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Ownership concentration and firm performance: Evidence from an emerging market
Grosfeld, Irena - HAL - 2006
The initial view of the advantages of ownership concentration in joint stock companies was determined by the concern about the opportunistic managerial behavior. The growing importance of knowledge and human capital in the operation of firms shifts the focus of concern: excessive ownership...
Persistent link: https://www.econbiz.de/10010738833
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Large shareholders and firm value: Are high-tech firms different?
Grosfeld, Irena - HAL - 2009
This paper explores the relationship between ownership structure and firm value in a transition economy. It distinguishes firms belonging to the sector of innovative technologies and firms from more "traditional" industries. For the latter, the results of the estimation of a simultaneous...
Persistent link: https://www.econbiz.de/10010738964
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Disclosure and minority expropriation: A study of French listed firms
Chiraz, Ben Ali - HAL - 2009
In this paper we examine the influence of minority expropriation on disclosure level in France where shareholders are poorly protected and the main agency problem is the one between controlling and minority shareholders (type II conflict) while prior studies have been undertaken in the United...
Persistent link: https://www.econbiz.de/10008793309
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Board structure, Ownership structure, and Firm performance : Evidence from Banking
Belkhir, Mohamed - HAL - 2006
This paper examines the interrelations among five ownership and board characteristics in a sample of 260 bank and savings-and-loan holding companies. These governance characteristics, designed to reduce agency problems between shareholders and managers, are insider ownership, blockholder...
Persistent link: https://www.econbiz.de/10008794749
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Neoclassical vs Evolutionary Theories of Financial Constraints : Critique and Prospectus
Coad, Alex - HAL - 2007
Complicated neoclassical models predict that if investment is sensitive to current financial performance, this is a …, refers to the principle of "growth of the fitter" to explain investment-cash flow sensitivities as the workings of a healthy …
Persistent link: https://www.econbiz.de/10010750396
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Structural Modelling of Financial Constraints on Investment: Where Do We Stand?
Chatelain, Jean-Bernard - HAL - 2003
This paper surveys issues with respect to the structural modelling of econometric tests of investment facing financial … is to provide conditions which support the interpretation of the sensitivity of investment to liquidity variables such as … cash flow as a measure of financial constraints. The structural modelling of investment facing financial constraints is …
Persistent link: https://www.econbiz.de/10010750831
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Ownership Structure and Debt Leverage: Empirical Test of a Trade-Off Hypothesis on French Firms
Bruslerie, Hubert De La; Latrous, Imen - HAL - 2012
Debt may help to manage type II corporate agency conflicts because it is easier for controlling shareholders to modify the leverage ratio than to modify their share of capital. A sample of 112 firms listed on the French stock market over the period 1998-2009 is empirically tested. It supports an...
Persistent link: https://www.econbiz.de/10010820683
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Women and Corporate Governance : Towards a New Model!
Beaufort, Viviane De; Summers, Lucy - HAL - 2013
The feminization of Boards has the potential to be a vector of change, bringing "added value" to organisations through gender diversity, thus creating greater efficiency. Promoting women to positions of power only makes sense, however, if these women are allowed to bring, in terms of skills and...
Persistent link: https://www.econbiz.de/10010820799
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A mission-centric view of the firm: Lessons from Social Entrepreneurship
Levillain, Kevin; Segrestin, Blanche - HAL - 2012
Social Entrepreneurship causes increasing debate in the literature and represents a growing enigma for theories of the firm. Beyond the divergences in its definitions, we show that its mission to create "social value" is an identifiable common feature that cannot be satisfactorily described...
Persistent link: https://www.econbiz.de/10010821084
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Una contribución a la evaluación de las reformas al Gobierno Corporativo de las empresas: aplicación a la Argentina
Chisari, Omar; Ferro, Gustavo - HAL - 2012
In this work we do two things: 1) an assessment of the current academic opinions and of the present situa-tion around the world, 2) a reconsideration of the quantitative evaluaton of corporate governance reforms from the perspective of general equilibrium. Corporate governance could be defined...
Persistent link: https://www.econbiz.de/10010821129