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An intense academic debate has arisen recently concerning the crucial bedrock that underpins a corporate governance regime where widely-held public companies dominate. In the discourse, little has been said about the contribution of merger activity. The paper seeks to address this gap by...
Persistent link: https://www.econbiz.de/10014069991
This paper examines the origins of investor protection under the common law by analysing the development of shareholder protection in Victorian Britain, the home of the common law. In this era, very little was codified, with corporate law simply suggesting a default template of rules....
Persistent link: https://www.econbiz.de/10011523499
This paper examines the origins of investor protection under the common law by analysing the development of shareholder protection in Victorian Britain, the home of the common law. In this era, very little was codified, with corporate law simply suggesting a default template of rules....
Persistent link: https://www.econbiz.de/10011521411
Core institutions of UK corporate governance, in particular those relating to takeovers, board structure and directors' duties, are strongly orientated towards a norm of shareholder primacy. Beyond the core, in particular at the intersection of insolvency and employment law, stakeholder...
Persistent link: https://www.econbiz.de/10013120335
This study investigates the transition from being a listed company with a dispersed ownership structure to being a privately held company with a concentrated ownership structure. We consider a sample of private equity backed portfolio companies to evaluate the consequences of the corporate...
Persistent link: https://www.econbiz.de/10010225758
This article explores the rising tension between shareholder and director power in the common law world. First the … common law jurisdictions. Secondly, the article discusses power shifts in the opposite direction – namely toward the board … rules designed to enhance shareholder power, and commercial practices designed to subvert it. It shows how strategic …
Persistent link: https://www.econbiz.de/10012857567
In the late nineteenth century Britain had almost no mandatory shareholder protections, but had very developed financial markets. We argue that private contracting between shareholders and corporations meant that the absence of statutory protections was immaterial. Using circa 500 articles of...
Persistent link: https://www.econbiz.de/10012891681
Atlantic. We show that the regulation of bankers' pay is presently more detailed and less flexible in Europe than in the US …
Persistent link: https://www.econbiz.de/10013091649
We examine whether stricter non-compliance sanctions on corporate governance regulations influence the investment decisions of foreign portfolio investors in emerging markets. To answer this question we use a natural experiment provided by a corporate governance regulatory reform introduced in...
Persistent link: https://www.econbiz.de/10012979333
ownership. Where the corporate governance system can be seen to support partnership, it is in conjunction with market regulation …
Persistent link: https://www.econbiz.de/10013120337