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Schouten, M.C. - ESRC Centre for Business Research - 2010

In the wake of the financial crisis, shareholders are increasingly relied upon to monitor directors. But while much has been written about directors' flawed judgments, remarkably little is known about shareholders' ability to make accurate judgments. What determines whether shareholders make the...

Persistent link: https://www.econbiz.de/10010614650

What's in a name and when does it matter? The hot and cold market impacts on underpricing of certification, reputation and conflicts of interest in venture capital backed Korean IP...

Hughes, Alan; Lee, Jaeho - ESRC Centre for Business Research - 2006

brought to IPO during the period 1999-2001 in KOSDAQ. Korea's second-tier stock market, KOSDAQ, has grown dramatically since … for empirical analysis. We measure VC participation in terms of pre IPO share-ownership by VC firms and attempt to … differentiate IPO impacts between VCs grouped in terms of their reputation (measured by their dominance of the VC market, and by …

Persistent link: https://www.econbiz.de/10005813013

Applying 'Comply-or-Explain': Conformance with Codes of Corporate Governance in the UK and Germany

Seidl, David; Sanderson, Paul; Roberts, John - ESRC Centre for Business Research - 2009

The comply-or-explain principle is a central element of most codes of corporate governance. Originally put forward by the Cadbury Committee in the UK as a practical means of establishing a code of corporate governance whilst avoiding an inflexible ‘one size fits all’ approach, it has since...

Persistent link: https://www.econbiz.de/10010614644

Corporate Governance and Financial Crisis in the Long Run

Deakin, S. - ESRC Centre for Business Research - 2010

Prior to the global financial crisis which began in 2007, corporate governance reforms of the preceding thirty years had promoted a shareholder-value based model of management for which there was little historical precedent. The underlying legal model of the firm retained a vestigial sense of...

Persistent link: https://www.econbiz.de/10010614652

Law and Financial Development: What we are learning from time-series evidence

Armour, J.; Deakin, S.; Mollica, V.; Siems, M.M. - ESRC Centre for Business Research - 2010

The legal origins hypothesis is one of the most important and influential ideas to emerge in the social sciences in the past decade. However, the empirical base of the legal origins claim has always been contestable, as it largely consists of cross-sectional datasets which provide evidence on...

Persistent link: https://www.econbiz.de/10010614655

The Impact of Foreign Corporate Ownership on Downsizing and Labour Cost

Chai, D.H. - ESRC Centre for Business Research - 2010

This study examines the impact of foreign ownership on the firm's labour cost using a panel data of 496 publicly traded Korean companies during the post Asian financial crisis period of 1998-2003. It shows that foreign ownership is positively related to labour cost but this positive effect is...

Persistent link: https://www.econbiz.de/10010614658

Employee Ownership in the European Company: Reflexive Law, Reincorporation and Escaping Codetermination

Njoya, W. - ESRC Centre for Business Research - 2010

This article assesses the effects of reincorporation on codetermination, focusing on the scope for escaping codetermination by restructuring under the European Company (SE). This is usually associated with the prospect of corporate flight from codetermined jurisdictions. The article presents an...

Persistent link: https://www.econbiz.de/10010614660

An End to Consensus? The Selective Impact of Corporate Law Reform on Financial Development

Deakin, S.; Sarkar, P.; Singh, A. - ESRC Centre for Business Research - 2011

Legal origins theory suggests that law reform, strengthening shareholder and creditor rights, should enhance financial development. We use recently created datasets measuring legal change over time in a sample of 25 developing, developed and transition countries to test this claim. We find that...

Persistent link: https://www.econbiz.de/10010548032

Meanings of ownership of the firm

Learmount, Simon; Roberts, John - ESRC Centre for Business Research - 2002

The notion of 'ownership of the firm' is central to conventional treatments of corporate governance, yet there is very little discussion about what this means in practice. In this paper we briefly draw attention to some of the debates around the notion of ownership in various disciplinary...

Persistent link: https://www.econbiz.de/10005549382

Who should make corporate law? EC legislation vs regulatory competition

Armour, John - ESRC Centre for Business Research - 2005

This paper makes a case for the future development of European corporate law through regulatory competition rather than EC legislation

Persistent link: https://www.econbiz.de/10005549404