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Shareholders, Not Politicians, Should Decide on Takeovers

Jessop, Julian - 2021

The ongoing controversy over Melrose’s purchase of engineering company GKN illustrates many common misunderstandings about how free markets can work to the benefit of all. Shareholders, not politicians, should decide how to run their businesses, including whether a new management team could do...

Persistent link: https://www.econbiz.de/10013224806

Conditional Returns to Shareholders of Bidding Firms : An Australian Study

Akhtar, Farida - 2013

announcement events. Takeover announcements are not random because managers decide rationally whether to bid or not, this indicates …

Persistent link: https://www.econbiz.de/10013077619

Controlling Shareholder Stock Pledge, Aggravated Expropriation and Corporate Acquisitions

Yan, Siyuan - 2020

We examine the effects of controlling shareholder stock pledge on corporate acquisition decisions and associated performance. Consistent with our aggravated expropriation hypothesis, we find that pledging firms in China initiate more takeovers, but these acquisitions conducted by pledging firms...

Persistent link: https://www.econbiz.de/10012832661

Index Fund and ETF Ownership and the German Market for Corporate Control

Dobmeier, Ludwig - 2019

If a bidder launches a takeover offer for a listed company being part of a stock market index, then index funds and …. This paper analyzes the impact of index fund and ETF ownership on the success of takeover offers in Germany. Based on a … sample of 323 takeover offers of publicly listed German companies between 2006 and 2018, we document a significant negative …

Persistent link: https://www.econbiz.de/10012864050

Chapter 12 Corporate Law and Governance

Becht, Marco; Bolton, Patrick; Röell, Ailsa - In: Handbook of law and economics : volume 2, (pp. 829-943). 2007

This chapter surveys the theoretical and empirical research on the main mechanisms of corporate law and governance, discusses the main legal and regulatory institutions in different countries, and examines the comparative governance literature. Corporate governance is concerned with the...

Persistent link: https://www.econbiz.de/10014023498

Control transfers in corporate Germany : their frequency, causes and consequences

Köke, F. Jens - 2000

This study examines changes in block ownership for a large sample of listed and non-listed German firms. The frequency of block trading is similar to other countries, and the vast majority of block trades leads to changes in ultimate ownership (control transfers). Such changes are more likely...

Persistent link: https://www.econbiz.de/10013428382

Determinants of acquisition and failure : stylized facts and lessons for empirical studies

Köke, F. Jens - 2001

This study provides new stylized facts on the determinants of corporate failure and acquisition in Germany. It also offers important lessons for the design of empirical studies. We show that firms experiencing failure or acquisition are significantly different from surviving firms on a number of...

Persistent link: https://www.econbiz.de/10013428411

A critical review of the common ownership literature

Gerardi, Kristopher; Lowry, Michelle; Schenone, Carola - 2023

The rapid growth in index funds and significant consolidation in the asset-management industry over the past few decades has led to higher levels of common ownership and increased attention on the topic by academic researchers. A consensus has yet to emerge from the literature regarding the...

Persistent link: https://www.econbiz.de/10014422341

A contingency model of board characteristics and foreign institutional investor ownership : the moderating role of firm size and market valuation

Nair, Smitha; Gopikumar, V.; Viswanathan, P. K.; … - In: Cogent economics & finance 8 (2020) 1, pp. 1-17

We investigate the governance sensitivity of foreign institutional investors' (FII) ownership in a large emerging market setting of India, characterized by highly concentrated insider ownership. More specifically, we focus on the moderating role of firm size and price to book value (PB) in...

Persistent link: https://www.econbiz.de/10012219254

Relationship between family ownership, agency costs towards financial performance and business strategy as mediation

Savitri, Enni - In: Verslas : teorija ir praktika : Vilniaus Gedimino … 19 (2018), pp. 49-58

This study investigates the relationship between family ownership, agency costs, financial performance, and companies' business strategies. The targeted population of this study were all 143 manufacturing companies listed on the Indonesia Stock Exchange (IDX) during 2007-2014. About 31% (45) of...

Persistent link: https://www.econbiz.de/10012019037