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Linear voting rule limitation strategy to reduce the power of a unique new comer in a firm's capital
Teulon, Frédéric; Moschetto, Bruno-Laurent - Institut de Préparation à l'Administration et à la … - 2013
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
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Does Gender Diversity on board lead to Risk-Taking? Empirical Evidence from Tunisia
Loukil, Nadia; Yousfi, Ouidad - Institut de Préparation à l'Administration et à la … - 2014
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
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Does Board Gender Diversity Make a Difference? New Evidence from Quantile Regression Analysis
Dang, Rey; Nguyen, Duc Khuong - Institut de Préparation à l'Administration et à la … - 2014
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
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Do shareholders really own the firm?
BOYER, Tristan - Institut de Préparation à l'Administration et à la … - 2014
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
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Activism of Institutional Investors, Corporate Governance Alerts and Financial Performance
Lantz, Jean-Sebastien; Montandrau, Sophie; Sahut, … - Institut de Préparation à l'Administration et à la … - 2014
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
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Real exchange rates, commodity prices and structural factors in developing countries
BODART, Vincent; CANDELON, Bertrand; CARPANTIER, … - Institut de Préparation à l'Administration et à la … - 2014
Family businesses are an important part of the world economy (Anderson and Reeb, 2003) and show significant differences … in their corporate governance compared to non-family firms. Although displaying evident unique features, family firms … to this growing research and investigates empirically the relationship between family shareholding and audit pricing …
Persistent link: https://www.econbiz.de/10010860520
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Excess control, agency costs and the probability of going private in France
Belkhir, Mohamed; Boubaker, Sabri; Rouatbi, Wael - Institut de Préparation à l'Administration et à la … - 2014
The current study investigates the determinants of going private (GP) in France. It contrasts a sample of 161 firms that went private between 1997 and 2009 with a propensity-score-matched sample of firms that remained public during the same period. The results indicate that, unlike for firms...
Persistent link: https://www.econbiz.de/10010930518
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Audit Fees in Family Firms Evidence From U.S. Listed Companies
Ben Ali, Chiraz; Lesage, Cédric - Institut de Préparation à l'Administration et à la … - 2014
Family businesses are an important part of the world economy (Anderson and Reeb, 2003) and show significant differences … in their corporate governance compared to non-family firms. Although displaying evident unique features, family firms … to this growing research and investigates empirically the relationship between family shareholding and audit pricing …
Persistent link: https://www.econbiz.de/10010754709
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CEO Monitoring and board effectiveness - Resolving CEO compensation issue
Ben Ali, Chiraz; Teulon, Frédéric - Institut de Préparation à l'Administration et à la … - 2014
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
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Linear Prices Equilibria and Nonexclusive Insurance Market
Loss, Frédéric; Piaser, Gwenaël - Institut de Préparation à l'Administration et à la … - 2014
Family businesses are an important part of the world economy (Anderson and Reeb, 2003) and show significant differences … in their corporate governance compared to non-family firms. Although displaying evident unique features, family firms … to this growing research and investigates empirically the relationship between family shareholding and audit pricing …
Persistent link: https://www.econbiz.de/10010754752