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suggesting a default template of rules. Ultimately, the matter of protection was one for the corporation and its shareholders …
Persistent link: https://www.econbiz.de/10011523499
suggesting a default template of rules. Ultimately, the matter of protection was one for the corporation and its shareholders …
Persistent link: https://www.econbiz.de/10011521411
shareholder protections are less likely to have the entrenchment of the controlling shareholders, while minority shareholders in …
Persistent link: https://www.econbiz.de/10013098983
This paper analyzes the relationship between ownership structure (shareholders' stake and identity) and corporate risk … also find a trend to the alignment of interests between the largest shareholder and the other large shareholders, so that …
Persistent link: https://www.econbiz.de/10012974325
The increase in institutional ownership, the shift towards passive portfolio management and the rise of common ownership have transformed OECD countries financial markets in the last decades. The paper investigates the potential consequences of these transformations on firm's productivity, using...
Persistent link: https://www.econbiz.de/10014435855
Tax codes regularly create conflicts of interests between small and large shareholders with respect to the payout … shareholders. Based on an extensive data set covering 3,944 European firms over the 1999-2008 period, we find that payout behavior … preferences of minority shareholders are more likely to be partially reflected in the payout decision. Our results are stable …
Persistent link: https://www.econbiz.de/10013066380
certification of foreign institutional investors mitigates domestic minority shareholders’ mistrust of controlling shareholders …’ reform plans and facilitates the SSSR. Domestic minority shareholders cast fewer dissenting votes and complete the SSSR with … institutional investors’ prestige is a key factor in aligning domestic minority shareholders towards seeking long-term payoffs. With …
Persistent link: https://www.econbiz.de/10014265273
This study investigates the transition from being a listed company with a dispersed ownership structure to being a privately held company with a concentrated ownership structure. We consider a sample of private equity backed portfolio companies to evaluate the consequences of the corporate...
Persistent link: https://www.econbiz.de/10010225758
model with strategic interaction between managers and outside shareholders, we hypothesize that, while an increase in the …
Persistent link: https://www.econbiz.de/10010199748
Direct experience of a peer's punishment might make non-punished peers reassess the probability and consequences of facing punishment and hence induce a change in their behavior. We test this mechanism in a setting, China, in which we observe the reactions to the same peer's punishment by listed...
Persistent link: https://www.econbiz.de/10011973941