Similar Search Results

Regulatory Pressure and Bank Directors' Incentives to Attend Board Meetings

Adams, Renee B. - 2012

The primary way in which directors obtain necessary information is by attending board meetings. Bank directors, in particular, are strongly urged to attend meetings by regulators. We investigate whether such pressure is sufficient for bank directors to have good attendance records. Using data on...

Persistent link: https://www.econbiz.de/10012713185

Do Foreigners Invest Less in Poorly Governed Firms?

Leuz, Christian - 2008

As domestic sources of outside finance are limited in many countries around the world, it is important to understand factors that influence whether foreign investors provide capital to a country's firms. We study 4,409 firms from 29 countries to assess whether and why concerns about corporate...

Persistent link: https://www.econbiz.de/10012727464

Indexing Executive Compensation Contracts

Maug, Ernst G. - 2013

We analyze the efficiency of indexing executive pay by calibrating the standard model of executive compensation to a large sample of US CEOs. The main finding is that benefits from indexing stock options are small and that fully indexing them would increase compensation costs by more than 50%...

Persistent link: https://www.econbiz.de/10013092724

Bonus Schemes and Trading Activity

Pikulina, Elena - 2013

traders' performance. We study the effects of linear versus threshold (convex) bonus schemes on traders' behavior. Traders … safety margin. Under the threshold scheme, the traders' performance is lower (even when there are no transaction costs) than … earnings forecasts, apply more effort to understand those relationships, and finally show better performance …

Persistent link: https://www.econbiz.de/10013085803

Debt Enforcement Around the World

Djankov, Simeon - 2007

We present insolvency practitioners from 88 countries with an identical case of a hotel about to default on its debt, and ask them to describe in detail how debt enforcement against this hotel will proceed in their countries. We use the data on time, cost, and the likely disposition of the...

Persistent link: https://www.econbiz.de/10012731290

Where Do Firms Issue Debt? An Empirical Analysis of Issuer Location and Regulatory Competition in Europe

Eidenmueller, Horst - 2010

In this article, we study the choice of issuer location and regulatory competition in the European corporate debt market. We find that, in absolute terms, Germany has by far the highest outflow of debt issues, while the Netherlands, the UK, Luxembourg and Ireland see the most inflows (in that...

Persistent link: https://www.econbiz.de/10013138105

The determinants of the block premium and of private benefits of control

Albuquerque, Rui; Schroth, Enrique J. - 2008

We study the determinants of private benefits of control in negotiated block transactions. We estimate the block pricing model in Burkart, Gromb, and Panunzi (2000) explicitly dealing with the existence of both block premia and block discounts in the data. We find evidence that the occurrence of...

Persistent link: https://www.econbiz.de/10003962033

When heirs become major shareholders : evidence on tunneling and succession through related-party transactions

Kim, U-chʾan; Hwang, Sunwoo - 2014

In family firms, the succession of controlling equity stake to next generation is an issue of paramount importance. This, however, can be a major challenge in the presence of heavy inheritance or gift tax burden (high tax rate and absence of tax-saving vehicles, such as trusts or foundations)...

Persistent link: https://www.econbiz.de/10010355189

Corporate takeovers and economic efficiency

Eckbo, B. Espen - 2013

I review recent takeover research which advances our understanding of "who buys who" in the drive for productive efficiency. This research provides detailed information on text-based definitions of product market links between bidders and targets, the role of the supply chain and industrial...

Persistent link: https://www.econbiz.de/10010254150

Takeovers

Burkart, Mike - 2006

This paper reviews the existing literature on takeovers. Takeovers are a means to redeploy corporate assets more efficiently and to discipline incumbent management. However, an active market for corporate control also brings about potential inefficiencies. Takeovers may be undertaken for reasons...

Persistent link: https://www.econbiz.de/10012734369