protection for minority shareholders and large ownership concentration. The ultimate defense strategy of an expropriated investor … stock in the local index. However, a run by blockholders may hurt minority shareholders more than the consumption of private … benefits by dominant shareholders. Moreover, to the extent that blockholders such as local pension funds have few …

-corporate dispute resolution in Brazil. Consistent with a number of theories, we find that these organizations prefer arbitration to …

, we study whether the presence of nonfinancial firms as shareholders of Brazilian firm mitigates financial constraints. We … find that the presence of nonfinancial firms as significant shareholders reduces financial constraints, probably because … changes, have been positive for firm investment and have contributed to the development of Brazil …

I analyze the current prevalence of the concept of shareholder value maximization in Brazil from the normative, case … the maximization of shareholders' wealth as a core element of its identity. Around 60% of mission sentences identify … customers as the main constituencies, while only 10% name shareholders as its central raison d'être. On the case law perspective …

empirical evidence to advance the theoretical understanding in comparative law of how and why shareholders agreements are used … disregarded. But while conventional wisdom suggests that U.S. public corporations do not have shareholders agreements, such …-law countries. Moreover, while arbitration appears as the preferred method of dispute resolution in Brazil, U.S. parties opt for …

indicate that nonfinancial firms as large shareholders increase dividend payout which leads to the reduction of free cash flow …

Commission (CVM) on December 2009. Article 28 provides the right for shareholders to include nominees for the board of directors … Brazil. It was released after a promising trend of ownership dispersion in the Brazilian Novo Mercado, wisely spotted by the … material about shareholders’ rights, voting and proxy soliciting, resulted in an irrecusable invitation to confront what was …

This article examines some of the institutional conditions that facilitated the development of equity markets in Brazil … corporations in Brazil to attract investors in large numbers. By availing themselves of this strategy, the firms generated a …