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This paper analyses how the quality of the corporate governance system impacts on the market value of the financial institutions listed on the Italian Stock Exchange. Implementing a good corporate governance is costly, therefore verifying whether the investment is worth its cost is a relevant...
Persistent link: https://www.econbiz.de/10011259402
In this study, we examine the wealth effects of regulatory changes intended to improve corporate governance by protecting minority shareholders from expropriation by controlling shareholders. Using data from publicly traded Chinese firms, we find that these new regulations significantly...
Persistent link: https://www.econbiz.de/10011260290
The paper presents the actual ownership structure of public companies in Bulgaria on the basis of a survey of 104 of … the companies traded on the Bulgarian Stock Exchange. It discusses as well the problems of disclosure of ownership … the disclosure procedures and very concentrated ownership; for more than the half of the companies the largest …
Persistent link: https://www.econbiz.de/10011260600
Developing banking standards is an important process for a country’s financial and economic well being. Their importance incites governments to insure the stability and the good performance of their banking systems. Accordingly, several researchers pay a particular attention to banking...
Persistent link: https://www.econbiz.de/10008694021
The paper proposes a practical guide to the evaluation of the financial and non-financial vulnerability of the private sector (excluding financial entities). It describes step by step the sequence of issues that should be examined to assess the level of vulnerability of the private sector,...
Persistent link: https://www.econbiz.de/10005787090
In view of recent corporate scandals, it is argued that corporate governance can learn from public governance. Institutions devised to control and discipline the behaviour of executives in the political sphere can give new insights into how to improve the governance of firms. Some proposal such...
Persistent link: https://www.econbiz.de/10005835562
resulting from the separation of ownership and control. Developing and emerging economies are constantly confronted with issues …
Persistent link: https://www.econbiz.de/10005621567
Based on panel data from 1995 – 1997, the paper focuses on the impact of ownership structure on the performance of … that ownership concentration results in higher technical efficiency of enterprises, but benefits from productivity … between ownership by different groups of owners and firm performance is relatively weak and subject to reversed causality …
Persistent link: https://www.econbiz.de/10008753071
This paper attempts to explain a large premium paid on common (voting) shares relative to preferred (non-voting) shares in the Russian stock market. Empirical analysis focuses on two main explanations relating the premium either to the voting right attached to common shares or to differences in...
Persistent link: https://www.econbiz.de/10008776870
The authors perform an original research on the fundamentals of winning virtuous strategies creation toward the leveraged buyout transactions implementation during the private equity investment in the conditions of the resonant absorption of discrete information in the diffusion - type financial...
Persistent link: https://www.econbiz.de/10011156987