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When heirs become major shareholders : evidence on tunneling and succession through related-party transactions
Kim, U-chʾan; Hwang, Sunwoo - 2014
In family firms, the succession of controlling equity stake to next generation is an issue of paramount importance. This, however, can be a major challenge in the presence of heavy inheritance or gift tax burden (high tax rate and absence of tax-saving vehicles, such as trusts or foundations)...
Persistent link: https://www.econbiz.de/10010355189
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The Impact of Board Composition on the Dividend Policy of US Firms
Thompson, Ephraim Kwashie; Adasi Manu, Sylvester - 2021
Purpose: This paper examines whether the characteristics of boards are more important in determining dividend policy … than management characteristics. We show that as the final declarers of dividend policy is a firm’s board, the composition … of a firm’s board significantly subsumes the effect of management characteristics that may also influence dividend policy …
Persistent link: https://www.econbiz.de/10013245082
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Dividend decisions in the property and liability insurance industry: mutual versus stock companies
Zou, Hong; Yang, Chuanhou; Wang, Mulong; Zhu, Minglai - In: Review of quantitative finance and accounting 33 (2009) 2, pp. 113-139
Persistent link: https://www.econbiz.de/10003880531
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The US Financial Crisis and Corporate Dividend Reactions : For Better or for Worse?
Hilliard, Jitka - 2018
We examine how changes in dividend policy in 2008 as the financial crisis was unfolding influenced firm risk … these firms into four groups based on their dividend policy in 2008. We find that firms that decreased or eliminated …
Persistent link: https://www.econbiz.de/10012930819
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U.S. Hedge Fund Activism
Partnoy, Frank - 2015
Notwithstanding the focus on hedge fund activism, fundamental questions remain. How much does hedge fund activism really matter? What has academic study contributed to the understanding of hedge fund activism? And what, if anything, does research on hedge fund activism illuminate about the...
Persistent link: https://www.econbiz.de/10013025518
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Corporate Governance and Tax Avoidance : Evidence from U.S. Cross-listing
Chen, Ruiyuan (Ryan) - 2020
shareholders and reduces managerial diversion. This finding is consistent with the view that firm- and country-level corporate …
Persistent link: https://www.econbiz.de/10012848818
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Are Shareholder Proposals an Important Corporate Governance Device? Evidence from US and UK Shareholder Proposals
Buchanan, Bonnie - 2015
In the past decade, as a result of many interrelated changes in the economic environment, the role and the pressures on the corporate governance of firms have been significantly transformed in the US and the UK. To test the magnitude of this changed environment, we study one aspect of corporate...
Persistent link: https://www.econbiz.de/10013039032
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Proxy Rules and Proxy Practices : An Empirical Study of US and UK Shareholder Proposals
Buchanan, Bonnie - 2015
In May 2009, the SEC proposed the most significant amendments to proxy rules since 1942. We build comprehensive samples of US and UK shareholder proposals for the period 2000-2006 to study the relation between proxy rules and proxy practices and the effect of shareholder proposals on firm...
Persistent link: https://www.econbiz.de/10013039333
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Stock market returns, corporate governance and capital market equilibrium
Parigi, Bruno; Pelizzon, Loriana; Thadden, Ernst-Ludwig von - 2013
This paper proposes a theoretical model that incorporates corporate governance into the basic CAPM, where corporate governance affects the disutility of managerial effort and the possibility of managers to divert company resources. It shows that corporate governance affects firms’ stock...
Persistent link: https://www.econbiz.de/10010212666
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Quantifying foreign institutional block ownership at publicly traded U.S. corporations
Coates, John C.; Fein, Ronald A.; Crenny, Kevin; Dong, … - 2016
This short technical report provides an empirical analysis of the level of institutional block ownership overall, and of foreign block ownership, at a broad set of publicly traded corporations. Disclosed institutional blockholders of every company in the Standard & Poor's 500 index are analyzed,...
Persistent link: https://www.econbiz.de/10011581995