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find that executives in all five are concerned with the roles of their firms in society, with those in Japan most so and …
Persistent link: https://www.econbiz.de/10012974557
This study investigates the determinants of changes in corporate ownership and firm failure, taking into account different types of sellers and buyers of control blocks. For a large panel of German corporations we find that firms are more likely to fail or to be sold when performance is poor,...
Persistent link: https://www.econbiz.de/10010297800
This study examines changes in block ownership for a large sample of listed and non-listed German firms. The frequency of block trading is similar to other countries, and the vast majority of block trades leads to changes in ultimate ownership (control transfers). Such changes are more likely...
Persistent link: https://www.econbiz.de/10011445220
This study provides new stylized facts on the determinants of corporate failure and acquisition in Germany. It also offers important lessons for the design of empirical studies. We show that firms experiencing failure or acquisition are significantly different from surviving firms on a number of...
Persistent link: https://www.econbiz.de/10011446202
This paper analyses lawsuits against shareholders' resolutions according to the German Stock Corporation Act (AktG) and the German Reorganisation Act (UmwG). A merger passed at the General Annual Meeting will not move forward as long as any lawsuit is pending with a court. In particular, mergers...
Persistent link: https://www.econbiz.de/10013058808
If a bidder launches a takeover offer for a listed company being part of a stock market index, then index funds and …. This paper analyzes the impact of index fund and ETF ownership on the success of takeover offers in Germany. Based on a … sample of 323 takeover offers of publicly listed German companies between 2006 and 2018, we document a significant negative …
Persistent link: https://www.econbiz.de/10012864050
This case provides background material about the takeover attempt of one of the world's largest automobile …
Persistent link: https://www.econbiz.de/10013111547
We analyze a hand-collected dataset of 1669 executive compensation packages at 34 firms included in the main German stock market index (DAX) for the years 2006- 2014 in order to investigate the impact of the 2009 say on pay legislation. First, we observe that the compensation packages of...
Persistent link: https://www.econbiz.de/10011539853
This paper investigates the impact of family control and institutional investors on CEO pay packages in Continental Europe, using a large data set of 915 listed firms with 4,045 firm-year observations from 14 countries over the period 2001-2008. We find that family control curbs the level of CEO...
Persistent link: https://www.econbiz.de/10013132662
The role of outside directors is one of the key features in the transatlantic corporate governance debate. As their importance rises, their liability is also attracting attention. Since there are only a few cases internationally in which outside directors of listed companies have been held...
Persistent link: https://www.econbiz.de/10013137966