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L’impact de l’intervention des administrateurs externes et de la taille du conseil sur la performance des entreprises : application au contexte tunisien
Ben Taleb Sfar, Dorsaf; Léger-Jarniou, Catherine - Université Paris-Dauphine (Paris IX) - 2012
Given the importance of governance systems in companies and to all its partners, collective responsibility of the different governance devices has been highlighted. The role of the Board which can be viewed as a body of supreme control remains highly controversial in the in different...
Persistent link: https://www.econbiz.de/10011166439
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Stakeholder Coalitions and Social Media-Driven Advocacy
Shibib, Walid; Josserand, Emmanuel - Université Paris-Dauphine (Paris IX) - 2014
How does Social Media (SM) impact the Stakeholder Theory and the stakeholder environment of organizations? This paper focuses on stakeholder coalitions and SM-driven social movements. Organized resistance and mounted pressure, which disrupt corporations’ activities and oblige change, are a...
Persistent link: https://www.econbiz.de/10011124180
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Efficacité des structures de contrôle et enracinement des dirigeants
Alexandre, Hervé; Paquerot, Mathieu - Université Paris-Dauphine (Paris IX) - 2000
ownership structure and the board of directors on managers. The confrontation of entrenchment theory and agency theory allows to …
Persistent link: https://www.econbiz.de/10010861596
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Développements récents dans la gouvernance d’entreprises
Ginglinger, Edith - Université Paris-Dauphine (Paris IX) - 2005
Persistent link: https://www.econbiz.de/10010905148
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Crossing takeover premiums and mix of payment : an empirical test of contractual setting in M&A transactions
de La Bruslerie, Hubert - Université Paris-Dauphine (Paris IX) - 2013
The analyses of the tender offer premiums and of the means of payment should not be performed separately. In the empirical literature, these two variables are often considered independently, although they may have an endogenous relationship in a contractual setting. Using a sample of European...
Persistent link: https://www.econbiz.de/10010735772
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Seasoned equity offerings: Stock market liquidity and the rights offer paradox
Ginglinger, Edith; Koenig-Matsoukis, Laure; Riva, Fabrice - Université Paris-Dauphine (Paris IX) - 2013
This paper examines the impact of market liquidity on seasoned equity offerings (SEO) characteristics in France. We find that, besides blockholders’ takeup, liquidity is an important determinant of SEO flotation method choice. We document higher direct equity offering flotation costs, but also...
Persistent link: https://www.econbiz.de/10010744752
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Debt, Private Benefits, and Corporate Governance: An Analysis in an Option Valuation Framework
de La Bruslerie, Hubert - Université Paris-Dauphine (Paris IX) - 2014
modify the leverage ratio than to modify their share of capital. A simple model is used to show that debt appears to be a key …
Persistent link: https://www.econbiz.de/10010790025
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Ownership Structure and Debt Leverage: Empirical Test of a Trade-Off Hypothesis on French Firms
de La Bruslerie, Hubert; Latrous, Imen - Université Paris-Dauphine (Paris IX) - 2012
the leverage ratio than to modify their share of capital. A sample of 112 firms listed on the French stock market over the … leverage. At low levels of ownership, controlling shareholders use more debt in order to inflate their stake in capital and to … firm's leverage ratio. Empirically, it is shown that the inflection point where the sign of the relationship between …
Persistent link: https://www.econbiz.de/10010790035
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Do target shareholder agreements induce bidders to pay higher premiums?
Belot, François - Université Paris-Dauphine (Paris IX) - 2009
In listed companies, some shareholders can be signatories to agreements that govern their relations. Such agreements are often viewed as means of insulating the firm from the market for corporate control. Specific provisions (namely concerted action, pre-emptive buying rights and repartitioning...
Persistent link: https://www.econbiz.de/10010706570
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Ownership, control and market liquidity
Hamon, Jacques; Ginglinger, Edith - Université Paris-Dauphine (Paris IX)
We examine how ownership concentration and the separation of ownership and control affect market liquidity in France. We find that firms with a large insider blockholder exhibit significantly lower liquidity. Different methods of concentrating control affect liquidity in different ways. Pyramid...
Persistent link: https://www.econbiz.de/10010706821