommends that organisations ought to follow its principles on accountability, transparency,...
Persistent link: https://www.econbiz.de/10012931783