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Employee Ownership and Corporate Governance in Post-Privatization Russia

Kryvoi, Yarik - 2010

This article brings into focus the impact of employee buyouts on corporate governance ten years after the large-scale privatization in Russia. The analysis shows that although employee buyouts have helped to reduce unemployment and prevent major social conflicts, it otherwise had a negative...

Persistent link: https://www.econbiz.de/10014221198

Common ownership and the (non-)transparency of institutional shareholdings: an EU-US comparison

Steuer, Sebastian - 2022

This paper compares the extent of common ownership in the US and the EU stock markets, with a particular focus on differences in the ap-plicable ownership transparency requirements. Most empirical research on common ownership to date has focused on US issuers, largely relying on ownership data...

Persistent link: https://www.econbiz.de/10013402996

European Takeover Reform of 2012/2013 – Time to Re-Examine the Mandatory Bid

Hopt, Klaus J. - 2015

The Thirteenth Directive on Takeover Bids of 2006 has to be revised on the basis of experience gained in the five years of its application. This revision includes an examination of the control structures and barriers to takeover bids for those bids that do not fall within the scope of...

Persistent link: https://www.econbiz.de/10013029756

Foundations of corporate governance

Volonté, Christophe - 2012

This paper outlines the foundations of corporate governance. The discussion includes a review on the modern corporation, transaction costs theory, agency costs theory, legal investor protection, investor protection by corporate governance and its various mechanisms, as well as an overview of the...

Persistent link: https://www.econbiz.de/10009565384

Transfers of Corporate Control in Firms with Non-Controlling Blockholders

Stepanov, Sergey - 2017

I model the choice between a negotiated block trade and a public tender offer as means of acquiring control in a firm with a large minority blockholder. Potential acquirers differ in their (privately known) value-creation ability. In equilibrium, block trades are made by lower ability acquirers...

Persistent link: https://www.econbiz.de/10012974811

Earnings Management in the UK : The Impact of Managerial Share Ownership and Minority Shareholder Protection on Discretionary Accruals

Bos, Sebastian - 2017

The paper examines the relationship between share ownership by boards of British stock exchange listed companies and accrual based earnings management. It provides the first empirical evidence that the relationship is impacted by UK Company Law and the institutional governance framework.We...

Persistent link: https://www.econbiz.de/10012976190

Do Shareholder Protection and Creditor Rights Have Distinct Effects on the Association Between Debt Maturity and Ownership Structure?

Martins, Henrique Castro - 2020

This study examines the effects of the firm's ownership concentration and its institutional environment on corporate debt maturity choices. As ownership concentration and debt maturity are alternative governance mechanisms, we theorize and investigate whether their association is influenced by...

Persistent link: https://www.econbiz.de/10012845792

Family Involvement, Political Connection and IPO Underpricing : Evidence from the Companies Listed on the SME Board of China

Cao, Zhen - 2018

Based on hand-collected information on private companies listed in the Chinese SME stock market, this paper studies how …

Persistent link: https://www.econbiz.de/10012937030

Small Business Financial Distress and the 'Phoenix Syndrome' — A Re-Evaluation

Rotem, Yaad - 2013

In a typical "phoenix syndrome" scenario, a small business entrepreneur who controls the financially distressed Company A registers Company B, to which the assets of Company A are transferred in what appears to be fraudulent conveyance. Company B serves as a vehicle through which the business is...

Persistent link: https://www.econbiz.de/10013071900

Empowering EU Capital Markets- Making listing cool again Final report of the Technical Expert Stakeholder Group (TESG) on SMEs

Fernandez, Eduardo; Friedrich, Hans-Jürgen; … - 2021

Regulation 2019/2115 as regards the promotion of the use of SME growth markets, the European Commission set up a Technical Expert …. The Group was tasked with monitoring and assessing the functioning of SME Growth Markets, as well as providing expertise … and possible input on other relevant areas of SME access to public markets. Their work was finalized in May 2021 and …

Persistent link: https://www.econbiz.de/10013224009