Showing 1 - 10 of 578
Persistent link: https://www.econbiz.de/10014247333
Persistent link: https://www.econbiz.de/10009793409
Persistent link: https://www.econbiz.de/10012798981
This paper studies why multinational firms often share ownership of a foreign affiliate with a local partner even in … the absence of government restrictions on ownership. We show that shared ownership may arise, if (i) the partner owns …. In this context shared ownership acts as a screening device. Our model predicts that the multinational?s ownership share …
Persistent link: https://www.econbiz.de/10010296282
This paper outlines the foundations of corporate governance. The discussion includes a review on the modern corporation, transaction costs theory, agency costs theory, legal investor protection, investor protection by corporate governance and its various mechanisms, as well as an overview of the...
Persistent link: https://www.econbiz.de/10011390672
Banks play a role in the corporate governance of firms as well as acting as debt financiers around the world. Universal banks can have control over borrowing firms by representation on the board of directors or by holding shares through direct stakes or institutional holdings. We investigate the...
Persistent link: https://www.econbiz.de/10011605112
This paper analyses ownership and control structures of Dutch listed companies. Legislation effective since 1992 … that the average ownership stakes of the largest and the three largest shareholders are 27% and 41%, respectively. The … average ownership stakes of banks, insurance companies and other financial institutions are relatively low. We observe that …
Persistent link: https://www.econbiz.de/10011608486
The paper analyses the ownership structure of a large sample of Spanish listed companies. The results are analysed in … terms of governance implications under the agency theory context. The results show a picture with concentrated ownership … where stock markets are relatively low important. Direct ownership and voting blocks, which account for indirect ownership …
Persistent link: https://www.econbiz.de/10011608487
We first analyse legal provisions relating to corporate transparency in Germany. We show that despite the new securities trading law (WpHG) of 1995, the practical efficacy of disclosure regulation is very low. On the one hand, the formation of business groups involving less regulated legal forms...
Persistent link: https://www.econbiz.de/10011608520
This paper provides an overview on ownership structure and voting power in France, both in terms of institutional and … that concentration of direct ownership and voting power is very high in France, even for listed and CAC40 firms. The second …-listed firms. The average ownership stakes of banks, insurance companies and other financial institutions are relatively low …
Persistent link: https://www.econbiz.de/10011608525