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This paper contributes to the comparative corporate governance literature by showing how cross-country differences in governance and legal standards affect the bondholder wealth effects of European merger and acquisitions (M&As).Using investment-grade Eurobonds, we find some remarkable...
Persistent link: https://www.econbiz.de/10011090642
This article examines the influence of equity capital ownership on human resource management practices. The empirical analysis uses the 2004-2005 Workplace Industrial Relations Survey (REPONSE survey), based on a sample of 2,930 establishments with 20 workers or more, representative of the...
Persistent link: https://www.econbiz.de/10005696766
This article examines the influence of equity ownership structure (stock market listing and identity of shareholders) on human resource management practices. The empirical analysis uses the 2004-2005 Workplace Industrial Relations Survey (REPONSE survey), based on a sample of 2930 establishments...
Persistent link: https://www.econbiz.de/10005560139
researchers pay a particular attention to banking governance. Specifically, shareholders-managers’ convergence of interests and … negative effect on performance. The results also reveal that managers lack control while the board of directors seems to exert …
Persistent link: https://www.econbiz.de/10008694021
constraints that act on these processes, leave managers with considerable power to shape their own pay arrangements. Examining the …
Persistent link: https://www.econbiz.de/10005114260
mitigating agency problems between managers and shareholders.We find that both the CEO's industry-adjusted monetary compensation …
Persistent link: https://www.econbiz.de/10011092291
instrument for addressing the agency problem between managers and shareholders but also as part of the agency problem itself … managers. As a result, managers wield substantial influence over their own pay arrangements, and they have an interest in … reducing the saliency of the amount of their pay and the extent to which that pay is de-coupled from managers’ performance. We …
Persistent link: https://www.econbiz.de/10005662270
This paper assesses conflicts of interest between banks and their client firms via the merger transaction by examining the wealth gain of merger acquirers who were listed on the Tokyo Stock Exchange in 1990–2004. The paper reports two main findings. First, acquiring firms did not gain from...
Persistent link: https://www.econbiz.de/10010729579
This paper deals with the development of corporate governance in companies in the Czech Republic and Great Britain in 2012-2013. Aim of this paper is not only to become familiar with the basic regulations of the issue, but also draw attention to the state of corporate governance in the area of...
Persistent link: https://www.econbiz.de/10011194607
Familienunternehmen gelten in der öffentlichen Wahrnehmung als besonders innovativ und als Hidden Champions der deutschen Wirtschaft. In jüngster Zeit widmen sich Forscher vermehrt der Überprüfung dieser These und kommen zu diametral unterschiedlichen Ergebnissen. Einerseits wird...
Persistent link: https://www.econbiz.de/10010984777