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Gesamtwirtschaftliche Implikationen des Shareholder-Value-Konzepts
Jens, Uwe - In: Ifo Schnelldienst 53 (2000) 11, pp. 08-15
Das Shareholder-Value-Konzept wird von Bankern, Analysten, Kapitalgebern und vielen Betriebswirten als ein wichtiger Lösungsansatz zur Reform verkrusteter Unternehmensstrukturen gelobt. Gleichzeitig wird es von etlichen Politikern, Intellektuellen, Gewerkschaften und Volkswirten als ein...
Persistent link: https://www.econbiz.de/10005014177
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The shareholder value and diversification puzzle
Marinelli, Federico - IESE Business School, Universidad de Navarra - 2010
Diversified firms are supposed to be valued less than the sum of their parts because of the diversification discount …, but subsequent research has found that the relationship between diversification and shareholder value is not causal. We … analyze the relationship between diversification and shareholder value taking into consideration the persistence of profit …
Persistent link: https://www.econbiz.de/10008641482
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What Drives the Shareholder Value?
Pandey, I. M. - In: Asian Academy of Management Journal of Accounting and … 1 (2005) 1, pp. 105-120
In the strategy literature a lot of emphasis is placed on growth as a dominant business strategy. Is growth always desirable? The finance literature, on the other hand, focuses more on economic profitability and value. This study empirically explores the significance of profitability and growth...
Persistent link: https://www.econbiz.de/10010850715
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Accounting systems and environmental decision making: what costs, what benefits?
Schilizzi, Steven; Lesourd, Jean-Baptiste - Australian Agricultural and Resource Economics Society … - 2001
The environmental accounting literature covers both public and private, or corporate, fields. The needs of private firms differ from public organisations in that environmental accounting systems must pay for themselves. Stakeholder analysis and the so-called triple bottom line forget that...
Persistent link: https://www.econbiz.de/10010917824
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A Rose by Any Other Name: Are Family Firms Named After Their Founding Families Rewarded More for Their New Product Introductions?
Kashmiri, Saim; Mahajan, Vijay - In: Journal of Business Ethics 124 (2014) 1, pp. 81-99
The authors explore the relation between the way different family firms are named, and the shareholder value impact of these firms’ new product introductions. Using an event study of 1,294 product introduction announcements of 107 publicly listed U.S. family firms, the authors find that the...
Persistent link: https://www.econbiz.de/10010938079
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Corporate governance and maximisation of the shareholder value: theoretical evidence from CFA zone in Africa
Nosseyamba, Benjamin Ouedraogo - In: African Journal of Accounting, Auditing and Finance 1 (2012) 2, pp. 209-222
This research looks at the theoretical impact of corporate governance on shareholder value maximisation in some countries of the CFA zone in Africa. Data from Burkina Faso, Cameroon, Côte d'Ivoire and Gabon covering the period 2005 to 2009 were used and theoretical analysis done. Theoretical...
Persistent link: https://www.econbiz.de/10011015211
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Shareholder value creation in Japanese banking
Radić, Nemanja - In: Journal of Banking & Finance 52 (2015) C, pp. 199-207
This paper advances the study of Fiordelisi and Molyneux (2010) by examining the shareholder value efficiency and its determinants for a large sample of Japanese banks between 1999 and 2011. A new, specifically tailored measure of the Economic Value Added approach, based on the shadow price of...
Persistent link: https://www.econbiz.de/10011209838
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The certification value of private debt renegotiation and the design of financial contracts: Empirical evidence from Europe
Godlewski, Christophe J. - In: Journal of Banking & Finance 53 (2015) C, pp. 1-17
By using a sample of bank loan renegotiations by European firms, I show that the renegotiation of financial contracts bears a certification value, while deeply changing the contractual features of the loan over time, to the benefit of shareholders. I find that amendments to financial covenants...
Persistent link: https://www.econbiz.de/10011209846
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Shareholder value and equilibrium rate of unemployment
Piluso, Nicolas; Colletis, Gabriel - In: Economics Bulletin 32 (2012) 4, pp. 3233-3242
The aim of this article is to analyse the consequences of the constraint of shareholder value creation on wages and on unemployment rates in equilibrium. We will show that the shareholder value created by a firm directly depends on the payroll. Therefore, both the firm's and the Unions' new...
Persistent link: https://www.econbiz.de/10011278842
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The Economics of Bank Restructuring: Understanding the Options; Understanding the Options
Landier, Augustin; Ueda, Kenichi - International Monetary Fund (IMF) - 2009
Based on a simple framework, this note clarifies the economics behind bank restructuring and evaluates various restructuring options for systemically important banks. The note assumes that the government aims to reduce the probability of a bank’s default and keep the burden on taxpayers...
Persistent link: https://www.econbiz.de/10011245869