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Dynamic capabilities : the role of board monitoring and managerial incentives
Asija, Aman; Ringov, Dimo - In: Business research quarterly : BRQ 24 (2021) 4, pp. 268-280
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
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Information Theory and the Role of Intermediaries in Corporate Governance
Schmidt, Reinhard H.; Tyrell, Marcel - 2004
We investigate the connection between corporate governance system configurations and the role of intermediaries in the respective systems from a informational perspective. Building on the economics of information we show that it is meaningful to distinguish between internalisation and...
Persistent link: https://www.econbiz.de/10010263309
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Ownership, Governance and US Securities Regulation : The Case for a 'Learning Regulator'
Pichhadze, Aviv - 2014
I examine whether the Securities and Exchange Commission (SEC) in the US is a learning organization (i.e., one that is capable of learning and adaptation to the dynamic nature of the securities markets – the subject of the SEC's regulatory oversight). Using the treatment of public corporate...
Persistent link: https://www.econbiz.de/10013068598
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Principal Costs : A New Theory for Corporate Law and Governance
Goshen, Zohar - 2017
The problem of managerial agency costs dominates debates in corporate law. Many leading scholars advocate reforms that … would reduce agency costs by forcing firms to allocate more control to shareholders. Such proposals disregard the costs that … solely on agency costs. Principal-cost theory also suggests different policy prescriptions. Rather than banning some …
Persistent link: https://www.econbiz.de/10012972091
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Measuring Common Ownership : The Role of Blockholders and Insiders
Amel-Zadeh, Amir; Kasperk, Fiona; Schmalz, Martin C. - 2022
We construct and analyze a new data set on U.S. corporate ownership to study how the inclusion of blockholders' and corporate insiders' holdings affects the measurement of common ownership among America's largest publicly traded firms. Including blockholders’ and insiders’ holdings reveals...
Persistent link: https://www.econbiz.de/10013292840
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Country Legal Environments and Corporate Investment Performance
Mueller, Dennis C. - 2015
In recent years considerable attention has been devoted to differences across countries in the institutional environments in which corporations operate, and the consequences of these institutional differences for corporate performance. In this paper we test for the presence of differences in...
Persistent link: https://www.econbiz.de/10013036901
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A Nash-in-Nash Model of Corporate Control and Oligopolistic Competition under Common Ownership
Vravosinos, Orestis - 2023
This paper proposes a model of corporate control and oligopolistic competition under common ownership. Each firm’s conduct results from Nash bargaining (NB) among shareholders and firms play a Nash equilibrium in Nash bargains. NB encompasses a rich class of models of corporate control under...
Persistent link: https://www.econbiz.de/10014354145
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The Strategies of Anticompetitive Common Ownership
Hemphill, C. Scott - 2020
' incentives to increase portfolio value are weak, reducing the likelihood that these investors will pursue mechanisms that carry …
Persistent link: https://www.econbiz.de/10012851909
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Debt, Control, and Collusion
Sokol, D. Daniel - 2021
Partial ownership of stock in multiple competing firms is an important scholarly and policy topic in both corporate and antitrust law. Until now, the discussion has focused on ownership. This essay shifts the debate from a focus on common ownership to a focus on common control. No prior work has...
Persistent link: https://www.econbiz.de/10013236520
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Varieties and Mechanisms of Common Ownership : A Calibration Exercise for Competition Policy
Tzanaki, Anna - 2021
Minority shareholdings have been on the regulatory agenda of competition authorities for some time. Recent empirical studies, however, draw attention to a new, thought provoking theory of harm: common ownership by institutional investors holding small, parallel equity positions in several...
Persistent link: https://www.econbiz.de/10013241599