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We analyse the relationship between the distribution of ownership and the allocation <p> of control in Danish closely held corporations. First, we investigate why firms have boards. Second, <p> we identify relationships between owners, boardmembers and CEOs in these firms. Third, we show <p> the presence...</p></p></p>
Persistent link: https://www.econbiz.de/10005419478
Abstract: The paper explores the impact of the great enlargement of Europe (European Union and Council of Europe) to the east on the judicial interaction between the EU, the ECHR and the Member States legal orders. In order to appraise the dynamic and prospective nature of the enlargement, in...
Persistent link: https://www.econbiz.de/10008611180
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/10010986382
Persistent link: https://www.econbiz.de/10010987711
The objective of our study is to look for anequilibrium among three factors: the privatebenefits that main shareholders can obtain fromthe firm, the social benefits derived from acertain ownership structure (such assupervision and alignment of interests) and thecosts derived from ownership...
Persistent link: https://www.econbiz.de/10010989417
between the internal mechanisms of Corporate Governance and Earnings Management measured by discretionary accrual. We use a … effectiveness of the government and the earnings management behavior. As policy implications, we document how when a country …, this leads to a reduction in firm earnings management. Copyright The Author(s) 2014 …
Persistent link: https://www.econbiz.de/10010990008
New business practices are mainly characteristic of large firms, especially those quoted on the stock market. Listed companies show a higher commitment to corporate social responsibility (CSR) practices because capital markets allow activists to become a firm’s socially oriented shareholders....
Persistent link: https://www.econbiz.de/10010991548
New business practices are mainly characteristic of large firms, especially those quoted on the stock market. Listed companies show a higher commitment to corporate social responsibility (CSR) practices because capital markets allow activists to become a firm’s socially oriented shareholders....
Persistent link: https://www.econbiz.de/10010991554
In the theoretical framework of corporate governance this article studies the efficiency of the control exerted by the ownership structure and the board of directors on managers. The confrontation of entrenchment theory and agency theory allows to determine the necessary conditions of the...
Persistent link: https://www.econbiz.de/10010861596
This paper proposes a brief review of the use of power indices in the corporate governance literature. Without losing sight of the field of application, it places the emphasis on the game-theoretic aspects of this research and on the issues that arise in this framework. It should be noted that...
Persistent link: https://www.econbiz.de/10010883238