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This report is the first known stocktaking of its kind to provide a regional overview of state-owned enterprise (SOE) governance reforms and challenges across the Southern African Development Community (SADC) region. Part One summarises the challenges and governance practices related to...
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Having been introduced in the European Union and in many other countries, the equal opportunity rule is seen as protecting investors in the event of a transfer of control. This rule should be analyzed in a context of appropriation of private benefits between the new controlling shareholders and...
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receiving a successful takeover bid is sharply higher when target CEOs are close to age 65. Takeover premiums and target …
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While there is widespread concern that target CEO retention by a private equity acquirer can result in a lower premium for target shareholders because of the potential conflict of interest of the CEO, it is also possible that target shareholders could benefit from CEO retention because it can...
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With the removal of statute-based anti-takeover provisions during the aftermath of Asian crisis, a significant number … firm-level anti-takeover provisions (ATP) vary over time (making firm fixed effects regression feasible) and its amendment …. Using a sample during 1999-2009, we find that firms with charter-based anti-takeover provisions are smaller in size, have …
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Shareholder voting on corporate acquisitions is controversial. In most countries acquisition decisions are delegated to boards and shareholder approval is discretionary, which makes existing empirical studies inconclusive. We study the U.K. setting where shareholder approval is imposed...
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