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Corporate Governance relates to mechanisms through which providers of resources to the firm get their share of resources in return. Adequate governance practices help develop capital markets and assist market forces in attaining efficient contracts. Convincing evidence exists that well developed...
Persistent link: https://www.econbiz.de/10005813742
Based on panel data from 1995 – 1997, the paper focuses on the impact of ownership structure on the performance of Russian non-financial privatized companies that constitute the group of "blue chips" of the country's stock market. We find that ownership concentration results in higher...
Persistent link: https://www.econbiz.de/10005650266
Based on panel data from 1995 – 1997, the paper focuses on the impact of ownership structure on the performance of Russian non-financial privatized companies that constitute the group of "blue chips" of the country's stock market. We find that ownership concentration results in higher...
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
observed in the past few years. The corporate governance in Russia started formulating in the nineties of the 20th century as a … Russia’s companies, including the model of companies’ owners, the role of the state both in the ownership structure and in … system in Russia. …
Persistent link: https://www.econbiz.de/10011123283
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/10005121359
We study whether Russian Financial-Industrial Groups facilitate access by Russian firms to investment finance. We … control set of large firms categorized by dispersed ownership or/and management and employee control. We find that investment … reallocation hide opportunistic value transfer across firms. Specifically, we assess the quality of the investment process in group …
Persistent link: https://www.econbiz.de/10005677603
The finding and setting of a business target is the starting point whenever dealing with corporate governance; the autonomy of companies to define those targets is one constitutive characteristic of any market economy. Regulatory demands as the standardization of the German...
Persistent link: https://www.econbiz.de/10011141150
We examine whether Delaware serves as a domestic tax haven. We find that taxes play an important role in determining whether U.S. firms locate subsidiaries in Delaware and that these tax factors are economically important when compared to the legal and governance factors considered in prior...
Persistent link: https://www.econbiz.de/10010925687
We examine whether Delaware is a domestic tax haven. We find that taxes play an economically important role in determining whether U.S. firms locate subsidiaries in Delaware and that a Delaware-based state tax avoidance strategy lowers state effective tax rates by between 0.7 and 1.1 percentage...
Persistent link: https://www.econbiz.de/10010665559