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Minority shareholdings have been on the regulatory agenda of competition authorities for some time. Recent empirical studies, however, draw attention to a new, thought provoking theory of harm: common ownership by institutional investors holding small, parallel equity positions in several...
Persistent link: https://www.econbiz.de/10013241599
Important capital market, regulatory and technological developments have created greater investor appetite and capacity for engagement with public companies. This development is highlighted by investors’ current efforts to engage with companies in various markets on material environmental,...
Persistent link: https://www.econbiz.de/10014348828
A fast-growing legal literature commenting on a set of empirical papers alleging anticompetitive effects of common ownership claims that the reported effects, if true, would imply that corporate executives violate their fiduciary duty: whereas acting in the interest of common owners can help...
Persistent link: https://www.econbiz.de/10012911211
Horizontal shareholdings exist when a common set of investors own significant shares in corporations that are horizontal competitors in a product market. Economic models show that substantial horizontal shareholdings are likely to anticompetitively raise prices when the owned businesses compete...
Persistent link: https://www.econbiz.de/10013004193
This document describes the current business operating environment, identifies the socio-economic reasons that make corporate controls mandatory for the current organizations (private, public, etc.) all over the world, and a methodology for designing corporate strategic and operational control...
Persistent link: https://www.econbiz.de/10014170952
Rationales for a stakeholder model of corporate governance are based on enlightened self-interest, moral imperative …, and/or externalities. Of these, the externalities rationale holds the most promise to justify a stakeholder focus. Recent … evidence, however, indicates that the benefits of a stakeholder focus are limited because the social costs of many corporate …
Persistent link: https://www.econbiz.de/10013233105
The separation of control and ownership – the ability of a small group effectively to control a company though holding a minority of its cash flow rights – is common throughout the world, but also is commonly decried. The control group, it is thought, will use its position to consume...
Persistent link: https://www.econbiz.de/10013064979
The paper studies the link between the integration of European financial markets and corporate governance in Europe. The focus of the paper is on how integration affects the interplay of ownership structures, capital structures, and monitoring, all of which can be used to govern agency problems...
Persistent link: https://www.econbiz.de/10010503151
It is one of the well-known cornerstones of corporate governance that (minority) share-holders are subject to a risk of being expropriated by the controller of the firm, i.e. either entrenched management under a dispersed ownership structure or a controlling share-holder under concentrated...
Persistent link: https://www.econbiz.de/10011734959
Persistent link: https://www.econbiz.de/10001707287