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Judicial Removal of Directors : Denial of Directors? License to Steal or Shareholders? Freedom to Vote?

Sirodoeva-Paxson, Olga N. - 1999

The article examines a new corporate law remedy: the ability of courts to remove directors of business corporations for misconduct. In recent years, a majority of the states has followed the Model Business Corporations Act in adopting the judicial removal remedy. The disparity in approach of...

Persistent link: https://www.econbiz.de/10012789804

Industry Categories and the Politics of the Comparable Firm in CEO Compensation

Porac, Joseph F. - 1999

We examine the blending of informational and political forces in organizational categorizations in the context of chief executive officer (CEO) compensation. By law, corporate boards are required to provide shareholders with annual justifications for their CEO pay allocations that contain an...

Persistent link: https://www.econbiz.de/10012789813

Synergy, Managerialism or Hubris? An Empirical Examination of Motives for Foreign Acquisitions of U.S. Firms

Seth, Anju - 1999

This study examines the motives underlying foreign acquisitions of U.S. firms, estimates the extent of value creation … associated with such acquisitions and examines how total gains are shared between acquiring firms and targets. We show that the … synergy hypothesis is the predominant explanation for our sample of foreign acquisitions of U.S. firms. However, the hubris …

Persistent link: https://www.econbiz.de/10012789833

A Note on Labour and Corporate Governance in the United Kingdom

Davies, Paul L. - 1999

This note explains the historical reasons for the minimalist development of a legal structure for enterprise governance in the United Kingdom in which representatives of employees were significantly involved. It analyses the strains which have been placed on this traditional structure of...

Persistent link: https://www.econbiz.de/10012789848

The Dynamics of the Management-Shareholder Conflict

Fluck, Zsuzsanna - 1999

This article investigates the distribution of equity ownership between entrenched management and dispersed outsiders when management has the ability to manipulate the cash flows and when it is costly for equityholders to prove managerial wrongdoing in court. Management chooses the distribution...

Persistent link: https://www.econbiz.de/10012789935

Organizational Form and the Consequences of Highly Leveraged Transactions : Kroger's Recapitalization and Safeway's Lbo

Denis, David J. - 1999

This paper compares the leveraged recapitalization of Kroger Co. with the leveraged buyout of Safeway Stores. While both transactions dramatically increased leverage, Safteway's also altered managerial ownership, board composition, and executive compensation, while Koger's did not. My analysis...

Persistent link: https://www.econbiz.de/10012790289

Effect of Socially Activist Investment Policies on the Financial Markets : Evidence from the South African Boycott

Teoh, Siew Hong - 1998

This article studies the most important legislative and shareholder boycott to date, the boycott of South Africa's apartheid regime. We find that corporate involvement with South Africa was so small that the announcement of legislative/shareholder pressure or voluntary corporate divestment from...

Persistent link: https://www.econbiz.de/10012790347

Block Share Purchases and Corporate Performance

Bethel, Jennifer E. - 1998

followed by increases in asset divestitures, decreases in mergers and acquisitions, and abnormal share price appreciation …

Persistent link: https://www.econbiz.de/10012790573

The Impact of Asymmetric Information on Proxy Outcomes : An Empirical Test

Mensah, Sam - 1998

If a manager-shareholder is better informed about the true value of a firm's shares than outside shareholders, then the management of an undervalued firm is hypothesized to use its incumbent advantage to win proxy contests in order to maintain control and to benefit from share revaluations...

Persistent link: https://www.econbiz.de/10012790589

Block Share Purchases and Corporate Performance

Bethel, Jennifer E. - 1998

followed by increases in asset divestitures, decreases in mergers and acquisitions, and abnormal share price appreciation …

Persistent link: https://www.econbiz.de/10012790772