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We review the governance role of private equity (PE) firms in companies that have experienced an LBO. We conjecture that PE firms may provide powerful remedies to agency conflicts associated with public and private firms, such as managerial entrenchment and opportunism
Persistent link: https://www.econbiz.de/10013131653
, Germany and Japan …
Persistent link: https://www.econbiz.de/10014027002
Using a data set for 162 largest Hungarian firms during the period of 1994-1999 this paper explores the determinants of equity shares held by both foreign investors and by Hungarian corporations. We find evidence of a post-privatisation evolution towards more homogeneous equity structures, where...
Persistent link: https://www.econbiz.de/10011597686
examine interrelationships between corporate governance, managers' independence from owners in terms of strategic decision …-making, exporting and performance. It is found that managers' independence is positively associated with firms' financial performance … and exporting. In turn, the extent of managers' independence is negatively associated with ownership concentration, but …
Persistent link: https://www.econbiz.de/10014057850
Using a data set for 162 largest Hungarian firms during the period of 1994-1999 this paper explores the determinants of equity shares held by both foreign investors and by Hungarian corporations. We find evidence of a post-privatisation evolution towards more homogeneous equity structures, where...
Persistent link: https://www.econbiz.de/10011335737
Building on the ‘law and economics’ literature, this paper analyses corporategovernance implications of debt financing in an environment where a dominant owner isable to extract ex ante ‘private benefits of control’. Ownership concentration may result inlower efficiency, measured as a...
Persistent link: https://www.econbiz.de/10005868255
examine interrelationships between corporate governance, managers’ independence from owners in terms of strategic decision …-making, exporting and performance. It is found that managers’ independence is positively associated with firms’ financial performance … and exporting. In turn, the extent of managers’ independence is negatively associated with ownership concentration, but …
Persistent link: https://www.econbiz.de/10005784774
Persistent link: https://www.econbiz.de/10000122198
Persistent link: https://www.econbiz.de/10010476686
Persistent link: https://www.econbiz.de/10002530308