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We study whether private interactions between firms and mutual funds during non-deal roadshows (NDRs) influence governance behavior. Funds headquartered in the city where the firm conducts an NDR are more likely to download proxy statements. They are also more likely to vote with management on...
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Investment funds play a key role in mass privatization in many transition economies. But have they lived up to … companies rather than active portfolio investors. The initial design problems in mass privatization--asymmetric information and …
Persistent link: https://www.econbiz.de/10012556686
Privatization investment funds are the key feature of mass privatization programmes in transitional economies. This … book offers a thorough survey of mass privatization programmes in the Czech Republic, Poland and Slovenia, supported with … extensive empirical analysis. The study of 'top-down' privatization funds in Poland and 'bottom-up' funds in the Czech Republic …
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The aim of this study is to explore the previously unresearched outcomes of firms funded through equity crowdfunding, a novel type of entrepreneurial finance. We study the outcomes of a sample of 337 firms funded on equity crowdfunding platforms in Europe between 2009 and 2014. By incorporating...
Persistent link: https://www.econbiz.de/10013030990
This Article presents a new theory of fiduciary relationships. Using legal analysis, legal theory and the results of an unprecedented global survey of professional fiduciaries, I show that fiduciary relationships are not now fundamentally different from contractual relationships. I then show how...
Persistent link: https://www.econbiz.de/10012969972
We investigate the role of ownership structure and investor protection in postprivatization corporate governance. We find that the government relinquishes control over time, mainly to the benefit of local institutions and foreign investors. We also show that private ownership tends to...
Persistent link: https://www.econbiz.de/10011591071
privatization (i.e., IPO) has different effects depending on the types of owners to whom it gives control in corporate governance …
Persistent link: https://www.econbiz.de/10012212672