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Royal Ahold (Koninklijke Ahold NV) was one of the major success stories in the 1990s and is one of the major failures, suffering a complete meltdown, in 2003.We investigate the strategy, accounting transparency and corporate governance of Ahold; elements which jointly drive the firm s performance...
Persistent link: https://www.econbiz.de/10011091014
The purpose of this paper is to gather evidence on the success of market forces in promoting investor interests through self-regulation.Corporate governance is a complex mechanism design problem that is both economic and legal/political based.As such there is great interest in whether (and when)...
Persistent link: https://www.econbiz.de/10011091306
Companies are sometimes accused of misleading the market. The SEC can punish this with enforcement actions. Alternatively, shareholders can seek redress through a shareholder class action (SCA). While some literature has examined SEC actions, it has not examined SCAs, and has not examined...
Persistent link: https://www.econbiz.de/10011092569
, proposes an exhaustive and consistent measure of applied, preferential tariff protection in 2007. The methodology, similar to … computing ad valorem equivalents of tariff protection, and when computing averages at aggregate levels. The world average … applied protection level in 2007 is estimated to be 4.4%. Compared to 2004, this is a decline by nearly 0.7 percentage point …
Persistent link: https://www.econbiz.de/10010604044
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This paper (1) proposes new variables to detect informed high-frequency trading (HFT), (2) shows that HFT can help to predict takeover targets, and (3) shows that HFT in uences target announcement announcement returns. Prior literature suggests that informed trade may occur before takeovers, but...
Persistent link: https://www.econbiz.de/10011091603