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We study the role of institutional investors in cross-border mergers and acquisitions (M&As). We find that foreign institutional ownership is positively associated with the intensity of cross-border M&A activity worldwide. Foreign institutional ownership increases the probability that a merger...
Persistent link: https://www.econbiz.de/10013158587
The leximetric research on shareholder protection can contribute to core questions of comparative company law. For example, such research may be able to show whether or not there is a trend to increase shareholder power across countries. It can also provide us with tools to confirm or challenge...
Persistent link: https://www.econbiz.de/10013026372
shareholders in civil law systems explains crucial differences in corporate structure and finance. It questions the thesis that the …
Persistent link: https://www.econbiz.de/10014214432
Although a growing number of investors are engaging with sovereign entities on environmental, social, and governance (ESG) issues, little academic research investigates this new form of investor activism. Applying universal ownership theory and drawing on eleven case studies of policy...
Persistent link: https://www.econbiz.de/10014338086
We define minority M&A transactions as those initiated by target controlling shareholders to acquire minority … shareholders' ownership in the same target firm. Existing studies provide diverse evidence with regard to whether minority … shareholders are expropriated by controlling shareholders in minority merger deals. Rather than studying transactions in a …
Persistent link: https://www.econbiz.de/10013028467
This paper examines the interaction between product market competition and international differences in shareholder rights in relation to firm performance and corporate policies. In contrast to existing literature, we provide evidence of complementarities between product market competition and...
Persistent link: https://www.econbiz.de/10013095096
Persistent link: https://www.econbiz.de/10013010589
This article examines the decades-long decline of investor protections enshrined in the Securities Act of 1933, most notably Section 11, which imposes near strict liability on corporate insiders and certain secondary actors, primarily underwriters. The provision, the most potent in the federal...
Persistent link: https://www.econbiz.de/10013403507
investment on the other hand, treat claims for damages by company shareholders differently. Advanced domestic systems generally … bar shareholders from claiming for reflective loss – loss that arises from injury to "their" company (such as a decline in … the value of shares). The claim for the loss belongs to the injured company and not to its shareholders. In contrast …
Persistent link: https://www.econbiz.de/10010463416
institutional shareholders should play in governing the corporation. In the US this discussion is around the idea of shareholder …
Persistent link: https://www.econbiz.de/10013138199