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In all the defensive measures against takeover bids, those based on rules limiting voting rights are generally cited as the most effective. Ironically, the supposed efficacy seems to have never been tested or modeled. This is precisely the subject of our article that focuses in terms of...
Persistent link: https://www.econbiz.de/10010860450
The current paper studies the impact of board gender-diversity on firm risk-taking in a developing market. Our study is drawn on a sample of 30 Tunisian listed firms between 1997 and 2010. First, we found that women have a risk perception that leads to a risk avoidance behavior: the presence of...
Persistent link: https://www.econbiz.de/10010860462
The under-representation of female directors in the boardroom where corporate strategic decisions are made has recently become not only an ethical business case but also a public pressure to improve this gender imbalance. While there is some practical evidence to suggest that gender-diverse...
Persistent link: https://www.econbiz.de/10010860487
The object of this contribution is to address the question of the ownership of the firm. Both law and economics shape representations of the world: law focuses on rules and justice; economics focuses on efficiency and allocation. They describe common situations and "objects'' such as firms and...
Persistent link: https://www.econbiz.de/10010860491
Institutional investors are predominant on the financial markets and are becoming more active in their portfolio management. This article attempts to enhance our understanding of the incidence of shareholder activism on market reaction in the wake of seve
Persistent link: https://www.econbiz.de/10010860518
suggesting that family firms face lower manager/shareholders agency costs. Auditors charge lower fees for family firms because of …
Persistent link: https://www.econbiz.de/10010860520
same period. The results indicate that, unlike for firms that remain public, the largest controlling shareholders (LCSs) of … with the view that agency problems between large and minority shareholders make public firms less attractive to investors …
Persistent link: https://www.econbiz.de/10010930518
suggesting that family firms face lower manager/shareholders agency costs. Auditors charge lower fees for family firms because of …
Persistent link: https://www.econbiz.de/10010754709
Similar to the Security Exchange Commission (SEC), the French Stock Exchange Authority (AMF) issued new board requirements to enhance manager control after financial scandals (2008-2009). This study investigates the relation between corporate governance and CEO pay levels after taking into...
Persistent link: https://www.econbiz.de/10010754710
suggesting that family firms face lower manager/shareholders agency costs. Auditors charge lower fees for family firms because of …
Persistent link: https://www.econbiz.de/10010754752