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the US, the UK and Germany. France and Italy are also considered to round out the discussion of selected issues. Our key … in Germany, provide a basic governance structure that enables the use of specific governance strategies. It is the use of … supervisory board (Germany), and, as an alternative, reinstalling shareholder decision-making and thus removing the board from its …
Persistent link: https://www.econbiz.de/10013239424
United States, Japan, and Germany and endeavors to place them in a meaningful international legal, political, economic, and …
Persistent link: https://www.econbiz.de/10013054061
This is a chapter for the forthcoming book in West Publishing Company's Inside the Minds Series focusing on Financial Services Enforcement and Compliance (published by Aspatore Books). This chapter provides an overview of nature and current state of the markets for the equity side and debt...
Persistent link: https://www.econbiz.de/10013063503
We estimate the link between the court system and firm value by exploiting a U.S. Supreme Court ruling which changed firms' exposure to different courts. We find that exposure to courts which are highly ranked by the U.S. Chamber of Commerce increases firm value. The effect is driven by...
Persistent link: https://www.econbiz.de/10011489091
We estimate how U.S. state courts impact firm value by exploiting a U.S. Supreme Court ruling that exogenously changed firms' exposure to different courts. We find that increased exposure to more business-friendly courts is associated with positive announcement returns. We find no such...
Persistent link: https://www.econbiz.de/10012855906
We estimate the impact of U.S. state court characteristics on firm value by exploiting a U.S. Supreme Court ruling that exogenously changed firms' exposure to different courts. We find that increased exposure to more business-friendly courts is associated with positive announcement returns. We...
Persistent link: https://www.econbiz.de/10011850462
We study corporate philanthropy using an original database that includes firm-level data on dollar giving, giving priorities, governance, and managerial involvement in giving programs. Results provide some support for the theory that giving enhances shareholder value, as firms in the same...
Persistent link: https://www.econbiz.de/10010266426
We study corporate philanthropy using an original database that includes firm-level data on dollar giving, giving priorities, governance, and managerial involvement in giving programs. Results provide some support for the theory that giving enhances shareholder value, as firms in the same...
Persistent link: https://www.econbiz.de/10003287142
This article addresses the proposition advanced by academic and press commentators that European corporation law promotes stockholder welfare better than its U.S. counterpart. Those who express that view often point to the stronger rights afforded to stockholders under the laws of the European...
Persistent link: https://www.econbiz.de/10011496242
We investigate the effect of say-on-pay (SOP) proposals on changes in executive and director compensation. Relative to non-SOP firms, SOP firms' total compensation to CEOs does not significantly change after the proposal. Although the total compensation does not change, the mix of compensation...
Persistent link: https://www.econbiz.de/10013116361