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one hand, the SEC's rejection appears to be a stunning blow to the shareholders' rights campaign because many shareholders … of majority voting and the adoption of the e-proxy rules. Because these developments provide shareholders with … shareholders …
Persistent link: https://www.econbiz.de/10013099005
explores the key engagement mechanisms and techniques employed today by public company shareholders. The paper’s analysis … phenomenon. Shareholders use, to varying degrees, a wide range of engagement techniques. These include the shareholder meeting … marshal the governance influence of such investors in recent high-profile cases. Second, shareholders often mix and match …
Persistent link: https://www.econbiz.de/10014348828
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 article answers, in the affirmative, two core research questions: do we need long-term shareholders and can we … find them? The economy needs long-term shareholders to provide prudent and profitable patient capital, generate an antidote … to corporate short-termism and spearhead managerial accountability. Finding these shareholders requires a structure that …
Persistent link: https://www.econbiz.de/10013092332
about how free markets can work to the benefit of all. Shareholders, not politicians, should decide how to run their … businesses, including whether a new management team could do better. There is only a limited set of circumstances where it might … preferable to a more protectionist approach, where change is resisted, competitive pressures are weakened, and shareholders …
Persistent link: https://www.econbiz.de/10013224806
shareholders’ property rights, it would also be a fundamental change in Company Law. Rules on shareholder primacy has been in force …
Persistent link: https://www.econbiz.de/10014351989
Controlling shareholders often pledge their ownership in the firm to offer collateral for either their personal loans … modification in the payoff structure can influence the incentives of controlling shareholders and have real effects on firm value … ownership of controlling shareholders and destroy firm value. On the contrary, share pledges for firm loans mitigate problems of …
Persistent link: https://www.econbiz.de/10012933687
management to supply more private information to that investor, and less public disclosure to other similarly aligned investors … who free-ride off the monitor. We test this prediction in the setting where large shareholders contractually bind … management to share private information. We find that after the execution of such contracts, firms improve their performance and …
Persistent link: https://www.econbiz.de/10012584426
.S. But we argue that outside investors in European listed firms with controlling shareholders are poorly protected compared … shareholders rather than shielding passive investors, is not well suited for controlled, listed firms. This approach translates … into a lack of definition and development of specific fiduciary duties of the controlling shareholders towards market …
Persistent link: https://www.econbiz.de/10012940905
Two models of the firm dominate corporate law. Under the management-power model, decision-making power rests primarily … to limit managerial authority. Both models view insiders and shareholders as engaged in a competitive struggle for … scholars and judges continue to debate the appropriate balance of power between shareholders and insiders, corporate practice …
Persistent link: https://www.econbiz.de/10012851659