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Corporate governance is a recent concept that encompasses the costs caused by managerial misbehavior. Corporate governance is concerned with how organizations in general, and corporations in particular, produce value and how that value is distributed among the members of the corporation, its...
Persistent link: https://www.econbiz.de/10011928257
dynamic capabilities are deployed may affect their value. Drawing on agency theory, we propose that corporate governance … propositions about the differential effect of two corporate governance mechanisms-board monitoring and managerial incentives-on the …
Persistent link: https://www.econbiz.de/10012694390
of agency conflict in family firms. We performed a qualitative analysis, through a case study, and found that the … constitution is useful in reducing three of the four agency conflicts described in the literature, specifically between family …
Persistent link: https://www.econbiz.de/10014281542
code, in which stewardship activities by institutional investors play an important role in terms of reduction of agency … cost. In this report, stewardship activities are focused based upon the idea that agency theory, newly introduced as … agency cost reduction. In order to make governance reform more effective, I make several proposals, cost sharing of …
Persistent link: https://www.econbiz.de/10014361849
-making has reinforced attention to shareholder stewardship as one of the pillars of corporate governance. But weak incentives to …
Persistent link: https://www.econbiz.de/10012507489
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
This survey provides an overview of theoretical and empirical research on information flows in corporations. It highlights key frictions preventing effective information flows and discusses how organizational structure and corporate governance can alleviate these frictions, focusing on three...
Persistent link: https://www.econbiz.de/10013403095
This survey provides an overview of theoretical and empirical research on information flows in corporations. It highlights key frictions preventing effective information flows and discusses how organizational structure and corporate governance can alleviate these frictions, focusing on three...
Persistent link: https://www.econbiz.de/10014287310
(agents). What is best for the asset owner, however, is usually not best for the fund manager. Additional agency conflicts …
Persistent link: https://www.econbiz.de/10013103917
We compare activism and takeovers from a blockholder's perspective who can invest effort into improving firm value. Profits from the two intervention modes move in opposite directions when the marginal return to effort changes such that activism, although less efficient, can be more profitable....
Persistent link: https://www.econbiz.de/10012856282