announcements of GPTs generate a cumulative average abnormal return of about 22% and that pre-transaction shareholders on average … mitigate the inefficiencies induced by pre-transaction agency problems between controlling and minority shareholders. Thus …

This paper examines the effect of controlling shareholders on stock price synchronicity by focusing on two salient … controlling shareholders tend to disclose less firm-specific information to conceal opportunistic practices. Additionally, this … the conjecture that controlling shareholders are more likely to hoard bad information when their control rights exceed …

This article examines the effect of multiple large shareholders (MLS) on debt choice. Using a sample of 654 French … listed firms over the period 1998-2013, we find that reliance on bank debt increases with the presence and voting power of … MLS on debt choice is more pronounced when agency problems between controlling and minority shareholders are more severe …

The U.S. equity market has witnessed the rising power of institutional investors over the past three decades. Yet, even …