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Investor protection and the value of shares: evidence from statutory rules governing variations of shareholders' class rights in Russia
Muravyev, Alexander - 2009
This paper uses a quasi-experimental framework provided by recent changes in Russian corporate law to study the effect of investor protection on the value of shares. The legal change analyzed involves the empowerment of preferred (non-voting) shareholders to veto unfavorable changes in their...
Persistent link: https://www.econbiz.de/10010269433
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Investor Protection and the Value of Shares: Evidence from Statutory Rules Governing Variations of Shareholders' Class Rights in Russia
Muravyev, Alexander - Institute for the Study of Labor (IZA) - 2009
This paper uses a quasi-experimental framework provided by recent changes in Russian corporate law to study the effect of investor protection on the value of shares. The legal change analyzed involves the empowerment of preferred (non-voting) shareholders to veto unfavorable changes in their...
Persistent link: https://www.econbiz.de/10008497016
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Shall we kill or enslave Caesar? Analyzing the Caesar model
Jasso, Guillermina - 2008
paper presents a model of killing versus enslaving Caesar, based on a new theory which unifies justice, status, and power … of societies - justice-nonmaterialistic, status, and power-nonmaterialistic. Results cover members' gains, effects of own … killed only in a justice-nonmaterialistic society, and from the noblest of motives - to achieve equal gains for members. …
Persistent link: https://www.econbiz.de/10010268571
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Do the reciprocal trust less?
Altmann, Steffen; Dohmen, Thomas; Wibral, Matthias - 2007
We study the intrapersonal relationship between trust and reciprocity in a laboratory experiment. Reciprocal subjects trust significantly more than selfish ones. This finding raises questions about theories of social preferences which predict that fairer players should trust less.
Persistent link: https://www.econbiz.de/10010268393
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Eliciting motives for trust and reciprocity by attitudinal and behavioural measures
Farina, Francesco; O'Higgins, Niall; Sbriglia, Patrizia - 2008
Value Surveys may reveal well-behaved societies by the statistical treatment of the agents' declarations of compliance with social values. Similarly, the results of experiments conducted on games with conflict of interest trace back to two important primitives of social capital - trust and...
Persistent link: https://www.econbiz.de/10010268620
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A different look at Lenin's legacy: Trust, risk, fairness and cooperativeness in the two Germanies
Heineck, Guido; Süssmuth, Bernd - 2010
What are the long-term effects of Communism on economically relevant notions such as social trust? To answer this question, we use the reunification of Germany as a natural experiment and study the post-reunification trajectory of convergence with regard to individuals' trust and risk, as well...
Persistent link: https://www.econbiz.de/10010274630
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Trust in public institutions over the business cycle
Stevenson, Betsey; Wolfers, Justin - 2011
the most suffered the biggest loss in confidence in institutions, particularly in trust in government and the financial … sector. Finally, analysis of several repeated cross-sections of confidence within U.S. states yields similar qualitative …
Persistent link: https://www.econbiz.de/10010278438
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Do women prefer a co-operative work environment?
Kuhn, Peter J.; Villeval, Marie Claire - 2011
observed patterns in the team-entry gender gap: (1) a gender gap in confidence in others (i.e. women are less pessimistic about …
Persistent link: https://www.econbiz.de/10010280692
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Fading hope in the US
Ritzen, Jo; Zimmermann, Klaus F. - 2012
A substantial literature claims that the strong increase in inequality over the last decade in countries such as the US would lead to a collapse of society. Fading hopes in the population seem to confirm this. The paper rejects this interpretation since the decline in hopes cannot be traced back...
Persistent link: https://www.econbiz.de/10010282365
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Bringing Connections Onboard: The Value of Political Influence
Green, Colin P.; HomRoy, Swarnodeep - 2020
In 2002, an amendment to UK parliamentary regulations removed restrictions on the participation of members of parliament (MPs) in parliamentary proceedings related to their corporate interests. Using this amendment as a quasi-natural experiment, we demonstrate gains in firm value and...
Persistent link: https://www.econbiz.de/10012270070