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Investor protection and share prices : evidence from statutory rules governing variations of shareholders' class rights in Russia
Muravyev, Alexander - 2009
This paper uses a quasi-experimental framework provided by recent changes in Russian corporate law to study the effect of investor protection on the value of shares. The legal change analyzed involves the empowerment of preferred (non-voting) shareholders to veto unfavorable changes in their...
Persistent link: https://www.econbiz.de/10003818743
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Dual class stock in Russia : explaining a pricing anomaly
Muravyev, Alexander - In: Emerging markets finance & trade : a journal of the … 45 (2009) 2, pp. 21-43
Persistent link: https://www.econbiz.de/10003849495
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Dual class stock in Russia : what explains the price differential between common and preferred shares?
Muravyev, Alexander (contributor) - 2007
This paper aims to explain the large premium paid on common (voting) shares relative to preferred (non-voting) shares in the Russian stock market. Empirical analysis focuses on two main explanations relating the premium either to the voting right attached to common shares or to differences in...
Persistent link: https://www.econbiz.de/10003440052
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Investor protection and the value of shares : evidence from statutory rules governing variations of shareholders’ class rights in Russia
Muravyev, Alexander - 2009
This paper uses a quasi-experimental framework provided by recent changes in Russian corporate law to study the effect of investor protection on the value of shares. The legal change analyzed involves the empowerment of preferred (non-voting) shareholders to veto unfavorable changes in their...
Persistent link: https://www.econbiz.de/10003932236
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Investor protection and the value of shares : evidence from statutory rules governing variations of shareholders' class rights in an emerging market
Muravyev, Alexander - In: The journal of law, economics, & organization 29 (2013) 6, pp. 1344-1383
Persistent link: https://www.econbiz.de/10010340953
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Investor protection and share prices: evidence from statutory rules governing variations of shareholders' class rights in Russia
Muravyev, Alexander - 2009
This paper uses a quasi-experimental framework provided by recent changes in Russian corporate law to study the effect of investor protection on the value of shares. The legal change analyzed involves the empowerment of preferred (non-voting) shareholders to veto unfavorable changes in their...
Persistent link: https://www.econbiz.de/10010271090
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Dual Class Stock in Russia: What Explains the Price Differential between Common and Preferred Shares?
Muravyev, Alexander - 2007
This paper aims to explain the large premium paid on common (voting) shares relative to preferred (non-voting) shares in the Russian stock market. Empirical analysis focuses on two main explanations relating the premium either to the voting right attached to common shares or to differences in...
Persistent link: https://www.econbiz.de/10010260910
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Investor Protection and the Value of Shares : Evidence from Statutory Rules Governing Variations of Shareholders' Class Rights in Russia
Muravyev, Alexander - 2010
This paper uses a quasi-experimental framework provided by recent changes in Russian corporate law to study the effect of investor protection on the value of shares. The legal change analyzed involves the empowerment of preferred (non-voting) shareholders to veto unfavorable changes in their...
Persistent link: https://www.econbiz.de/10013149514
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Investor Protection and Share Prices : Evidence from Statutory Rules Governing Variations of Shareholders' Class Rights in Russia
Muravyev, Alexander - 2009
This paper uses a quasi-experimental framework provided by recent changes in Russian corporate law to study the effect of investor protection on the value of shares. The legal change analyzed involves the empowerment of preferred (non-voting) shareholders to veto unfavorable changes in their...
Persistent link: https://www.econbiz.de/10014211089