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Chapter 8. Blockholders: A Survey of Theory and Evidence
Edmans, Alex; Holderness, Clifford G. - 2017
blockholder governance through both voice (direct intervention) and exit (selling one's shares). We survey the empirical evidence … corporate governance. We start with the underlying property rights of public corporations; we discuss how blockholders are … active in firm governance. We then examine what distinguishes a blockholder from an ordinary shareholder and advocate …
Persistent link: https://www.econbiz.de/10014023374
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Managerial Ownership of Debt and Bank Loan Contracting
Wang, Cong - 2011
Debt ownership by equity-holding managers aligns their incentives more closely with those of creditors, thereby reducing agency costs of debt. We test this hypothesis by examining how terms of bank loans are related to executive pension and deferred compensation, i.e., inside debt held by...
Persistent link: https://www.econbiz.de/10013132581
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Asset Owners and Delegated Managers
Ang, Andrew - 2012
can be mitigated by appropriate governance structures and contracts. The benchmark choice is important because poorly …
Persistent link: https://www.econbiz.de/10013103917
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Does Institutional Ownership Promote the Transformation of Underperforming Firms?
Erenburg, Grigori - 2013
We focus on firms that chronically underperform and evaluate ways that institutional investors can facilitate the redeployment of assets to higher valued uses. Our evidence indicates that institutional holdings affect firm survival. Increases in institutional holdings are associated with...
Persistent link: https://www.econbiz.de/10013091476
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Public vs Private Ownership, Board Structure and Fund Manager Turnover
Adams, John C. - 2014
We examine the relation between organizational structure (public vs private) and managerial turnover in a large sample of U.S. offered mutual funds. Consistent with the hypothesis that publicly traded firms focus more on shorter term performance, we find that public sponsors are more sensitive...
Persistent link: https://www.econbiz.de/10013070669
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Ownership Structure, Control Contestability, and Corporate Debt Maturity
Ben‐Nasr, Hamdi - 2015
The corporate governance literature has shown that self-interested controlling owners tend to divert corporate …
Persistent link: https://www.econbiz.de/10013014423
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Do Blockholder Incentives Matter? Evidence from Firm Innovation
Chang, Chinghung (Henry) - 2018
effect on innovation can be mitigated by sound corporate governance, as measured by the presence of independent directors …
Persistent link: https://www.econbiz.de/10012908541
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Good Corporate Governance Mechanism, Size, Managerial Ownership Structure, and Leverage at Earning Management in Indonesian Public's Banking
Pasaribu, Rowland Bismark - 2017
Corporate Social Responsibility Disclosure in Manufacture Public Companies at Indonesian Stock Exchange. This research aimed at knowing the influence of audit quality, proportion of independent commissioner, audit committee, firm size, managerial ownership and leverage. It used purposive...
Persistent link: https://www.econbiz.de/10012943080
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Common Ownership, Common Information Environment?
Jang, In Ji - 2019
We examine the influence of common ownership on commonalities in the information environment. Specifically, we study commonalities in financial statements and in the actions of key agents such as financial analysts and firm managers who contribute and respond to the information environment....
Persistent link: https://www.econbiz.de/10012866578