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Does Shareholder Primacy Lead to a Decline in Managerial Accountability?

Reberioux, Antoine - 2010

), stressing the logical failure of a control of the business firm provided for by stock markets: the implementation of shareholder …

Persistent link: https://www.econbiz.de/10012716483

The Impact of Transformational Leadership and Leader-Member Exchange on Socialization in Mergers and Acquisitions

Reich, Robert W. - 2011

The world of mergers and acquisitions are often fraught with change, loss of identity and uncertainty for the workers who remain. The consolidation of work-groups can result in new roles, unfamiliar faces, new social structure and the introduction of foreign processes. The need to quickly...

Persistent link: https://www.econbiz.de/10014175232

‘Nothing But Wind’? The Past and Future of Comparative Corporate Governance

Clarke, Donald C. - 2011

Corporate law scholarship has come a long way since Bayless Manning some four decades ago famously pronounced it dead. Not only has doctrinal scholarship continued its project of critique and rationalization, but empirical and economic approaches have injected new life into the field. Recent...

Persistent link: https://www.econbiz.de/10014179202

Access, Veto and Ownership in the Theory of the Firm

Bel, Roland M. - 2009

In an incomplete contract setup, past literature has separately emphasized the role of ownership and the role of access in providing incentives. Here, we de-bundle ownership into the right to access (or use) an asset and the right to veto (exclude) others from using it, and define control over...

Persistent link: https://www.econbiz.de/10014218039

Realizing Synergies : A Property Rights View

Bel, Roland M. - 2007

the Property Rights theory of the firm developed by Grossman, Hart and Moore (GHM). In this theory, ownership of an asset … veto can take to mitigate inefficiencies in ex-ante investment and ex-post bargaining. Starting from a firm with two … third activity/firm, when the second synergy imposes a negative externality on the first one (there is a trade-off effect …

Persistent link: https://www.econbiz.de/10014225422

Sustainable Organizations

Geelen, Thomas; Hajda, Jakub; Starmans, Jan - 2022

We develop a theory of sustainability-driven stakeholder governance to study how stakeholders with pro-social preferences influence organizations' sustainability—their social outcomes. While stronger pro-social preferences render a stakeholder's project choice more sustainable and increase her...

Persistent link: https://www.econbiz.de/10014238970

Stewardship Activities and Agency Problems after Japanese Corporate Governance Reform

Omura, Hiroyasu - 2020

Japanese corporate governance reform is implemented by an introduction of corporate governance code and stewardship code, in which stewardship activities by institutional investors play an important role in terms of reduction of agency cost. In this report, stewardship activities are focused...

Persistent link: https://www.econbiz.de/10014361849

A New Discourse Theory of the Firm After Citizens United

Siebecker, Michael R. - 2010

Could a new “discourse theory” of the firm provide a better way than existing corporate law principles to understand … the evolving nature of the firm and the role shareholders should play in corporate governance? Two recent developments … answer effectively questions about the nature of the firm and expansion of shareholder rights? Quite simply, the corporation …

Persistent link: https://www.econbiz.de/10014188578

Endogenously Chosen Boards of Directors and Their Monitoring of the CEO

Hermalin, Benjamin E.; Weisbach, Michael S. - EconWPA - 1996

A fundamental issue in governance research is how boards can be chosen through a process partially controlled by the CEO but yet can still be somewhat effective in monitoring the CEO. We offer an answer based on a model in which board effectiveness is a function of the board's independence....

Persistent link: https://www.econbiz.de/10005135092

Legal Personhood and Liability for Flawed Corporate Cultures

Hill, Jennifer G. - 2020

A number of recent corporate law scandals (including the Wells Fargo fraudulent accounts scandal, the Volkswagen emissions scandal, sexual harassment claims at Fox News and CBS, and various banking scandals currently under investigation in a high profile Australian Royal Commission) epitomize...

Persistent link: https://www.econbiz.de/10012850505