The aim of this paper is to determine the place and role of corporate governance and performance measures in the efforts of managers to maximize shareholder value, and the attitude of Serbian corporations toward these issues. The paper first analyses the importance of corporate governance and...

The employment problems that the United States now faces are largely structural. The structural problem is not, however, as many economists have argued, a labor-market mismatch between the skills that prospective employers want and the skills that potential workers have. Rather the employment...

Each year, thousands of firms change their names, many in the absence of an accompanying M&A event. Existing research reveals significant heterogeneity in the stock market response to such pure name changes. Why do some firms reap greater stock market rewards for changing their names? Our study...

During the 1980s and 1990s the argument that ?maximizing shareholder value? results in superior economic performance came to dominate the corporate governance debates. In this paper, I outline the rationale for the shareholder-value perspective, and show that, rooted in agency theory, it lacks a...

Unsatisfied with the dominating shareholders'view, that we find unfitted to build a relevant theory of corporate governance, we propose an enlarged definition of the value which may be called, the stakeholder value. This definition and the associated measure are supposed to be more fitted to the...

This paper examines the valuation effects of mergers & acquisitions in the Portuguese banking industry from 1995 to 2003 over a 41-day (-20, +20) event window. Evidence shows some targets gains, but no gains for the bidders. The combined entity (target+bidder) shows no significant gains...

This paper uses dynamic panel estimation approaches to investigate the relationship between shareholder value and efficiency for a large sample of commercial banks in 14 Asia-Pacific economies between 2003 and 2010. In general, the results indicate that shareholder value is positively linked to...

Analyzing the annual reports of India’s largest 500 companies over a period of five years (from 2004 to 2008), the present study at first tries to examine the extent of Economic Value Added (EVA) reporting practices prevalent in Indian corporate sector. It reveals that just 37 companies...

This paper studies how the difference between technical depreciation and tax depreciation affects the firm's optimal investment strategy. The objective is maximization of shareholder value. When tax depreciation differs from technical depreciation, an additional investment not only generates...

This paper investigates the impact of financialization and changes in corporate governance on income inequality for a sample of 13 OECD countries between 1980 and 2010. Though financialization and changes in corporate governance have been widespread, there has been little empirical analysis of...