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How corporate governance and globalization can run afoul of the law and good practices in business: The Enron's disgraceful affair
Apreda, Rodolfo - 2002
The purpose of this paper is to set out the Enron's demise into the perspective of Corporate and Global Governance. To …, transaction costs and agency problems. Then, corporate governance is linked to globalization by means of some recent approaches … are explained from corporate and global governance viewpoints, while an in-depth analysis is worked out on Enron's complex …
Persistent link: https://www.econbiz.de/10010323056
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Globalisation of business in a small country: Does ownership matter?
Ali-Yrkkö, Jyrki; Ylä-Anttila, Pekka - 2001
Globalisaation seurauksena erityisesti pienten maiden yritysten omistajapolitiikka ja -rakenne sekä johtamis- ja valvontajärjestelmät (corporate governance) ovat muuttuneet. Tässä tutkimuksessa tarkastellaan Suomessa toimivien yritysten omistajien kansallisuuden vaikutusta yritysten...
Persistent link: https://www.econbiz.de/10010285215
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Globalization of Corporate Covernance: The American Influence on Dismissal Performance Sensitivity of European CEOs
Jungeilges, Jochen A.; Oxelheim, Lars; Randoy, Trond - 2010
This study examines how globalization of corporate governance practices influence the risk of European CEOs being … dismissed. We argue that the harsh monitoring of the American corporate governance system spills over to the rest of the world … as a result of this globalization. We focus on direct and indirect American influence on the dismissal performance …
Persistent link: https://www.econbiz.de/10010320346
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Are Forced Turnovers Good or Bad News?
Kind, Axel; Schläpfer, Yves - 2011
To gain insights about the quality of board's firing decisions, we investigate abnormal stock returns and operating performance around CEO-turnover announcements in a new hand- collected sample of 208 “clean” turnover events between January 1998 and June 2009. Unlike the majority of previous...
Persistent link: https://www.econbiz.de/10011390666
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Diversification and ownership concentration
Parigi, Bruno Maria; Pelizzon, Loriana - 2005
We consider a mean-variance general equilibrium economy where the expected returns for controlling and non-controlling shareholders are different because the former are able to divert a fraction of the profits. We find that when investor protection is poor, asset return correlation affects...
Persistent link: https://www.econbiz.de/10010261366
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The positive economics of corporatism and corporate governance
Fehn, Rainer; Meier, Carsten-Patrick - 2000
This paper presents a positive model which shows that institutional setups on capital and labor markets might be intertwined by politicoeconomic forces. Two politicoeconomic equilibria arise from our model, one with little protection of insiders on capital and labor markets, and another one with...
Persistent link: https://www.econbiz.de/10010265445
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Bank owners or bank managers: who is keen on risk? Evidence from the financial crisis
Gropp, Reint E.; Köhler, Matthias - 2010
In this paper, we analyse whether bank owners or bank managers were the driving force behind the risks incurred in the wake of the financial crisis of 2007/2008. We show that owner controlled banks had higher profits in the years before the crisis, and incurred larger losses and were more likely...
Persistent link: https://www.econbiz.de/10010299988
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Institutional investors, corporate ownership and corporate governance: Global perspectives
Gillan, Stuart L.; Starks, Laura T. - 2002
activism. We then examine differences in ownership structures around the world and the implications of the interactions of …
Persistent link: https://www.econbiz.de/10010279069
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The positive economics of labor market rigidities and investor protection
Fehn, Rainer; Meier, Carsten-Patrick - 2001
This paper presents a positive model which shows that institutional setups on capital and labor markets might be intertwined by politicoeconomic forces. Some countries especially in continental Europe exhibit a corporatist politicoeconomic equilibrium with a sustantial protection of insiders on...
Persistent link: https://www.econbiz.de/10010316080
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Path Dependence, Corporate Governance and Complementarity
Schmidt, Reinhard H.; Spindler, Gerald - 2000
In a series of recent papers, Mark Roe and Lucian Bebchuk have developed further the concept of path dependence, combined it with concepts of evolution and used it to challenge the wide-spread view that the corporate governance systems of the major advanced economies are likely to converge...
Persistent link: https://www.econbiz.de/10010316240