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Institutional investors and ESG preferences
López-de-Silanes, Florencio; McCahery, Joseph A.; … - 2022
We study the effect of environmental, social and governance (ESG) scores on the portfolio allocations of institutional investors. Using a unique data set, we find that institutional investor holdings (as measured by 13F filings) are strongly driven by the ESG quality of companies. While...
Persistent link: https://www.econbiz.de/10012939445
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Excess Control, Corporate Governance, and Implied Cost of Equity : International Evidence
Guedhami, Omrane - 2009
We investigate whether the separation between ownership and control rights can be costly to controlling shareholders and firms in terms of capital-raising costs. Using estimates of the cost of equity capital implied by analyst earnings forecasts and growth rate for a sample of 1,207 firms from...
Persistent link: https://www.econbiz.de/10013159758
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The Impact of Financial, Non-Financial, and Corporate Governance Attributes on the Practice of Global Reporting Initiative (GRI) Based Environmental Disclosure
Frendy - 2012
Business entities are able to exert their influence on particular stakeholders for the benefit of their interest by managing the information they disseminate to the public, particularly if there is no regulation on such issue in place. Accordingly, the extent of accounting information disclosed...
Persistent link: https://www.econbiz.de/10013098011
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Optimal vs satisfactory transparency : the impact of global macroeconomic fluctuations on corporate competitiveness
Oxelheim, Lars - 2018
Being able to separate temporary global macroeconomic influences - caused by fluctuations in exchange rates, interest rates and inflation - from intrinsic performance - related to a superior product, production process or management - is crucial to the assessment of the development of a firm’s...
Persistent link: https://www.econbiz.de/10011952135
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Mandatory Disclosure of Blockholders and Related Party Transactions : Stringent Versus Flexible Rules
McCahery, Joseph A. - 2011
Investor confidence in financial markets depends in large part on the existence of an accurate disclosure and reporting regime that provides transparency in the beneficial ownership and control structures of publicly listed companies. Today, a common post-financial crisis regulatory reform theme...
Persistent link: https://www.econbiz.de/10013119886
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Inefficient Labor of Inefficient Capital? Corporate Diversification and Productivity Around the World
Mitton, Todd - 2011
I study the relation between corporate diversification and labor productivity in a sample of over 600,000 firms from 89 countries. Across the entire sample, greater diversification is associated with significantly lower labor productivity. Contrary to theories emphasizing the inefficient use of...
Persistent link: https://www.econbiz.de/10013134361
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International Diversification in a Troubled World – Do Frontier Assets Still Improve the Efficient Frontier?
Kohlert, Daniel M. - 2010
Although the economic recovery seems off to a stronger start than anticipated earlier, there are considerable differences between the various regions. Emerging and developing economies are expected to benefit from strong internal demand while for most advanced economies the recovery is expected...
Persistent link: https://www.econbiz.de/10013135370
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The Impact of Global Financial Crisis on Shareholder Value and Operational Efficiency of Banks
U-Din, Salah - 2018
Crisis (GFC) and whether operational efficiency is related to shareholder value creation in informationally efficient stock … markets. The impact of GFC on bank efficiency and shareholder value creation is assessed for 29 large banks in the USA, UK … bank efficiency and shareholder value during 2008-09. A significant relationship between profit efficiency and shareholder …
Persistent link: https://www.econbiz.de/10012913163
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Common law and the origin of shareholder protection
Acheson, Graeme G.; Campbell, Gareth; Turner, John D. - 2016
This paper examines the origins of investor protection under the common law by analysing the development of shareholder protection in Victorian Britain, the home of the common law. In this era, very little was codified, with corporate law simply suggesting a default template of rules....
Persistent link: https://www.econbiz.de/10011521411
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Common law and the origin of shareholder protection
Acheson, Graeme G.; Campbell, Gareth; Turner, John D. - 2016
This paper examines the origins of investor protection under the common law by analysing the development of shareholder protection in Victorian Britain, the home of the common law. In this era, very little was codified, with corporate law simply suggesting a default template of rules....
Persistent link: https://www.econbiz.de/10011523499