Showing 1 - 10 of 123,451
who free-ride off the monitor. We test this prediction in the setting where large shareholders contractually bind …
Persistent link: https://www.econbiz.de/10012584426
This article will analyse the different duties to disclose imposed on shareholders. The focus is on public limited … normally held by shareholders, and increasingly it is also extended to those who are associated with the shareholders in … imposing too many duties on shareholders. It can be debated whether these few incidents are just anomalies or whether they are …
Persistent link: https://www.econbiz.de/10012993091
This study investigates whether conference calls accompanying M&A announcements in Europe provide valuable information for capital market participants and hence induce an abnormal stock price revaluation on the bidder’s equity. Based on handpicked data for transactions between 2008 and 2012 we...
Persistent link: https://www.econbiz.de/10011848217
blockholder when the cost of activism is low or the created value is high. Such a reform would favor minority shareholders …
Persistent link: https://www.econbiz.de/10012965976
The SEC’s proposed climate disclosure rule has generated substantial controversy. Among the concerns raised by commentators is that the rule is unnecessary because investors can obtain sufficient climate-related disclosure through private ordering. We examine one mechanism for private ordering...
Persistent link: https://www.econbiz.de/10014349749
This paper analyses lawsuits against shareholders' resolutions according to the German Stock Corporation Act (AktG) and … lawsuit is pending with a court. In particular, mergers have to be implemented without any delay. The minority shareholders … voting power of minority shareholders and create incentives to use the real option inefficiently. Therefore, the majority …
Persistent link: https://www.econbiz.de/10013058808
federal securities regulation. The Shareholders United Act (the “Act”) — passed by the House of Representatives as part of H … political spending, public companies poll shareholders on how they want corporate political dollars to be spent, or not spent ….The Act offers an answer to the question as a matter of corporate democracy, what do shareholders need to know about how …
Persistent link: https://www.econbiz.de/10012890216
.S. But we argue that outside investors in European listed firms with controlling shareholders are poorly protected compared … shareholders rather than shielding passive investors, is not well suited for controlled, listed firms. This approach translates … into a lack of definition and development of specific fiduciary duties of the controlling shareholders towards market …
Persistent link: https://www.econbiz.de/10012940905
This paper studies the market-level effects of litigation rights in an imperfectly competitive capital market with a market maker, an information-acquiring investor, and liquidity traders. Litigation rights have the following equilibrium effects. (i) The investor acquires more private...
Persistent link: https://www.econbiz.de/10014265520
The role and position of shareholders within a listed public company has been a subject of debate on both the national … conferred upon shareholders in such a company and, consequently, on the active or effective exercise of those rights by the same … shareholders. In this contribution, we focus on one particular core concept, namely the right that is conferred upon shareholders …
Persistent link: https://www.econbiz.de/10012958259