and the value of cash to shareholders. Exploiting decimalization as an exogenous shock to stock liquidity to identify the … cash holdings and a positive effect on the value of cash to shareholders. Further analysis indicates that exit threat …

conditional model the results indicate that after controlling for the self-selection bias effect, shareholders of bidder firms …

shareholders may not be socially optimal in banks. -- Banks ; risk taking ; corporate governance ; ownership structure ; financial …

In this study, we examine international differences in firms' cost of equity capital around the world. Specifically, we … and how the presence of controlling shareholders affects the relationship between labor protection institutions and the … presence of controlling shareholders, especially in the case of a family controlling owner. The economic magnitude of such …

Purpose: The purpose of this paper is to examine the effect of private benefits of control on minority shareholders … theoretical model shows that, while private benefits are generally harmful to minority shareholders, the overall effect depends on …