Showing 1 - 10 of 4,383
This paper analyses lawsuits against shareholders' resolutions according to the German Stock Corporation Act (AktG) and … lawsuit is pending with a court. In particular, mergers have to be implemented without any delay. The minority shareholders … voting power of minority shareholders and create incentives to use the real option inefficiently. Therefore, the majority …
Persistent link: https://www.econbiz.de/10013058808
announcement events. Takeover announcements are not random because managers decide rationally whether to bid or not, this indicates … conditional model the results indicate that after controlling for the self-selection bias effect, shareholders of bidder firms …
Persistent link: https://www.econbiz.de/10013077619
.S. But we argue that outside investors in European listed firms with controlling shareholders are poorly protected compared … shareholders rather than shielding passive investors, is not well suited for controlled, listed firms. This approach translates … into a lack of definition and development of specific fiduciary duties of the controlling shareholders towards market …
Persistent link: https://www.econbiz.de/10012940905
This paper reviews the theoretical and empirical literature on the role of blockholders (large shareholders) in …
Persistent link: https://www.econbiz.de/10014023374
The Nasdaq Stock Market's enforcement activities offer a unique setting for investigating the consequences of changes in corporate governance as evidenced by deficiency notices. We document significant negative abnormal returns in response to Nasdaq deficiency notices for audit committee and...
Persistent link: https://www.econbiz.de/10012972580
a greater likelihood of goodwill impairment. Overall, our findings indicate that controlling shareholders increasingly … expropriate minority shareholders through self-serving corporate takeovers after the stock pledge …
Persistent link: https://www.econbiz.de/10012832661
We investigate the relation between corporate governance characteristics of hostile takeover targets and the choice to … employ 'harmful' resistance that is not perceived as being motivated by shareholders' interests. We find that harmful …
Persistent link: https://www.econbiz.de/10010337622
Globalization and liberalization have led firms from emerging markets like India to become more aggressive and opt for mergers and acquisitions (M&A) to fight the competitive battle. The present study attempts to evaluate the impact of mergers and acquisitions on the returns in the short run...
Persistent link: https://www.econbiz.de/10013016529
costs, to quantify the return to inversion for different shareholders. Foreign and tax-exempt investors, along with the … taxable shareholders. The model illustrates an agency conflict in which heterogeneity in personal taxes generates a wealth … transfer between shareholders. Furthermore, personal taxes offset the loss in government revenue by 39% …
Persistent link: https://www.econbiz.de/10012903773
In several recent cases, the Delaware Chancery Court has emphasized that where a conflict of interest exists between holders of a company's common stock and holders of its preferred stock, the standard of conduct for directors requires that they strive to maximize the value of the corporation...
Persistent link: https://www.econbiz.de/10013029752