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Este documento de trabajo está dividido en dos partes. Primero, se analizan las tendencias de la banca mundial. Para ello se ha actualizado un documento de trabajo previo del autor, el cual estaba incluido en una serie de siete desarrollado para analizar la Estrategia de Citicorp en Chile....
Persistent link: https://www.econbiz.de/10005561737
A Central Counterparty (CCP) is an entity that interposes itself between transacting counterparties – a seller vis-à-vis the original buyer and a buyer vis-àvis the original seller – to quarantee execution of the transaction. Thus, the original transacting parties substitute their...
Persistent link: https://www.econbiz.de/10005134670
governance of under-performing companies in their portfolio as recently proposed. By considering the private benefits and the … system of corporate governance. It finds that in many cases, by contrast, these incentives would be very strong indeed if …
Persistent link: https://www.econbiz.de/10005398515
This paper studies the information content and consequences of third-party voting advice issued during proxy contests. We document significant abnormal stock returns around proxy vote recommendations and develop an estimation procedure for disentangling stock price effects due to changes in...
Persistent link: https://www.econbiz.de/10005040659
Corporate governance is a recent concept that encompasses the costs caused by managerial misbehavior. Corporate … governance is concerned with how organizations in general, and corporations in particular, produce value and how that value is … of value). Corporate governance is concerned with this link in general, but more specifically with the moral and ethical …
Persistent link: https://www.econbiz.de/10011931348
Exchanges and other trading platforms are often vertically integrated to carry out trading and settlement as one operation. We show that these vertical silos can prevent the full realization of efficincy gains from horizontal consolidation of trading and settlement platforms. Independent of the...
Persistent link: https://www.econbiz.de/10011940669
The attention for the governance of financial sector supervisors is of a recent date. The debate has risen to the fore … governance debate. We first discuss the main premise of the paper, that regulatory governance plays a pivotal role in instilling … financial sector governance, which in turn is a key source of corporate governance in the nonfinancial sector (the governance …
Persistent link: https://www.econbiz.de/10005018004
Este artículo ofrece un panorama de la evolución de la actividad de fusiones y adquisiciones en el sector financiero europeo en el período transcurrido desde la introducción de la moneda única y analiza sus implicaciones sobre el grado de integración del sistema financiero europeo y sobre...
Persistent link: https://www.econbiz.de/10005021773
This paper looks at the reaction by industry insiders, industry analysts and competing firms to the announcement of M&As that took place in the European Union financial industry in the period 1998-2006. Analysts covering firms involved in an M&A transaction do not significantly alter their...
Persistent link: https://www.econbiz.de/10005021781
This paper looks at the reaction by industry insiders, industry analysts and competing firms, to the announcement of M&As that took place in the European Union financial industry in the period 1998-2006. Analysts covering firms involved in an M&A transaction do not significantly alter their...
Persistent link: https://www.econbiz.de/10005022255