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Multinational Firms, Internal Capital Markets, and the Value of Global Diversification
Sturgess, Jason - 2012
Over the period 1980-2007 multinational firms' investment grew four times faster than worldwide GDP. Yet the evidence on whether global diversification is valuable is inconclusive. This paper uses detailed FDI data for 251 UK multinational firms and 4,676 subsidiaries to show that multinational...
Persistent link: https://www.econbiz.de/10013114610
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Globalizing Trust? Transferring Anglo-American Minority Shareholder Protections to Civil Law Germany
Halberstam, Michael - 2008
This paper critically examines the conventional view that the lack of fiduciary duty protections for corporate shareholders in civil law systems explains crucial differences in corporate structure and finance. It questions the thesis that the structure of civil law systems militates against the...
Persistent link: https://www.econbiz.de/10014214432
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Does Governance Travel Around the World? Evidence from Institutional Investors
Aggarwal, Reena - 2012
the world …
Persistent link: https://www.econbiz.de/10013115965
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International entrepreneurship without investor protection : evidence from initial public offerings in Belgium before the First World War
Deloof, Marc; Paeleman, Ine - In: The economic history review 77 (2024) 2, pp. 523-553
Persistent link: https://www.econbiz.de/10014534858
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Globalization, Governance, and the Returns to Cross-Border Acquisitions
Ellis, Jesse A. - 2011
Using a sample of control cross-border acquisitions from 61 countries from 1990 to 2007, we find that acquirers from countries with better governance gain more from such acquisitions and their gains are higher when targets are from countries with worse governance. Other acquirer country...
Persistent link: https://www.econbiz.de/10013131906
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Corporate Governance for a Changing World : Report of a Global Roundtable Series
Veldman, Jeroen - 2016
broadly accepted that corporations - particularly the world's largest publicly traded corporations – need to be governed with … corporate attention. As a result, the normative and theoretical framework of corporate governance theory and practice continue … Modern Corporation Project at Cass Business School, launched the Corporate Governance for a Changing World Roundtable Series …
Persistent link: https://www.econbiz.de/10012987369
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Why is IPO Underpricing a Global Phenomenon?
Booth, James - 2010
We explain why initial underpricing of new issue exists globally and is not arbitraged away in an efficient market. We argue that initial underpricing is a natural by-product of liquidity-motivated ownership dispersion requirements and divergence of opinion. In our framework, as shares are...
Persistent link: https://www.econbiz.de/10013138881
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Global Ownership and Corporate Control Networks
Rungi, Armando - 2019
In this contribution, at first, we introduce a basic network framework to study pyramidal structures and wedges between ownership and control of companies. Then, we apply it to a dataset of 53.5 million of companies operating in 208 countries. Among others, we detect a strong concentration of...
Persistent link: https://www.econbiz.de/10012901128
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Accessing Private Markets Globally : Contracts and Costs
Lim, Wayne - 2022
This paper examines contracts and the costs of accessing private markets globally. Contract terms vary by fund region and type. European funds charge lower fees than US funds, but evidence linking regulation to fee compression is weak. Investors’ costs are estimated to be 5% to 26% of...
Persistent link: https://www.econbiz.de/10014255326
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Growing Global Needs for ACU-Denominated Reserve Assets
Choi, Gongpil - 2014
the region and the world as repeatedly dictated by the reality. Specifically, introduction of ACU-type of reserve assets …
Persistent link: https://www.econbiz.de/10013044370