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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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Blockholder dispersion and firm value
Konijn, Sander J. J.; Kräussl, Roman; Lucas, André - 2010
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/10010303754
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Ownership structure and voluntary disclosure in annual reports of Bangladesh
Rouf, Md. Abdur; Al-Harun, Abdullah - In: Pakistan Journal of Commerce and Social Sciences (PJCSS) 5 (2011) 1, pp. 129-139
This study examines the association between ownership structure and voluntary disclosure levels in the 2007 annual report of 94 samples of Bangladeshi listed companies. Ownership structure is provided by management ownership and institutional ownership. Using agency theory, it is argued that...
Persistent link: https://www.econbiz.de/10011938277
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Does corporate governance reform necessarily boost firm performance? Recent evidence from Russia
Kuznecovs, Mihails; Pal, Sarmistha - 2012
This paper examines whether the introduction of corporate governance (CG) reforms in general and that of transparency and disclosure (T&D) rules in particular can necessarily boost firm performance. Existing literature suggests that CG reforms can boost performance because it can resolve the...
Persistent link: https://www.econbiz.de/10010282468
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The price of media capture and the looting of newspapers in interwar France
Bignon, Vincent; Flandreau, Marc - 2012
. Empirical data is consistent with increasing levels of looting in France during the 1930s. We provide a comparison with Britain …
Persistent link: https://www.econbiz.de/10010316814
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Setting a Fox to Keep the Geese: Does the comply-or-explain principle work?
Andres, Christian; Theissen, Erik - 2008
The German Corporate Governance Code works according to the comply-or-explain principle. One of its recommendations was to publish the remuneration of the members of the executive board on an individual basis. We examine the characteristics of the firms that comply with the code requirement. Our...
Persistent link: https://www.econbiz.de/10010302533
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The effectiveness of the audit committee in Spain: Implications of its existence on the auditor's opinion
de Andrés Suárez, Javier; Cabal García, Elena; … - In: SERIEs - Journal of the Spanish Economic Association 4 (2013) 3, pp. 333-352
This research work is aimed at determining the effectiveness of the Audit Committee (AC), analyzing its impact on the reliability of accounting information issued by spanish listed companies. With this aim, we study whether certain features such as its voluntary or otherwise compulsory...
Persistent link: https://www.econbiz.de/10011650273
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Codes of Good Governance in Hungary
Bedo, Zsolt; Ozsvald, Eva - 2008
The purpose of the paper is to account for the short history of the soft law regulation of corporate conduct on the Budapest Stock Exchange (BSE). In theory, voluntary codes of good governance are expected to improve the deficiences of the existing mechanisms of corporate governance. In case of...
Persistent link: https://www.econbiz.de/10010494376
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On the impossibility of core-selecting auctions
Goeree, Jacob K.; Lien, Yuanchuan - In: Theoretical Economics 11 (2016) 1, pp. 41-52
When goods are substitutes, the Vickrey outcome is in the core and yields competitive seller revenue. In contrast, with … complements, the Vickrey outcome is efficient but not necessarily in the core and revenue can be low. Non-core outcomes may be … competitive equilibrium outcome, which always exists when goods are substitutes, can only be implemented when it coincides with …
Persistent link: https://www.econbiz.de/10011599562
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Equilibrium mergers in a composite good industry with efficiencies
Pardo-Garcia, Cristina; Sempere-Monerris, Jose J. - In: SERIEs - Journal of the Spanish Economic Association 6 (2015) 1, pp. 101-127
This paper studies equilibrium merging behavior in composite good industries. Component producers face the option to either merge with a similar component producer (horizontal merger) or a complementary one (vertical merger) of a composite good. Focusing only on strategic reasons, vertical...
Persistent link: https://www.econbiz.de/10011650299