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Corporate governance is concerned with the resolution of collective action problems among dispersed investors and the reconciliation of conflicts of interest between various corporate claimholders. In this survey we review the theoretical and empirical research on the main mechanisms of...
Persistent link: https://www.econbiz.de/10014023875
This chapter documents the evolution of ownership and control of firms around the world over a hundred year period from … stock markets and contrasts these with the persistent patterns of ownership that are observed in many countries around the … world. In particular, it documents the growth in dispersion in ownership that took place in many countries from the early …
Persistent link: https://www.econbiz.de/10014023371
Persistent link: https://www.econbiz.de/10012025445
Pragmatic and effective research on corporate governance often turns critically on appreciating the legal institutions surrounding corporate entities—yet such nuances are often unfamiliar or poorly specified to economists and other social scientists without legal training. This chapter...
Persistent link: https://www.econbiz.de/10014023367
Persistent link: https://www.econbiz.de/10012430737
Corporate law in advanced domestic legal systems on the one hand, and typical treaties for the protection of foreign investment on the other hand, treat claims for damages by company shareholders differently. Advanced domestic systems generally bar shareholders from claiming for reflective loss...
Persistent link: https://www.econbiz.de/10010463416
In the last dozen years, economists have produced a considerable body of research suggesting that the historical origin of a country’s laws is highly correlated with a broad range of its legal rules and regulations, as well as with economic outcomes. Much of this research has dealt with rules...
Persistent link: https://www.econbiz.de/10014025558
means that concentrated ownership at company level has become the dominant form of ownership in listed companies worldwide …
Persistent link: https://www.econbiz.de/10009775539
compare them against their year-industry-size-matched firms (control group) before and after the ownership change. Difference …
Persistent link: https://www.econbiz.de/10010355189
This paper provides a framework for analysing the character and degree of ownership engagement by institutional … of ownership engagement. It is therefore an evasive “shorthand” for policy discussions about ownership engagement. The … reason is that there are large differences in ownership engagement between different categories of institutional investors …
Persistent link: https://www.econbiz.de/10010233693