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Bali, Mehdi - Université Paris-Dauphine (Paris IX) - 2012

Financial subordination establishes a hierarchy between creditors. This degree is implemented through the legal or intentional suppression of creditors’ right to equal distributions in the bankruptcy proceedings. When it is a priority claim, this loss is imposed on creditors by law. When it is...

Persistent link: https://www.econbiz.de/10011074618

Comparaison du droit comptable allemand et du droit comptable français : une approche systémique

Benkel, Muriel - Université Paris-Dauphine (Paris IX) - 2013

This paper augments the existing literature related to the concistency concept that critically discusses the meaning of « consistency », its theoretical restraints and its practicability. An interpretation of the consistency concept using systems theory leads to the conclusion that «...

Persistent link: https://www.econbiz.de/10011074691

Attending General Meetings of Listed Companies and Exercising Voting Rights: Practice, Problems Encountered and Suggested Solutions Following the Removal of Share Blockage

KILIC, Saim; ALP, Ali; DELIKANLI, Ihsan Ugur - In: Journal of BRSA Banking and Financial Markets 8 (2014) 2, pp. 75-98

The aim of this study is to assess the practice following the removal of share blockage to attend the general meeting and to exercise voting rights under Turkish Commercial Code numbered 6102 and Capital Markets Law numbered 6362, from the point of Borsa Istanbul listed companies. In this...

Persistent link: https://www.econbiz.de/10011074879

CEO deal-making activities and compensation

Fich, Eliezer M.; Starks, Laura T.; Yore, Adam S. - In: Journal of Financial Economics 114 (2014) 3, pp. 471-492

Using transactions generally overlooked in the compensation literature—joint ventures, strategic alliances, seasoned equity offerings (SEOs), and spin-offs—we find that, beyond compensation for increases in firm size or complexity, chief executive officers (CEOs) are rewarded for their...

Persistent link: https://www.econbiz.de/10011076294

Methods for multicountry studies of corporate governance: Evidence from the BRIKT countries

Black, Bernard; Carvalho, Antonio Gledson de; Khanna, … - In: Journal of Econometrics 183 (2014) 2, pp. 230-240

We discuss empirical challenges in multicountry studies of the effects of firm-level corporate governance on firm value, focusing on emerging markets. We assess the severe data, “construct validity”, and endogeneity issues in these studies, propose methods to respond to those issues, and...

Persistent link: https://www.econbiz.de/10011077587

Tranching in the Syndicated Loan Market

Cumming, D.; McCahery, J.A.; Schwienbacher, A. - Tilburg University, Center for Economic Research - 2011

We use data comprising over 100,000 loans from 115 countries during 1995-2009 to examine factors that affect the extent of loan tranching, and the range of tranche spreads. The data show five factors that drive them: asymmetric information, borrower risk, transaction costs, the presence of...

Persistent link: https://www.econbiz.de/10011092615

A Contractual Perspective on Succession in Family Firms

Bjuggren, Per-Olof; Sund, Lars-Göran - Ratioinstitutet - 2011

Abstract This paper analyses succession in family firms from a contractual perspective. A firm is regarded as a nexus of contractual relations with owners, employees, suppliers of goods and services and customers. These contractual parties are in differing degrees tied to the firm through asset...

Persistent link: https://www.econbiz.de/10011095573

Minority Shareholder Protection, Underpricing and the Stock Market Outcomes

XU, Wenming - In: Journal of Advanced Research in Law and Economics IV (2013) 2(8), pp. 158-170

shareholder protection. In the model, minority shareholder protection influences the stock market outcomes through two channels … outcomes are heterogeneous. Using a newly assembled panel data with shareholder protection index in 25 countries for 11 years … minority shareholder protection is negatively correlated with the number of listed firms, but is positively correlated with the …

Persistent link: https://www.econbiz.de/10011103477

COMPUTERIZATION OF PUBLIC ADMINISTRATION TO E-GOVERNMENT: BETWEEN GOAL AND REALITY

HODOS, Raul Felix - In: Curentul Juridic, The Juridical Current, Le Courant … 59 (2014) December, pp. 119-127

Information society represents the proper environment for the efficiency and de-bureaucratization of public administration. This paper aims to analyze some of the opportunities offered by computer technology and the methods to implement such at administrative level. The main qualities of...

Persistent link: https://www.econbiz.de/10011105896

An end to consensus? the selective impact of corporate law reform on financial development

Deakin, Simon; Sarkar, Prabirjit; Singh, Ajit - Volkswirtschaftliche Fakultät, … - 2011

transition countries to test this claim. We find that increases in shareholder protection contribute to stock market growth in …

Persistent link: https://www.econbiz.de/10011107508