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As American as Apple Inc. : international tax and ownership nationality

Sanchirico, Chris William - 2014

The ownership nationality of large US multinational companies plays an implicit but important role in the current debate over how such companies should be taxed. This paper identifies that role and investigates what is actually known about where these companies’ shareholders reside

Persistent link: https://www.econbiz.de/10011387732

Postprivatization corporate governance : the role of ownership structure and investor protection

Boubakri, Narjess; Cosset, Jean-Claude; Guedhami, Omrane - 2003

We investigate the role of ownership structure and investor protection in postprivatization corporate governance. We find that the government relinquishes control over time, mainly to the benefit of local institutions and foreign investors. We also show that private ownership tends to...

Persistent link: https://www.econbiz.de/10011591071

Sovereign wealth fund investment patterns and performance

Bortolotti, Bernardo; Fotak, Veljko; Megginson, William L. - 2009

We examine 802 investments by 33 Sovereign Wealth Funds (SWFs) in publicly traded companies between May 1985 and November 2009, and find that SWFs tend to invest in large, levered, profitable growth firms, usually headquartered in an OECD country. Announcements of SWF investments yield...

Persistent link: https://www.econbiz.de/10008810291

Monitoring managers : does it matter?

Cornelli, Francesca; Kominek, Zbigniew; Ljungqvist, … - 2010

We test under what circumstances boards discipline managers and whether such interventions improve performance. We exploit exogenous variation due to the staggered adoption of corporate governance laws in formerly Communist countries coupled with detailed ‘hard’ information about the...

Persistent link: https://www.econbiz.de/10008702077

Reluctant privatization

Bortolotti, Bernardo; Faccio, Mara - 2004

through 2000. We find that governments do not relinquish control after privatization. We show that the market-to-book ratios …

Persistent link: https://www.econbiz.de/10011606983

European takeover law : the case for a neutral approach

Enriques, Luca - 2010

This paper argues that in revising the Takeover Bid Directive, EU policymakers should adopt a neutral approach toward takeovers, i.e. enact rules that neither hamper nor promote them. The rationale behind this approach is that takeovers can be both value-creating and value-decreasing and there...

Persistent link: https://www.econbiz.de/10008728815

The growing importance of consumer finance for financial inclusion in India

Ray, Saon; Miglani, Smita; Paul, Sandeep - 2018

Financial inclusion or access to financial services is a major development goal for all nations across the globe. The concept has a multitude of dimensions from payments and savings accounts, credit, insurance and pensions and securities market. Ensuring quality access to formal financial...

Persistent link: https://www.econbiz.de/10011941639

Privatization and investment : crowding-out effects vs financial diversification

Girmens, Guillaume; Guillard, Michel - 2002

In this paper, we study the effect of share issue privatization (SIP) on private investment and financial market under … privatization (crowding-out effect). Vice-versa with risk aversion and perfect intertemporal substitutability (diversification … of the crowding-out effect, when the revenues of privatization are devoted to present public consumption. …

Persistent link: https://www.econbiz.de/10011598289

Selling company shares to reluctant employees : France Telecom's experience

Degeorge, François; Jenter, Dirk; Moel, Alberto; … - 2002

In 1997, France Telecom, the state-owned French telephone company, went through a partial privatization. We adapt a …

Persistent link: https://www.econbiz.de/10011598295

The World Bank's Prototype Carbon Fund and China

Zhang, ZhongXiang - 2004

As the first global carbon fund, the World Bank's Prototype Carbon Fund (PCF) aims to catalyze the market for project-based greenhouse gas emission reductions while promoting sustainable development and offering a learning-by-doing opportunity to its stakeholders. Since the inception in 2000,...

Persistent link: https://www.econbiz.de/10011607038

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