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Top Executives, Turnover and Firm Performance in Germany
Kaplan, Steven N. - 1993
performance in the largest companies in Germany in the 1980s. The management board turns over slowly -- at a rate of 10% per year …This paper examines executive turnover -- both for management and supervisory boards - - and its relation to firm … -- implying that top executives in Germany have longer tenures than their counterparts in the U.S. and Japan. Turnover of the …
Persistent link: https://www.econbiz.de/10012474534
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Organizational Decision Making Under Uncertainty Shocks
Ballesteros, Luis - 2018
In line with the fallacy of riskification of uncertainty by which decision makers believe that the effects of … markets, such as natural disasters, terrorist attacks, and financial crises--as a problem of risk management. This is … business continuity. Taken together, this article offers the foundation for a behaviorally plausible, decision …
Persistent link: https://www.econbiz.de/10012480579
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A Theory of Firm Scope
Hart, Oliver - 2008
ingredients: (a) decision rights can be transferred ex ante through ownership, (b) managers (and possibly workers) enjoy private …
Persistent link: https://www.econbiz.de/10012464034
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How Do Venture Capitalists Make Decisions?
Gompers, Paul - 2016
organization; and relationships with limited partners. In selecting investments, VCs see the management team as more important than …
Persistent link: https://www.econbiz.de/10012456092
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Blockholder Identity, Equity Ownership Structures, and Hostile Takeovers
Gorton, Gary - 1999
We determine firms' equity ownership structures and provide a theory of hostile takeovers by distinguishing the roles of two types of blockholders: rich investors and institutional investors. We also distinguish the roles of two types of stock markets: the block market and the market with small...
Persistent link: https://www.econbiz.de/10012471671
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Share Pledging in China : Funding Listed Firms or Funding Entrepreneurship?
He, Zhiguo; Liu, Bibo; Zhu, Feifei - National Bureau of Economic Research - 2022
This paper studies the connection between share pledging and entrepreneurial activities in China, challenging the common wisdom that share pledging funds circle back to the listed firms. Share pledging funds are at the discretion of the shareholders who pledge their publicly traded shares, and...
Persistent link: https://www.econbiz.de/10012938700
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Regulatory Costs of Being Public : Evidence from Bunching Estimation
Ewens, Michael; Xiao, Kairong; Xu, Ting - National Bureau of Economic Research - 2021
The increased burden of disclosure and governance regulations is often cited as a key reason for the significant decline in the number of publicly-listed companies in the U.S. We explore the connection between regulatory costs and the number of listed firms by exploiting a regulatory quirk: many...
Persistent link: https://www.econbiz.de/10012616591
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The Specter of the Giant Three
Bebchuk, Lucian A. - 2019
captured the overwhelming majority of the inflows into the asset management industry over the past decade; that each of them …
Persistent link: https://www.econbiz.de/10012479864
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Dancing With Activists
Bebchuk, Lucian A. - 2019
An important milestone often reached in the life of an activist engagement is entering into a "settlement" agreement between the activist and the target's board. Using a comprehensive hand-collected data set, we analyze the drivers, nature, and consequences of such settlement agreements....
Persistent link: https://www.econbiz.de/10012480117
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Price Discovery and Market Segmentation in China's Credit Market
Geng, Zhe - 2019
We study the extent of price discovery in the onshore Chinese corporate bond market, focusing in particular on the information content of credit spreads in China. Using Merton's model of default, we construct credit measures of publicly listed firms, using information from their financial...
Persistent link: https://www.econbiz.de/10012480519