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 controller's efficiency. The ownership structure and the board of directors rarely …

ownership, private benefits, and debt levels are linked. At low levels of debt, debt is relatively less disciplinary compared …

resist unfriendly takeovers attempts. When ownership reaches a certain point, controlling shareholders' objectives further … period 1998-2009 is empirically tested. It supports an inverted U-shape relationship between shareholders' ownership and … leverage. At low levels of ownership, controlling shareholders use more debt in order to inflate their stake in capital and to …

takeovers. Using a sample of French deals, this paper investigates the impact of shareholder agreements on takeover premiums. A … shareholder agreement is in force in 27.1% of target companies. A positive relationship between shareholder pacts and takeover …

. We use a simple discrete model comparing the capital ownership stake of the controlling shareholder with that of the … setting of joint ownership between the controlling shareholder and outside investors depends on the perceived level of private …

investors and of ownership concentration in corporate governance systems in Europe. One share-one vote encourages the selection …

resist unfriendly takeovers attempts. When ownership reaches a certain point, controlling shareholders’ objectives further … period 1998–2009 is empirically tested. It supports an inverted U-shape relationship between shareholders’ ownership and … leverage. At low levels of ownership, controlling shareholders use more debt in order to inflate their stake in capital and to …

to choose between a unitary board and a dual board structure. Our evidence indicates that dual boards are more monitoring … intensive and that firms with greater asymmetric information adopt unitary boards, while those with a high potential for private … benefit extraction adopt dual boards. Our results imply that freedom of contract about board structure is valuable for …

are likely to adopt dual boards. Firms well monitored by financial market and institutional forces are less likely to have … dual boards. Our results imply that freedom of contract about board structure is valuable for shareholders. …