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. In some cases shareholders are pushing companies to take actions that may reduce market value. It is hard to understand …
Persistent link: https://www.econbiz.de/10013191070
work on shareholders and shareholder activism, directors, executives and their compensation, controlling shareholders …
Persistent link: https://www.econbiz.de/10012463112
position to benefit themselves at the expense of minority shareholders -- were endemic to corporations in the late …, however, was to give controlling shareholders the power to extract more than their fair share of their enterprise's profits …
Persistent link: https://www.econbiz.de/10012467787
minority shareholders. We provide evidence and a model that explains propping. In particular, we suggest that issuing debt can …
Persistent link: https://www.econbiz.de/10012468748
important in curbing these private benefits. A high degree of statutory protection of minority shareholders and high degree of …
Persistent link: https://www.econbiz.de/10012470004
an information ea between management and outside shareholders. In the presence of such a gap, maximizing short-run and … actions that will reduce long-run value. In such a case, management faces the dilemma of which shareholders to please: those …
Persistent link: https://www.econbiz.de/10012475377
shareholders from the complex, pyramidal, and often obscure corporate structures. First, we show that there are large differences …
Persistent link: https://www.econbiz.de/10012455670
managers, institutional investors, small shareholders, auditors, and other parties involved in corporate governance. The lower …
Persistent link: https://www.econbiz.de/10012456869
This paper studies the corporate governance and asset pricing implications of investors owning blocks in multiple firms. Common wisdom is that multi-firm ownership weakens governance because the blockholder is spread too thinly. We show that this need not be the case. In a single-firm benchmark,...
Persistent link: https://www.econbiz.de/10012458246
GIM Index or the proportion of activist shareholders. Following these special meetings, we find that the next quarter …
Persistent link: https://www.econbiz.de/10012461596