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This paper examines empirically the announcement effect of commercial corporate governance ratings on share returns. Rating downgrades by Institutional Shareholder Services (ISS) are associated with negative returns of –1.14% over a 3-day announcement window. The returns are highly correlated...
Persistent link: https://www.econbiz.de/10012861805
It is a ubiquitous corporate governance phenomenon in many countries that shareholders pledge their ownership as … shareholders. With a sample consisted of 21,921 firm-year observations from 2007 to 2018, we find a significant casual negative …
Persistent link: https://www.econbiz.de/10012837696
Purpose - The purpose of this research is to study the impact of divestitures on shareholder wealth. This study covers selloffs of publicly traded companies in Germany, Austria and Switzerland (DACH region) during the period 2002-2018. It aims to understand the overall effect of selloffs on...
Persistent link: https://www.econbiz.de/10012822022
low cost to steer growth or sustainably manage their debts. Minority shareholders can effectively increase equity stake in … the situations where they can lobby majority shareholders to abstain in any rights issue to enable minority shareholders … shareholder.While minority shareholders might be vying for more equity through rights issue, the process itself might not bring …
Persistent link: https://www.econbiz.de/10012897412
Persistent link: https://www.econbiz.de/10012803255
shareholders as self-serving, opportunistic, and unethical, thereby alleviating the agency conflict. Religious piety is thus …
Persistent link: https://www.econbiz.de/10013009377
shareholders' risk play an important role in shaping distressed stocks returns …
Persistent link: https://www.econbiz.de/10013035572
Shareholders' wealth has become an important concept among investors in the globalized economy. Investors who have a … variety of options will be interested in evaluating the performance of corporate sector in terms of shareholders' wealth … before making any investments. Shareholders' wealth is measured in terms of Economic Value-Added (EVA). The present study …
Persistent link: https://www.econbiz.de/10013036307
share returns and if shareholders should rely on it solely and forget accounting measures as claimed by its founders (Stern … share returns and shareholders should not rely on it solely but should also rely on traditional accounting measures …, especially the ROA. Furthermore, shareholders should also take into consideration different factors such as technical, economic …
Persistent link: https://www.econbiz.de/10013045993
-window return underreaction to earnings news. My results are generally consistent with predictions from prospect theory regarding …
Persistent link: https://www.econbiz.de/10012938566