Showing 1 - 10 of 24,007
This paper studies the drivers behind the monitoring effectiveness of institutional investors in curbing earnings management in an international setting. We identify three distinct drivers and propose two competing hypotheses: the hometown advantage hypothesis predicts that because of proximity...
Persistent link: https://www.econbiz.de/10013007336
broadly accepted that corporations - particularly the world's largest publicly traded corporations – need to be governed with … Modern Corporation Project at Cass Business School, launched the Corporate Governance for a Changing World Roundtable Series … together more than 260 leaders in business management, investment, regulation and academic and civil society communities with …
Persistent link: https://www.econbiz.de/10012987369
A corporate governance model built around hierarchical structures, in which authority and empowerment flows through the board of directors to management and eventually staff, and the board is responsible to shareholders (the owners) of a company, worked well in an era of industrial capitalism,...
Persistent link: https://www.econbiz.de/10012989082
regulating securities, investment companies, and tender offers, state antitakeover legislation, state court decisions on hostile … corporate takeovers and “poison pill” defenses, as well as European Union directives on takeovers and alternative investment … to incumbent management. The chapter also examines the diametrically opposed ethical views of PE funds as investment …
Persistent link: https://www.econbiz.de/10013050580
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
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
of the world’s leading corporations, and the persistence of nationally compartmentalized approaches to the study of …. Empirically, we show that three quarters of the world’s 205 largest firms by sales are linked to a single global company network …
Persistent link: https://www.econbiz.de/10014131266
We review and bridge the literature on the internationalization of state-owned firms and sovereign wealth funds to provide a novel understanding of how governments’ nonbusiness objectives affect foreign investments. We explain how governments as foreign investors behave differently from...
Persistent link: https://www.econbiz.de/10013294864
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
with international institutional investment. Changes in institutional ownership over time positively affect subsequent … suggest that international portfolio investment by institutional investors promote good corporate governance practices around … the world …
Persistent link: https://www.econbiz.de/10013115965