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Shareholder Wealth Effects of Cultural Diversity Among Blockholders : Evidence From Cross-Border Acquisitions by US Listed Companies
Chen, Victor Zitian - 2019
corporate governance scholars should understand the nonfinancial motivations of shareholders when evaluating potential conflicts … controlling-versus-minority shareholders. Lastly, the PP literature should shift its rhetoric from conflicts to a good balance …
Persistent link: https://www.econbiz.de/10012893455
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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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Internal Corporate Control and the Dynamics of Post-Acquisition Boards : Evidence of U.S. Life Insurers
Xie, Xiaoying - 2015
more likely to be replaced if the takeover is disciplinary …
Persistent link: https://www.econbiz.de/10013012966
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Is future shareholder activism associated with current financial reporting quality? Evidence from the US
Adams, Tom - 2020
to actions taken by shareholders to change firm policies and practices. If issues are present in an investee's financial … reports, we expect shareholders to act to improve information quality and governance. Following prior literature, we adopt …
Persistent link: https://www.econbiz.de/10012849719
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Shareholder Proposal Rules and Practice : Evidence from a Comparison of the US and UK
Buchanan, Bonnie - 2015
device than US counterparts since they are binding and UK shareholders have the statutory right to call special meetings and … small shareholders and social proposals dominate the proposing scene of the US. Our results suggest that shareholders can … impact the corporate governance and firm performance but that the methods through which shareholders are empowered are …
Persistent link: https://www.econbiz.de/10013037433
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What Purpose Do Corporations Purport? Evidence from Letters to Shareholders
Rajan, Raghuram Govind; Ramella, Pietro; Zingales, Luigi - National Bureau of Economic Research - 2023
Using natural language processing, we identify corporate goals stated in the shareholder letters of the 150 largest companies in the United States from 1955 to 2020. Corporate goals have proliferated, from less than one on average in 1955 to more than 7 in 2020. While in 1955, profit...
Persistent link: https://www.econbiz.de/10014247976
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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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Shareholders Have a Say in Executive Compensation : Evidence from Say-on-Pay in the United States
Kimbro, Marinilka Barros - 2015
This paper examines the SEC regulation requiring non-binding general shareholder vote on executive compensation–“say-on-pay” (SOP). We examine the first two years of SOP in the Russell 3000. The results confirm previous shareholder-proposal studies by finding that SOP approval (reject)...
Persistent link: https://www.econbiz.de/10013036020
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Shareholder Proposal Rules and Practice : Evidence from a Comparison of the United States and United Kingdom
Buchanan, Bonnie - 2015
, because they are binding and UK shareholders have the statutory right to call special meetings and elect directors … shareholders and social proposals dominate the proposing scene of the US …
Persistent link: https://www.econbiz.de/10013036314