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The illusory promise of stakeholder governance
Bebchuk, Lucian A.; Tallarita, Roberto - 2020
To address growing concerns about the negative effects of corporations on their stakeholders, supporters of stakeholder governance (“stakeholderism”) advocate a governance model that encourages and relies on corporate leaders to serve the interests of stakeholders and not only those of...
Persistent link: https://www.econbiz.de/10012428242
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The problem of causality in corporate governance research: The case of governance indexes and firm valuation
Saravia, Jimmy A.; Saravia-Matus, Silvia - UNIVERSIDAD EAFIT - 2015
In recent years the problem of the determination of causality has become an increasingly important question in the field of corporate governance. This paper reviews contemporary literature on the topic and finds that the current approach is to attempt to determine causality empirically and that...
Persistent link: https://www.econbiz.de/10011147554
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The Stock Market, the Market for Corporate Control and the Theory of the Firm: Legal and Economic Perspectives and Implications for Public Policy
deakin, Simon; Singh, Ajit - ESRC Centre for Business Research - 2008
It is argued here that - contrary to current conventional wisdom - an active market for corporate control is not an essential ingredient of either company law reform or financial and economic development. The absence of such a market in coordinated market systems during their modern economic...
Persistent link: https://www.econbiz.de/10005812989
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Firm size, sovereign governance, and value creation: Evidence from the acquirer size effect
Humphery-Jenner, Mark; Powell, Ronan - In: Journal of Corporate Finance 26 (2014) C, pp. 57-77
primarily from agency and entrenchment problems. However, in weak governance environments, size might have off-setting benefits …, including increased market power and political connections. We use a sample of 17,647 takeovers from 45 countries to examine the … governance countries do takeovers that generate higher stock-returns and increase post-takeover operating performance. Their …
Persistent link: https://www.econbiz.de/10010776950
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Internal and External Discipline Following Securities Class Actions
Humphery-Jenner, M. - Tilburg University, Center for Economic Research - 2011
promote disciplinary takeovers, CEO/CFO turnover and CEO/CFO pay-cuts, and harm CEOs future job-prospects. This suggests that …
Persistent link: https://www.econbiz.de/10011092569
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Blockholdings and Corporate Governance in the EU Banking Sector
Köhler, Matthias - 2008
governance in the EU banking sector. This paper analyzes the efficiency of shareholder control and hostile takeovers as corporate …
Persistent link: https://www.econbiz.de/10010298692
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Blockholdings and corporate governance in the EU banking sector
Köhler, Matthias - 2009
governance in the EU banking sector. This paper analyzes the efficiency of shareholder control and hostile takeovers as corporate …
Persistent link: https://www.econbiz.de/10010299073
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Blockholdings and corporate governance in the EU banking sector
Köhler, Matthias - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2009
governance in the EU banking sector. This paper analyzes the efficiency of shareholder control and hostile takeovers as corporate …
Persistent link: https://www.econbiz.de/10008533672
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Blockholdings and Corporate Governance in the EU Banking Sector
Köhler, Matthias - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2008
governance in the EU banking sector. This paper analyzes the efficiency of shareholder control and hostile takeovers as corporate …
Persistent link: https://www.econbiz.de/10005098047
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Firms' Decisions on Where to Incorporate
Bebchuk, Lucian Arye; Cohen, Alma - C.E.P.R. Discussion Papers - 2002
This Paper empirically investigates the decisions of US publicly traded firms on where to incorporate. We study the features of states that make them attractive to incorporating firms and the characteristics of firms that determine whether they incorporate in or out of their state of location....
Persistent link: https://www.econbiz.de/10005123946