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The Myth that Insulating Boards Serves Long-Term Value

Bebchuk, Lucian A. - 2019

According to an influential view in corporate law writings and debates, pressure from shareholders leads companies to take myopic actions that are costly in the long term, and insulating boards from such pressure serves the long-term interests of companies as well as their shareholders. This...

Persistent link: https://www.econbiz.de/10012905373

Say on Pay, Governance Quality, and Shareholder Pressure

Göx, Robert F. - 2019

I examine the economic consequences of Say on Pay (SoP) for firms with different governance qualities in a setting where shareholders face informational constraints in evaluating the efficiency of the firm's compensation policy and where the firm's governance structure is endogenous. I find that...

Persistent link: https://www.econbiz.de/10012905842

Institutional Investors as Blockholders

Pichhadze, Aviv - 2019

Pichhadze (2010) introduced the Market Oriented Blockholder Model (MOBM) as properly describing the ownership pattern in the American equity markets. Under the model, the emerging blockholder in the American equity markets is the institutional investor (II). This poses a challenge to the...

Persistent link: https://www.econbiz.de/10012906088

Confronting the Problem of Fraud on the Board

Friedlander, Joel Edan - 2019

Recent precedents make it difficult to challenge transactions approved by a board of directors and a stockholder majority. When should such cases be filed, proceed beyond the pleading stage, and prevail? My answer is that judicial intervention should remedy and deter tortious misconduct that...

Persistent link: https://www.econbiz.de/10012889973

The Politics of CEOs

Cohen, Alma - 2019

This article studies the political preferences of chief executive officers (CEOs) of public companies. We use Federal Election Commission records to compile a comprehensive database of the political contributions made by more than 3800 individuals who served as CEOs of Standard & Poor's 1500...

Persistent link: https://www.econbiz.de/10012890269

Foreign Shareholders and Corporate Governance in Japan

Iida, Hidefusa - 2019

Shareholders are one of the most critical players in corporate governance. Contrary to the stereotypical understanding of Japanese companies, widely held equity ownership and foreign investors constituting the largest investor category are commonly observed in large Japanese companies. Given...

Persistent link: https://www.econbiz.de/10012891237

Corporate Governance of Banks, Performance, Market and Capital Structure

Lazarides, Themistokles G. - 2019

Many scholars have linked Corporate Governance (CG) and performance or CG, capital structure of banks or market … and whether these dimensions are the drivers of banks' financial health, strategic robustness and survival effectiveness … sample is selected (covering the period from 2004 to 2013). The first sample is comprised by European banks that merged. The …

Persistent link: https://www.econbiz.de/10012891821

The Case for Dual-Class of Shares

Allaire, Yvan - 2019

The debate over whether dual class of shares increases or decreases share value, should be prohibited or not, should be subjected to mandatory sunset provisions, and so on has been heating up over the last few years. This paper reviews the pros and cons of dual class of shares in light of more...

Persistent link: https://www.econbiz.de/10012894600

Confronting the Problem of Fraud on the Board

Friedlander, Joel Edan - 2019

Recent precedents make it difficult to challenge transactions approved by a board of directors and a stockholder majority. When should such cases be filed, proceed beyond the pleading stage, and prevail? My answer is that litigation rules should remedy and deter tortious misconduct that corrupts...

Persistent link: https://www.econbiz.de/10012896823

The German Law of and Experience with the Supervisory Board

Hopt, Klaus J. - 2017

Persistent link: https://www.econbiz.de/10012941838