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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
, outlook, and ideology, have also empowered activist shareholders.There are strong normative arguments for disempowering … shareholders and, accordingly, for rolling back the gains shareholder activists have made. Whether that will prove possible in the … corporate efficiency and performance, especially by holding poorly performing boards of directors and top management teams to …
Persistent link: https://www.econbiz.de/10012905275
culture: it increases results-orientation but decreases customer-focus, integrity, and collaboration. Shareholders initially …-induced changes in culture are not in shareholders' long-term interests since firm value declines by 1.4% through this channel …
Persistent link: https://www.econbiz.de/10012905162
‘Shareholder rights' are the legal entitlements of shareholders via-a-vis companies in which they invest. A large body … that without accountability, managers and dominant shareholders will use their power to further their own interests at the … rights in ways that can be excessive. This can harm not only other constituencies but also shareholders, as it can promote …
Persistent link: https://www.econbiz.de/10012842156
I analyze the allocation of the power to decide on hostile takeovers between directors and shareholders. My …, shareholders nevertheless may have the power to reverse the outcome via a vote. I argue that even though shareholders sometimes … removability, shareholders’ inability to call special meetings or to act by written consent, supermajority rules, proxy and …
Persistent link: https://www.econbiz.de/10014153473
Crowdfunding, a new Internet-based securities market, was recently authorized by federal and state law in order to create a vibrant, diverse, and inclusive system of entrepreneurial finance. But will people really send their money to strangers on the Internet in exchange for unregistered...
Persistent link: https://www.econbiz.de/10013009706
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
the protection of shareholders against shirking of the board members and the officers increased significantly. The … protection of minority shareholders against the expropriation of major shareholders remained unchanged. In light of these … suggests that other variables, like the presence of activist shareholders, might be much more influential than the development …
Persistent link: https://www.econbiz.de/10014197939
Pragmatic and effective research on corporate governance often turns critically on appreciating the legal institutions surrounding corporate entities—yet such nuances are often unfamiliar or poorly specified to economists and other social scientists without legal training. This chapter...
Persistent link: https://www.econbiz.de/10014023367