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In the theoretical framework of corporate governance this article studies the efficiency of the control exerted by the ownership structure and the board of directors on managers. The confrontation of entrenchment theory and agency theory allows to determine the necessary conditions of the...
Persistent link: https://www.econbiz.de/10010861596
corporate governance can be viewed as a consequence of the pension industry reorganisation which occured in the 1970s and 1980s in so far as corporate governance borrows the same organisational principles.
Persistent link: https://www.econbiz.de/10011072666
Persistent link: https://www.econbiz.de/10010706445
Controlled firms are in a framework where private benefits create a buffer between public earnings and economic profitability. We focus on debt leverage in the type II agency conflict between the controlling shareholder and outside investors. We use a simple discrete model comparing the capital...
Persistent link: https://www.econbiz.de/10010707651
We interpret privatization in light of corporate governance theory. After replicating some traditional tests, we test our new model on a sample of privatized French firms. We cannot confirm for French privatizations the positive effect on overall static and dynamic efficiency of the firm...
Persistent link: https://www.econbiz.de/10010708641
Dès le 1er janvier 2005, les normes comptables applicables aux établissements de crédit cotés membres de l'Union européenne seront celles produites par l'IASB. Ces normes accordent une part croissante à la juste valeur. L'objectif de ce papier consiste en l'étude des caractéristiques de...
Persistent link: https://www.econbiz.de/10011073082
L'existence d'une réglementation prudentielle assise sur les fonds propres influence les choix comptables des banques. Les positions restrictives de l'IASC sur les montages déconsolidants et le recours croissant au marché pour évaluer les actifs sont susceptibles de remettre en cause leurs...
Persistent link: https://www.econbiz.de/10010742273
relationships for an institutional system based on formal and impersonal rules. Based on a case study carried out in Egypt, we will …
Persistent link: https://www.econbiz.de/10011073106
When firms use alliance relationships, important decisions they must make concern: (1) How the alliance should develop in order to accomplish the parent firms’ objectives; (2) How they can manage relational risks in the alliance relationship. In order to find an answer to these problems,...
Persistent link: https://www.econbiz.de/10011072602
Purpose – Strategic alliances are often described as risky, dangerous, and instable. When firms adopt these strategies, they are confronted with a relational risk. Nevertheless, little empirical work has been down on relational risk in alliances. For this reason, this research is founded and...
Persistent link: https://www.econbiz.de/10010707930