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Corporate governance is concerned with the resolution of collective action problems among dispersed investors and the reconciliation of conflicts of interest between various corporate claimholders. In this survey we review the theoretical and empirical research on the main mechanisms of...
Persistent link: https://www.econbiz.de/10014023875
. Using c.500 articles of association and ownership records of publicly-traded Victorian corporations, we find that … shareholder protection had more diffuse ownership. …
Persistent link: https://www.econbiz.de/10011523499
. Using c. 500 articles of association and ownership records of publicly-traded Victorian corporations, we find that … shareholder protection had more diffuse ownership. …
Persistent link: https://www.econbiz.de/10011521411
This paper analyses the German corporate law reform's effect on the publicly listed companies' ownership and … an empirical analysis using 1997-2008 panel data consisting of ownership, Tobin's Q, and sales growth follows. Empirical … evidence shows that ownership has become more dispersed (the total number of shareholders is larger) and that it had a positive …
Persistent link: https://www.econbiz.de/10013133571
's Reform in 2004, to their corporate governance and ownership structures. This research has a twofold target. For one extent it … the paper provides a wide analysis of the ownership structures of unlisted joint stock Italian companies and of the …
Persistent link: https://www.econbiz.de/10013081101
findings, it can be expected that after a time lag ownership concentration would decrease in continental Europe. However, our … evidence is mixed. The analysis of the development of shareholder structures from different perspectives - ownership … concentration, shareholder classes and ownership distribution - revealed only limited support for the Law and Finance arguments. The …
Persistent link: https://www.econbiz.de/10014197939
: French-speaking directors are prevalent in Swiss French boards and German-speaking directors in Swiss German boards. More … importantly, however, boards of these two parts of Switzerland are more likely to be structured as in their respective neighboring …
Persistent link: https://www.econbiz.de/10009565389
We allow the preference of a political majority to determine boththe corporate governance structure and the division of profits betweenhuman and financial capital. In a democratic society where financialwealth is concentrated, a political majority may prefer to restraingovernance by dispersed...
Persistent link: https://www.econbiz.de/10011337975
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 … comparable public companies. These performance differences come from the increase in ownership concentration after the leveraged …
Persistent link: https://www.econbiz.de/10010225758
This study examines changes in block ownership for a large sample of listed and non-listed German firms. The frequency … ownership (control transfers). Such changes are more likely for firms with high leverage, while they are less likely for larger … firms and firms with high ownership concentration. Only for listed firms poor performance is related to more frequent …
Persistent link: https://www.econbiz.de/10011445220