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The Effect of Board Structure on Bidder-Shareholders' Wealth: Further Evidence from the UK Bidding Firms

Constantinou, Charalambos Th.; Constantinou, Costas Th. - ESRC Centre for Business Research - 2003

In this study we provide evidence of cross-sectional dependence of bidder-shareholder wealth and target’s board characteristics. More specifically we provide evidence that the percentage of non-executives, the board size, the stock holdings of executives, and the other directorships held by...

Persistent link: https://www.econbiz.de/10005162855

Shareholder Primacy and the Trajectory of UK Corporate Governance

Armour, John; Deakin, Simon; Konzelmann, Suzanne J. - ESRC Centre for Business Research - 2003

Core institutions of UK corporate governance, in particular those relating to takeovers, board structure and directors’ duties, are strongly orientated towards a norm of shareholder primacy. Beyond the core, in particular at the intersection of insolvency and employment law, stakeholder...

Persistent link: https://www.econbiz.de/10005687992

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

The Mechanism of Voting Efficiency

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

on estimated values: stock trading. Using insights on stock market efficiency, the paper makes three contributions to our … understanding of voting efficiency. First, the paper identifies four key mechanisms of voting efficiency: (1) informed voting, which … efficiency. In practice, however, they are subject to cost constraints as well as legal constraints. The limits of voting …

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

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

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

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

Institutional Transplant and American Corporate Governance: The case of Ferodyn

Konzelmann, Suzanne - ESRC Centre for Business Research - 2002

This paper examines the relationship between employment relations and American corporate governance using the case of Ferodyn*. In response to difficult industry conditions and sagging performance, American-owned Landis* Steel Corporation and Japanese-owned Daiichi* Steel Corporation jointly...

Persistent link: https://www.econbiz.de/10005549419

Anglo-American corporate governance and the employment relationship: a case to answer?

Deakin, Simon; Hobbs, Richard; Konzelmann, Sue; … - ESRC Centre for Business Research - 2005

The corporate governance environment in the UK and US is generally thought to be hostile to the emergence of cooperative employment relations of the kind exemplified by labour-management partnerships. We discuss case study evidence from the UK which suggests that, contrary to this widespread...

Persistent link: https://www.econbiz.de/10005162820

Partnership, Ownership and Control: The Impact of Corporate Governance on Employment Relations

Deakin, S.; Hobbs, R.; Konzelmann, S.; Wilkinson, F. - ESRC Centre for Business Research - 2001

Most large UK private-sector organisations are listed companies that are subject to intense pressures to enhance shareholder value. The question arises of whether this constrains the ability of UK managers to pursue genuine partnership arrangements with long-term stakeholders, including...

Persistent link: https://www.econbiz.de/10005162832

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