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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

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

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 … protection where the main agency conflict opposes managers to shareholders (type I conflict). Using a sample of 81 French firms …

Persistent link: https://www.econbiz.de/10008793309

Board structure, Ownership structure, and Firm performance : Evidence from Banking

Belkhir, Mohamed - HAL - 2006

savings-and-loan holding companies. These governance characteristics, designed to reduce agency problems between shareholders … managers and shareholders. These findings suggest that cross-sectional OLS regressions of bank performance on single governance …

Persistent link: https://www.econbiz.de/10008794749

In search of an alternative to shareholder value maximization

Giraud, Gaël; Renouard, Cécile - HAL - 2011

This paper argues that mainstream economic the- ory, far from providing an indisputable plea in favor of shareholder value-maximization, o ers striking arguments showing quite the opposite: pro t maximization cannot be a legitimate prioritar- ian goal for private rms. This opens the door for a...

Persistent link: https://www.econbiz.de/10009207103

What future for codetermination and corporate governance in Germany?

Boyer, Robert - HAL - 2005

Contrary to the prognosis derived from the variety of capitalism literature, since the mid-90s the significant restructuring of large German corporations in the direction of shareholder value seems to have been compatible with the persistence of a genuine configuration of industrial relations,...

Persistent link: https://www.econbiz.de/10010739104

In search of an alternative to shareholder value maximization

Giraud, Gaël; Renouard, Cécile - HAL - 2011

This paper argues that mainstream economic theory, far from providing an indisputable plea in favor of shareholder value-maximization, offers striking arguments showing quite the opposite : profit-maximization cannot be a legitimate goal for private firms. This opens the door for a widening of a...

Persistent link: https://www.econbiz.de/10011025817

La RSE comme instrument de la gouvernance d'entreprise

Cézanne, Cécile; Rubinstein, Marianne - HAL - 2010

Après avoir mis en évidence les problèmes de gouvernance posés par la " nouvelle firme ", désintégrée verticalement et intensive en capital humain, nous avançons que la responsabilité sociale de l'entreprise (RSE) peut servir à réguler les rapports de force entre les partenaires...

Persistent link: https://www.econbiz.de/10009323659

Private Equity investment performance : Do social ties between venture capitalists and CEOs matter

Bonnet, Christophe - HAL - 2001

Our area of interest is the relationship between Private Equity professionals and the CEOs of companies. Building on previous research on board-CEO relationship and on venture capital and management buyout governance, we aim at complementing the frequently used agency theory perspective by way...

Persistent link: https://www.econbiz.de/10010549128

Corporate governance, value and performance of firms: New empirical results on convergence from a large international database

Krafft, Jackie; Qu, Yiping; Quatraro, Francesco; Ravix, … - HAL - 2013

This paper aims to revisit the link between corporate governance, value, and firm performance by focusing on convergence, understood as the way that non-US firms are adopting US best practice in terms of corporate governance, and the implications of this adoption. We examine theoretical...

Persistent link: https://www.econbiz.de/10010607938