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Managerial entrenchment and anti-takeover provisions in Japan

Hosono, Kaoru; Takizawa, Miho; Tsuru, Kōtarō - 2010

Persistent link: https://www.econbiz.de/10003976805

Gill, Andrej; Visnjic, Nikolai - 2013

This study investigates the transition from being a listed company with a dispersed ownership structure to being a privately held company with a concentrated ownership structure. We consider a sample of private equity backed portfolio companies to evaluate the consequences of the corporate...

Persistent link: https://www.econbiz.de/10010225758

The political economy of dominant investors

Perotti, Enrico; Thadden, Ernst-Ludwig von - 2005

We allow the preference of a political majority to determine boththe corporate governance structure and the division of profits betweenhuman and financial capital. In a democratic society where financialwealth is concentrated, a political majority may prefer to restraingovernance by dispersed...

Persistent link: https://www.econbiz.de/10011337975

Passive shareholders as a takeover defense

Bodnaruk, Andrij; Gao, Pengjie; Östberg, Per; Yun, Hayong - 2011

more passive shareholders (lower ownership per non-institutional shareholder) are less likely to be takeover targets, less … likely to be acquired and command higher premiums. Using the adoption of anti-takeover law in Delaware as an exogenous shock … to anti-takeover protection, we show that the passiveness of shareholder base decreases as the takeover threat subsides …

Persistent link: https://www.econbiz.de/10009009605

Corporate governance and the nature of takeover resistance

Carline, Nicholas F.; Linn, Scott C.; Yadav, Pradeep - 2014 - This version: March 23, 2014

We investigate the relation between corporate governance characteristics of hostile takeover targets and the choice to …

Persistent link: https://www.econbiz.de/10010337622

State-owned enterprise governance : a stocktaking of reforms and challenges in Southern Africa

Balbuena, Sara S. - 2014

This report is the first known stocktaking of its kind to provide a regional overview of state-owned enterprise (SOE) governance reforms and challenges across the Southern African Development Community (SADC) region. Part One summarises the challenges and governance practices related to...

Persistent link: https://www.econbiz.de/10010233543

Insight private equity

Gill, Andrej; Visnjic, Nikolai - 2013

We are able to shed light on the black box of restructuring tools private equity investors use to improve the operational performance of their portfolio companies. By building on previous work considering performance evaluation of PE backed companies, we analyze whether private equity improves...

Persistent link: https://www.econbiz.de/10010225798

CEO fitness and firm value

Limbach, Peter; Sonnenburg, Florian - 2014 - This Draft: September 2014

This study finds a positive relation between CEO fitness and firm value. For each of the years 2001 to 2011, we define CEOs of S&P 1500 companies as being fit if they finish a marathon. The literature suggests that fitness moderates stress and positively affects cognitive functions and...

Persistent link: https://www.econbiz.de/10010399327

When heirs become major shareholders : evidence on tunneling and succession through related-party transactions

Kim, Woochan; 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

Does mandatory shareholder voting prevent bad acquisitions?

Becht, Marco; Polo, Andrea; Rossi, Stefano - 2014

Shareholder voting on corporate acquisitions is controversial. In most countries acquisition decisions are delegated to boards and shareholder approval is discretionary, which makes existing empirical studies inconclusive. We study the U.K. setting where shareholder approval is imposed...

Persistent link: https://www.econbiz.de/10010387165