Showing 1 - 10 of 108,194
This paper studies the separation of ownership and control of 108 listed companies in Colombia from 1996 to 2002 … examines the association of various ownership and control measures and separation ratios with a firms value and performance for …, finding that voting rights are greater than cash flow rights because of indirect ownership across firms. The paper also …
Persistent link: https://www.econbiz.de/10010206411
actual owners and controllers. In particular, in continental Europe and in Asia, control tunnelling appears frequently … through pyramidal structure. After describing the ownership structure through a graph association, this paper analyses the … voting game at stake in the race for control. It compares existing methods and algorithms to identify the owners and …
Persistent link: https://www.econbiz.de/10005357836
actual owners and controllers. In particular, in continental Europe and in Asia, control tunnelling appears frequently … through pyramidal structure. After describing the ownership structure through a graph association, this paper analyses the … voting game at stake in the race for control. It compares existing methods and algorithms to identify the owners and …
Persistent link: https://www.econbiz.de/10005464154
firm ownership structure. Blockholder activism and contestability becomes an internal mechanism that improves director …
Persistent link: https://www.econbiz.de/10013132862
We study the effect of corporate board structure on firm performance under different product market conditions. Using customer-supplier links to identify exogenous downstream demand shocks, we find that board independence has a more significant effect on firm performance when the firm-specific...
Persistent link: https://www.econbiz.de/10012899406
Equity ties between businesses change the division of the firms joint profits, thereby affecting incentives for relation-specific investments and other strategic actions. Depending on which side owns the equity and how readily the equity can be resold, we find that the changed incentives can...
Persistent link: https://www.econbiz.de/10011568807
This paper analyzes the performance consequences of employee stock options for a broad sample of firms during the period 1996-1999. Our tests are performed separately for the top 5 executives and all other employees. We estimate the expected level of option incentives based on each firm's...
Persistent link: https://www.econbiz.de/10005030177
This paper focuses on the mechanisms of collective control, such as in Japanese keiretsu, that is characterized by … compensation payments. These mechanisms of control are compared to reputation control, the latter working on original discount … process. The results are obtained with simulations. The efficiency of the collective control depends on the levels of discount …
Persistent link: https://www.econbiz.de/10005696831
This paper analyses ownership and control structures of Dutch listed companies. Legislation effective since 1992 … that the average ownership stakes of the largest and the three largest shareholders are 27% and 41%, respectively. The … average ownership stakes of banks, insurance companies and other financial institutions are relatively low. We observe that …
Persistent link: https://www.econbiz.de/10011608486
This chapter documents the evolution of ownership and control of firms around the world over a hundred year period from … stock markets and contrasts these with the persistent patterns of ownership that are observed in many countries around the … world. In particular, it documents the growth in dispersion in ownership that took place in many countries from the early …
Persistent link: https://www.econbiz.de/10014023371