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Working Paper; 2002, Journal of Finance 57(2), 2741–2771) provide empirical evidence regarding expropriation arising from the … separation of cash flow from voting rights in Asian firms. Their analysis suggests a high degree of expropriation in Hong Kong …, Indonesia, Malaysia, and Thailand. We re-examine the problem of expropriation in Asian firms reported by earlier research. We …
Persistent link: https://www.econbiz.de/10005674068
: K22
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This technical note assesses the reform of Spanish savings banks (SSBs). It provides a brief overview of the SSB institutional framework before the reform, and describes the main factors that led to the financial distress, albeit uneven, of the SSB sector. The note outlines major regulatory and...
Persistent link: https://www.econbiz.de/10011244106
Israel’s compliance with International Organization of Securities Commissions’ objectives and Principles of Securities Regulation has been assessed. The regulatory regime is well developed and in most respects is comparable with that of major jurisdictions. For the most part, it is...
Persistent link: https://www.econbiz.de/10011242660
the amount of funds they contribute, that is, universities with high expropriation risk, are associated with lower outside …
Persistent link: https://www.econbiz.de/10011258770
protecting minority shareholders from expropriation by controlling shareholders. Using data from publicly traded Chinese firms …, Johnson and Shleifer (2001) that securities-market regulation can create substantial value for minority shareholders in a …
Persistent link: https://www.econbiz.de/10011260290
In this survey, we describe the current state of corporate governance in Russia and discuss its dynamics and prospects. We review the main mechanisms of corporate governance in the country and relate them to firms’ ownership structures, financial market development and government influence....
Persistent link: https://www.econbiz.de/10005086543
shareholders perceive firms affiliated with business groups to have relatively lower transparency and weaker corporate governance … that investors view the business-group as a mechanism to expropriate minority shareholders. On the other hand, the …
Persistent link: https://www.econbiz.de/10009363288