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The Wealth of Private Firm Owners Following Reverse Mergers
Greene, Daniel - 2015
I compare the wealth of private firm owners that exit their firms through reverse mergers (RMs) to the wealth that could have been obtained in initial public offerings (IPOs), sellouts, or by remaining private. Private firm owners that use the RM exit mechanism have significantly less post-exit...
Persistent link: https://www.econbiz.de/10013029211
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Investor Sentiment and Antitrust Law as Determinants of Corporate Ownership Structure : The Great Merger Wave of 1897 to 1903
Cheffins, Brian R. - 2010
A great merger wave occurring in the United States between 1897 and 1903 was the single most important event in a … dispersed share ownership. The merger wave of 1897 to 1903 illustrates that surges in demand for shares founded upon optimistic …
Persistent link: https://www.econbiz.de/10014103270
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Mergers and the Evolution of Patterns of Corporate Ownership and Control : The British Experience
Cheffins, Brian R. - 2010
regime where widely-held public companies dominate. In the discourse, little has been said about the contribution of merger … manner in which anti-competitive behaviour is regulated influences the extent to which transformative merger activity takes …
Persistent link: https://www.econbiz.de/10014069991
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Corporate Payout Policy in Dual-Class Firms
Jordan, Bradford D. - 2013
Using a sample of U.S. firms from 1995 to 2002, we examine corporate payout policy in dual-class firms. The expropriation hypothesis predicts that dual-class firms pay out less to shareholders because entrenched managers want to maximize the value of assets under control and the private benefits...
Persistent link: https://www.econbiz.de/10013091802
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Ownership Structure, Control Contestability, and Corporate Debt Maturity
Ben‐Nasr, Hamdi - 2015
The corporate governance literature has shown that self-interested controlling owners tend to divert corporate resources for private benefits at the expense of other shareholders. Such behavior leads the controlling owners to prefer long maturity debt to short maturity debt, to avoid frequent...
Persistent link: https://www.econbiz.de/10013014423
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Corporate Blockholders and Financial Leverage
Bui, Thuy - 2018
This research investigates the relationship between corporate block ownership and firm financial leverage. Corporate blockholders, which are nonfinancial firms who hold more than five percent equity in a target industrial firm, can affect the target firm's policies through their business...
Persistent link: https://www.econbiz.de/10012911552
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Who cares? : corporate governance in today's equity markets
Isaksson, Mats; Çelik, Serdar - 2013
There are two main sources of confusion in the public corporate governance debate. One is the confusion about the role of public policy intervention. The other is a lack of empirical knowledge about the corporate landscape where rules are supposed to be implemented and the functioning of...
Persistent link: https://www.econbiz.de/10009775539
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Common Ownership and ESG Performance : Evidence from Institutional Mergers
Khoo, Kenneth - 2022
“Common Ownership” is a phenomenon where shareholders hold substantial stakes in firms that impose externalities on each other. The “Common Ownership” hypothesis suggests that these shareholders may internalize some of these externalities amongst their portfolio firms. While most of the...
Persistent link: https://www.econbiz.de/10013292827
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Takeover, Distress, and Equity Issuance : Evidence from Korea
Cho, Euna - 2019
We study the motive and the economic effects of takeover in Korea, which has not been actively studied due to … relation to financial distress, and that some companies tend to be targeted repeatedly. However, after the takeover, the …
Persistent link: https://www.econbiz.de/10012867437
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The Power to Decide on Takeovers : Directors or Shareholders, What Difference Does It Make?
Gatti, Matteo - 2014
contribution is to show who actually has power in a takeover and what factors are at work to give such power. Although directors … are traditionally considered to be in charge in deciding the outcome of a hostile takeover of a Delaware corporation … lack the power to determine the outcome of a takeover bid, the reason for that is not embedded in the takeover regime …
Persistent link: https://www.econbiz.de/10014153473