with 100% foreign ownership, possibly because the marginal costs of acquiring additional equity are growing with the size … determinants of equity levels, we focus on informational asymmetries and (unobserved) ownership specific characteristics of foreign …

We test under what circumstances boards discipline managers and whether such interventions improve performance. We … with detailed ‘hard’ information about the board’s performance expectations and ‘soft’ information about board and CEO … actions and the board’s beliefs about CEO competence in 473 mostly private-sector companies backed by private equity funds …

its individual members. The model has other implications for the ownership structure of a closely held corporation: A one …-share-one-vote rule improves efficiency; the optimal ownership structure has either one dominant shareholder or several equal …

proportionality" through proposals that regulate mechanisms opposing a proportional distribution of ownership and control. We … scrutinize the foundation for these initiatives by analyzing the use of instruments to separate ownership from control across … negative impact on firm value from disproportional ownership structures previously established in a sample of Asian firms by …

kind. Unfortunately, takeover rules cannot be crafted so as to hinder all the bad takeovers while at the same time … current EC legal framework for takeovers overall hinders takeover activity in the EU, the paper identifies three rationales …This paper argues that in revising the Takeover Bid Directive, EU policymakers should adopt a neutral approach toward …

state ownership. This paper examines Brazil's efforts to address agency conflicts in SOEs, including new legislation (Law …

We follow the evolution of ownership structure in a sample of 80 Israeli companies that unified their dual-class shares … whole and not different from that in the control sample, suggesting that pyramidal ownership structures did not replace dual …

We investigate the role of ownership structure and investor protection in postprivatization corporate governance. We …. We also show that private ownership tends to concentrate over time. In addition to firm-level variables, investor … protection, political and social stability explain the cross-firm differences in ownership concentration. We find that the …