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Shareholder Power and the Decline of Labor

Falato, Antonio; Kim, Hyunseob; Wachter, Till von - National Bureau of Economic Research - 2022

Shareholder power in the US grew over recent decades due to a steep rise in concentrated institutional ownership. Using establishment-level data from the US Census Bureau's Longitudinal Business Database for 1982-2015, this paper examines the impact of increases in concentrated institutional...

Persistent link: https://www.econbiz.de/10013334421

Corporate Governance, Economic Entrenchment and Growth

Morck, Randall - 2004

Around the world, large corporations usually have controlling owners, who are usually very wealthy families. Outside …

Persistent link: https://www.econbiz.de/10012467999

Governance and Bank Valuation

Caprio, Gerard - 2003

Which public policies and ownership structures enhance the governance of banks? This paper constructs a new database on the ownership of banks internationally and then assesses the ramifications of ownership, shareholder protection laws, and supervisory/regulatory policies on bank valuations....

Persistent link: https://www.econbiz.de/10012468536

Blockholders and Corporate Governance

Edmans, Alex - 2013

This paper reviews the theoretical and empirical literature on the different channels through which blockholders (large shareholders) engage in corporate governance. In classical models, blockholders exert governance through direct intervention in a firm's operations, otherwise known as "voice."...

Persistent link: https://www.econbiz.de/10012459088

Law and Finance c. 1900

Musacchio, Aldo - 2010

development around the world today (La Porta et al, 1998, 1999 and passim). This paper examines the persistence of the effects of … variation observed in financial development around the world today is likely a product of events of the twentieth century rather …

Persistent link: https://www.econbiz.de/10012462439

The Evolution of Corporate Ownership After IPO : The Impact of Investor Protection

Foley, C. Fritz - 2008

Recent research documents that ownership concentration is higher in countries with weak investor protection. However, drawing on panel data on corporate ownership in 34 countries between 1995 and 2006, we show this pattern does not hold for newly public firms, which tend to have concentrated...

Persistent link: https://www.econbiz.de/10012464091

Bank Governance, Regulation, and Risk Taking

Laeven, Luc - 2008

This paper conducts the first empirical assessment of theories concerning relationships among risk taking by banks, their ownership structures, and national bank regulations. We focus on conflicts between bank managers and owners over risk, and show that bank risk taking varies positively with...

Persistent link: https://www.econbiz.de/10012464532

Corporate Governance and the Home Bias

Pinkowitz, Lee - 2001

equilibrium. We construct an estimate of the world portfolio of shares available to investors who are not controlling shareholders …. This available world portfolio differs sharply from the world market portfolio. In regressions explaining the portfolio … weights of U.S. investors, the world portfolio of available shares has a positive significant coefficient but the world market …

Persistent link: https://www.econbiz.de/10012470035

Law and Finance

Porta, Rafael La - 1996

This paper examines legal rules covering protection of corporate shareholders and creditors, the origin of these rules, and the quality of their enforcement in 49 countries. The results show that common law countries generally have the best, and French civil law countries the worst, legal...

Persistent link: https://www.econbiz.de/10012473181

Concentrated corporate ownership

Morck, Randall (ed.) - 2000

Persistent link: https://www.econbiz.de/10013480933