Similar Search Results

Business Groups as Hierarchies of Firms: Determinants of Vertical Integration and Performance

Altomonte, Carlo; Rungi, Armando - Fondazione ENI Enrico Mattei (FEEM) - 2013

We explore the nature of Business Groups, that is network-like forms of hierarchical organization between legally autonomous firms spanning both within and across national borders. Exploiting a unique dataset of 270,474 headquarters controlling more than 1,500,000 (domestic and foreign)...

Persistent link: https://www.econbiz.de/10010640989

Business Groups, Bank Control and Large Shareholders: An Analysis of German Takeovers

Boehmer, Ekkehart - Fondazione ENI Enrico Mattei (FEEM) - 1999

I analyse the effect of ownership structure and bank control on performance. I employ a unique data set of 715 German takeovers to test whether group structure, large shareholders, and bank control affect their value to shareholders. First, I find that takeovers increase bidder value, but...

Persistent link: https://www.econbiz.de/10005423210

Strong Managers and Passive Institutional Investors in the UK

Goergen, Marc; Renneboog, Luc - Fondazione ENI Enrico Mattei (FEEM) - 1999

The first striking feature is that ownership of the average UK company is diffuse: a coalition of at least eight shareholders is required to reach an absolute majority of voting rights. Even though the average firm has a dispersed ownership, the reader should bear in mind that there are about...

Persistent link: https://www.econbiz.de/10005385447

Monitoring Managers: Does it Matter?

Cornelli, Francesca; Kominek, Zbigniew; Ljungqvist, … - Fondazione ENI Enrico Mattei (FEEM) - 2010

We test under what circumstances boards discipline managers and whether such interventions improve performance. We …

Persistent link: https://www.econbiz.de/10008540409

Ownership and Control in the Netherlands

Jongand, Abe de; Kabir, Rezaul; Marra, Teye; Roell, Ailsa - Fondazione ENI Enrico Mattei (FEEM) - 1999

This paper analyses ownership and control structures of Dutch listed companies. Legislation effective since 1992 mandates all shareholders with holdings of 5 percent or more in Dutch companies to disclose their holdings. Our analysis shows that the average ownership stakes of the largest and the...

Persistent link: https://www.econbiz.de/10005570373

How (not) to Choose Peers in Studying Groups

Gall, Thomas; Amann, Roland - Fondazione ENI Enrico Mattei (FEEM) - 2006

This paper analyzes social group formation when agents are subject to peer effects within groups increasing human capital and instantaneous utility. When agents are heterogeneous on two dimensions, ability and social skills, and monetary payments are not feasible the model predicts segregation...

Persistent link: https://www.econbiz.de/10005570263

Participation in International Environmental Agreements: The Role of Timing and Regulation

Finus, Michael; Rundshagen, Bianca - Fondazione ENI Enrico Mattei (FEEM) - 2005

We analyze the formation of self-enforcing international environmental agreements under the assumption that countries announce their participation either simultaneously or sequentially. It is shown that a sequential formation process opens up possibilities for strategic behavior of countries...

Persistent link: https://www.econbiz.de/10005423156

Technology Diffusion, Abatement Cost, and Transboundary Pollution

Heal, Geoffrey; Tarui, Nori - Fondazione ENI Enrico Mattei (FEEM) - 2008

This paper studies countries’ incentives to develop advanced pollution abatement technology when technology may spillover across countries and pollution abatement is a global public good. We are motivated in part by the problem of global warming: a solution to this involves providing a global...

Persistent link: https://www.econbiz.de/10005423224

“Almost” Subsidy-free Spatial Pricing in a Multi-dimensional Setting

Savvateev, Alexei; Drèze, Jacques; Breton, Michel Le; … - Fondazione ENI Enrico Mattei (FEEM) - 2007

Consider a population of citizens uniformly spread over the entire plane, that faces a problem of locating public facilities to be used by its members. The cost of every facility is financed by its users, who also face an idiosyncratic private access cost to the facility. We assume that the...

Persistent link: https://www.econbiz.de/10005423225

(Self-) Enforcement of Joint Implementation and Clean Development Mechanism Contracts

Janssen, Josef - Fondazione ENI Enrico Mattei (FEEM) - 1999

burdened with problems of contract enforcement, which prevent the realisation of efficiency gains associated with these … the project host if he breaches the contract may serve this purpose. The effective level of punishment is derived. The … second option involves strategic delegation of contract implementation to a third party operating under the same jurisdiction …

Persistent link: https://www.econbiz.de/10005385449