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Using a stochastic frontier model and a comprehensive dataset, we study factors that affect corporate efficiency in … efficiency, and (iii) high competition is less conductive to efficiency than moderate or low competition. In terms of ownership …, we find that (iv) efficiency increases when a majority owner must deal with minority shareholders and that (v) domestic …
Persistent link: https://www.econbiz.de/10010510115
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
Our research tests the difference in investment efficiency between state-owned enterprises (SOEs) and private firms and … then evaluates the effect of privatisation and equitisation policies on the investment efficiency of former state owned …
Persistent link: https://www.econbiz.de/10010499591
Persistent link: https://www.econbiz.de/10011570425
This research paper brings forward a non-standard convertible zero-coupon bond endowed with a set of distinctive features attached to it so as to strengthen the corporate governance of the issuer, namely that conversion actually takes place at maturity date only; that conversion is mandatory; it...
Persistent link: https://www.econbiz.de/10003976713
The main subject of theoretical-empirical study presented in this paper is economic efficiency of companies listed on … essence and assessment measures of companies' economic efficiency. The second part presents the results of a comparative … empirical research on economic efficiency of the companies listed on the Warsaw Stock Exchange and included in the WIG30 index …
Persistent link: https://www.econbiz.de/10012002139
Diese Studie untersucht die Übereinstimmung von Erklärungsentsprechen und Entsprechenserklärung bezüglich Ziffer 4.2.3 Abs. 4 S. 1 Deutscher Corporate Governance Kodex (DCGK) in den Jahren 2010 bis 2014. Dazu wurden in einer Vollerhebung die Entsprechenserklärungen und Abfindungssummen...
Persistent link: https://www.econbiz.de/10011585168
We adopt a novel approach to explain why firms opt for or against CEO duality and the value implications of this choice. Exploiting the 2009 amendments to Regulation S-K, we provide unique evidence on the first-time disclosure of the reasons firms state for combining (separating) the roles of...
Persistent link: https://www.econbiz.de/10011948438
We examine the influence of proxy advisors on firms’ shareholder engagement behavior. Our analyses exploit a quasi-natural experiment using Say-On-Pay voting outcomes near a threshold that triggers a review of engagement activities by Institutional Shareholder Services (ISS). Firms receiving...
Persistent link: https://www.econbiz.de/10012586749
Exploiting the 2009 amendments to Regulation S-K, we provide unique evidence on the first-time disclosure of the reasons firms state for combining (separating) the roles of CEO and chairman. The stated reasons support both agency theory and organization theory. They are more numerous and...
Persistent link: https://www.econbiz.de/10013271931