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The Fortis Bank takeover court case demonstrates how shareholders' claims can make a merger and takeover case less … speedy and, indeed, more costly. The case also raises a number of legal issues relating to corporate governance in a takeover … situation such as the role of minority shareholders, the role of the state vis-à-vis the board in a financial rescue plan, the …
Persistent link: https://www.econbiz.de/10012998313
This paper describes the results of a study supported by the Thai Stock Exchange, that examined the relationship of five factors, family ownership, legal protection for investors, corporate governance practice of shareholder rights, cash flow and bank performance, to minority shareholder rights...
Persistent link: https://www.econbiz.de/10013117873
How does bank integration affect the market for corporate control for nonfinancial firms? We provide causal evidence that interstate bank deregulation affects acquisitions mainly through reducing the information asymmetry between acquirers and targets, instead of increased credit supply. After...
Persistent link: https://www.econbiz.de/10012900778
This paper studies the link between the agency costs of equity and the agency costs of debt. Using a unique sample of the ownership structure of single and dual class firms as well as hand-collected data on loan contracts, we find that the agency cost of debt – proxied by various loan...
Persistent link: https://www.econbiz.de/10013091502
over management's portfolio selection. The paper demonstrates that rational shareholders - that anticipate these endogenous …
Persistent link: https://www.econbiz.de/10011921926
The paper aims to empirically assess the threshold effect in the large shareholders (LS) and bank performance … large shareholders-bank performance relationship. Additionally, results show that this effect differs across regions. More … specifically, we found that, below the threshold, large shareholders significantly decrease bank performance for the whole sample …
Persistent link: https://www.econbiz.de/10014584308
Although bank mergers have been a topic of ongoing research in the USA, particularly in view of reforms instituted by the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994, the evidence on shareholder wealth effects in European bank mergers is thin. A key question is whether...
Persistent link: https://www.econbiz.de/10013147117
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