Narrow search
Showing 1 - 10 of 30,487
Cover Image
Global Common Ownership, Control, and Market Power
Kilcioglu, Beril - 2023
I study the simultaneous ownership of equity of competing companies by the same investor, i.e., common ownership, in 39,867 publicly listed corporations in 125 countries between 2000-2020. I construct a global data set to document the prevalence of common ownership in multiple forms, including...
Persistent link: https://www.econbiz.de/10014351160
Cover Image
The persistent ownership concentration of private firms
Bøhren, Øyvind; Iancu, Diana; Radulescu, Georgiana; … - 2020
We find that ownership changes much less over time in private firms than in public firms. The average largest shareholder in private (public) Norwegian firms keeps the same stake in 82% (14%) of two consecutive years. In private firms past ownership dominates ownership determinants proposed in...
Persistent link: https://www.econbiz.de/10012433547
Cover Image
Ownership, Control and Market Liquidity
Ginglinger, Edith - 2015
We examine how ownership concentration and the separation of ownership and control affect secondary-market liquidity in France. We find that firms with a large insider blockholder exhibit significantly lower liquidity. However, different methods of enhancing control affect liquidity in different...
Persistent link: https://www.econbiz.de/10013036769
Cover Image
Agency Problem and Ownership Structure : Outside Blockholder as a Signal
Stepanov, Sergey - 2015
We propose a model in which an entrepreneur, seeking outside financing, sells a large equity share to an outside blockholder in order to signal his low propensity to extract private benefits. A conventional theoretical rationale for the presence of an outside blockholder is mitigation of the...
Persistent link: https://www.econbiz.de/10013033135
Cover Image
Earnings Management and Corporate Governance in Family-Controlled Companies
Bar-Yosef, Sasson; Prencipe, Annalisa - 2009
Corporate governance literature advances the idea that certain aspects of board of directors' structure improve monitoring of managerial decisions. Among these is the managers' decision to manage earnings. Prior studies have shown that earnings management, in widely-held public companies, is...
Persistent link: https://www.econbiz.de/10014209639
Cover Image
The dynamic endogeneity issue between corporate ownership structure and real-based earnings manipulation in an emerging market : advanced dynamic panel model
Attia, Eman Fathi; Mehafdi, Messaoud - In: Risks : open access journal 11 (2023) 11, pp. 1-27
conflicting theoretical perspectives, including agency theory, institutional theory, stewardship theory, and resource dependence … theory, resulting in inconsistent empirical findings. To the best of the authors' knowledge, this study is the first to … detect Real-earnings manipulation practices (REM) in the Egyptian context using six models to confirm the validity …
Persistent link: https://www.econbiz.de/10014435753
Cover Image
Index membership vs. loss of voting power : the unification of dual-class shares
Betzer, André; Bongard, Inga van den; Goergen, Marc - 2017 - This version: March 2017
A change in the index selection rules of Deutsche Börse provides a unique opportunity to investigate the drivers behind the decision to a bolish dual-class shares. As of June 2002, selection is based on the market capitalization of the free-float of the more liquid share class rather than the...
Persistent link: https://www.econbiz.de/10011794012
Cover Image
Bank owners or bank managers : who is keen on risk? ; evidence from the financial crisis
Gropp, Reint; Köhler, Matthias - 2010
In this paper, we analyse whether bank owners or bank managers were the driving force behind the risks incurred in the wake of the financial crisis of 2007/2008. We show that owner controlled banks had higher profits in the years before the crisis, and incurred larger losses and were more likely...
Persistent link: https://www.econbiz.de/10003941710
Cover Image
Path Dependence or Convergence? The Evolution of Corporate Ownership Around the World
Yeh, Andy - 2016
We derive and develop a simple and intuitive model that shines fresh light on the relentless debate over whether corporate ownership converges to the Berle-Means modern corporation with high stock ownership dispersion. Our model takes into account the importance of both protective legal...
Persistent link: https://www.econbiz.de/10013004147
Cover Image
Revisiting Executive Pay in Family-Controlled Firms
Cheong, Juyoung - 2014
According to the prior literature, family executives of family-controlled firms receive lower compensation than non-family executives. One of the key driving forces behind this is the existence of family members who are not involved in management, but own significant fraction of shares and...
Persistent link: https://www.econbiz.de/10013047067