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-controlling shareholders are different because the former are able to divert a fraction of the profits. We find that when investor protection … by the non-controlling shareholders. The empirical analysis supports the predictions of the model. In particular …
Persistent link: https://www.econbiz.de/10010261366
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rights - limiting excessive risk taking - positively affects foreign shareholders, whereas strong protection of shareholder …
Persistent link: https://www.econbiz.de/10010270453
We develop a model of endogenous lobby formation in which wealth inequalityand political accountability undermine entry and financial development. In-cumbents seek a low level of effective investor protection to prevent potentialentrants from raising capital. They succeed because they can...
Persistent link: https://www.econbiz.de/10010325212
to shareholders also appears as relevant. Significant differences emerge in OECD and non-OECD countries. In wealthy …
Persistent link: https://www.econbiz.de/10011608587
-voting) shareholders to veto unfavorable changes in their class rights. Based on a novel hand-collected dataset of dual class stock … significant effect of improved protection of preferred shareholders on the value of their shares. The result is robust to several …
Persistent link: https://www.econbiz.de/10010269433
-voting) shareholders to veto unfavorable changes in their class rights. Based on a novel hand-collected dataset of dual class stock … significant effect of improved protection of preferred shareholders on the value of their shares. The result is robust to several …
Persistent link: https://www.econbiz.de/10010271090
minority shareholders. Firms can additionally look for capital by issuing ADRs, as they have in recent years, although this …
Persistent link: https://www.econbiz.de/10010278256
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