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Economic consequences of private equity investments on the German stock market
Achleitner, Ann-Kristin; Andres, Christian; Betzer, André - 2008
This paper investigates the wealth effects of private equity (PE) investor purchases of shares in German quoted companies. It is the first study to analyze these effects for the German market which is particularly interesting due to its distinct characteristics with regard to the ownership...
Persistent link: https://www.econbiz.de/10010305716
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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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Blockholder Dispersion and Firm Value
Konijn, Sander J.J.; Kraeussl, Roman; Lucas, Andre - 2009
This paper analyzes the impact of blockownership dispersion on firm value. Blockholdings by multiple blockholders is a widespread phenomenon in the U.S. market. It is not clear, however, whether dispersion among blockholder is preferable to having a more concentrated ownership structure. To test...
Persistent link: https://www.econbiz.de/10010325997
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Monitoring managers: does it matter?
Cornelli, Francesca; Kominek, Zbigniew; Ljungqvist, … - 2010
We test under what circumstances boards discipline managers and whether such interventions improve performance. We …
Persistent link: https://www.econbiz.de/10010272503
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Do Entrenched Managers Pay Their Workers More?
Cronqvist, Henrik; Heyman, Fredrik; Nilsson, Mattias; … - 2005
find that entrenched managers pay their workers more. For example, our estimates show that CEOs with more control rights … as evidence of agency problems between shareholders and managers affecting workers' pay. The findings do not appear to be … with an agency model in which entrenched managers pay high wages because they come with private benefits, such as lower …
Persistent link: https://www.econbiz.de/10010320116
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Disentangling the link between stock and accounting performance in acquisitions
Betzer, André; Goergen, Marc - 2011
While empirical studies that use event-study methodology find on average that the gains from mergers and acquisitions are positive, those focusing on accounting figures tend to find a significant drop in performance. We argue that each of the four possible combinations between positive or...
Persistent link: https://www.econbiz.de/10010291123
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Corporate Governance und Unternehmenserfolg - Eine empirische Analyse des Zusammenhangs zwischen den Führungs-, Kontroll- und Anreizstrukturen und der Geschäftsentwicklung deutsche...
Steinbrecher, Johannes - 2016
Das internationale Bankensystem stand in den vergangenen Jahren im Fokus des öffentlichen Interesses. Bei der Diskussion möglicher Optionen zur Verbesserung der Finanzsystemstabilität rückt zunehmend die Corporate Governance in Banken in den Fokus. Der vorliegende Forschungsbericht widmet...
Persistent link: https://www.econbiz.de/10011698354
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Firm performance and family related directors: Empirical evidence from an emerging market
Hendrawaty, Ernie - In: Contemporary Economics 13 (2019) 2, pp. 187-204
Board composition is central to the worldwide corporate governance reforms that have taken place in recent years. The strong emphasis on director independence and board leadership is now part of all corporate governance regimes, including the regimes which has been introduced in Malaysia. It is...
Persistent link: https://www.econbiz.de/10014544599
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Ownership Concentration and Firm Performance in Transition Economies: Evidence from Montenegro
Kalezić, Zorica - In: Journal of Central Banking Theory and Practice 4 (2015) 3, pp. 5-64
The relationship between ownership concentration and firm performance has been the focal point of corporate governance literature and the subject of rather rich empirical literature. However, the current literature lacks uniformity and consensus regarding the nature and direction of this...
Persistent link: https://www.econbiz.de/10012217812
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Institutional investors, corporate governance and firm performance in an emerging market: evidence from Vietnam
In: Cogent Economics & Finance 11 (2023) 1, pp. 1-20
This study examines the relationship between institutional investors, corporate governance, and firm performance in Vietnam. The findings on Vietnamese listed companies indicate that while institutional investors are less likely to hold shares of companies with larger board sizes, Chief...
Persistent link: https://www.econbiz.de/10015074626