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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
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
protection where the main agency conflict opposes managers to shareholders (type I conflict). Using a sample of 81 French firms …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 …
Persistent link: https://www.econbiz.de/10008793309
managers and shareholders. These findings suggest that cross-sectional OLS regressions of bank performance on single governance … savings-and-loan holding companies. These governance characteristics, designed to reduce agency problems between shareholders … and managers, are insider ownership, blockholder ownership, the proportion of outside directors, board leadership …
Persistent link: https://www.econbiz.de/10008794749
Le comité d'audit joue un rôle crucial dans la protection des intérêts des actionnaires et des autres parties prenantes. En effet, son efficacité est subordonnée à ses caractéristiques qui se rapportent essentiellement sur l'indépendance de ses membres, la taille du Comité, la...
Persistent link: https://www.econbiz.de/10010587832
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
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
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
This paper examines the proposition that financial policy and corporate governance are linked and change as a part of a dynamic process.
Persistent link: https://www.econbiz.de/10010898651
The demand of management control information (MCI) and its use by Venture Capitalists (VC) are examined through a qualitative study. The VC, active investor concerned with investment return, may be interested by information traditionally reserved to the manager. The results show that the VC are...
Persistent link: https://www.econbiz.de/10010898750