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firm-years and over 172,000 shareholders, we find that the largest providers of capital were rentiers, men with no formal …
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It is a ubiquitous corporate governance phenomenon in many countries that shareholders pledge their ownership as … shareholders. With a sample consisted of 21,921 firm-year observations from 2007 to 2018, we find a significant casual negative …
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In recent years, stock pledge financing has prevailed in China. Individual shareholders’ stock-pledge announcements … individual controlling shareholders between 2006 and 2020 and investigates, through event study (ES) analysis, the market …
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We study long-run shareholder outcomes for over 64,000 global common stocks during the January 1990 to December 2020 period. We document that the majority, 55.2% of U.S. stocks and 57.4% of non-U.S. stocks, underperform one-month U.S. Treasury bills in terms of compound returns over the full...
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shareholders, the empirical evidence has shown only its value destruction to shareholders. This paper offers an (partial … effect is larger for (32~43 bps) for financially constrained firms and firms whose controlling shareholders have more shares …
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