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When Do Sell-Side Analyst Reports Really Matter? Shareholder Protection, Institutional Investors and the Informativeness of Equity Research

Arand, Daniel - 2013

We examine whether the informativeness of sell-side analyst reports depends on the strength of the regulatory environment of a country and the regulatory background of the institutional investors of a company. Our analyses are based on more than 600,000 analyst reports from 2005 through 2010...

Persistent link: https://www.econbiz.de/10013091129

Underpricing, Board Structure, and Ownership : An Empirical Examination of Indonesian IPO Firms

Darmadi, Salim - 2012

The objective of this paper is to examine whether underpricing is associated with board structure and corporate ownership among Indonesian IPO firms. To capture the most recent development, the sample comprises 101 firms conducting initial public offerings (IPOs) in Indonesia's primary equity...

Persistent link: https://www.econbiz.de/10013108052

Investor Preference and Promoter's Ownership Pattern in Graded IPOs of India

Mittal, Sanjiv - 2013

SEBI, the Indian securities market regulator has set a unique example for the entire world by introducing IPO grading in India 2006 on optional basis and further mandating it from May, 2007. The purpose of this grading was to provide retail investors with a ready-made assessment of the...

Persistent link: https://www.econbiz.de/10013090824

Corporate Governance, IPO Underpricing and Long-Term Performance of Listed Firms in China

Li, Lary - 2009

This is an empirical study that examines the underpricing and aftermarket long-term performance of IPOs in China and IPO underpricing. Corporate governance aspects that may play a role in IPOs, such as ownership structure and external directors, are studied.The study show that firms with higher...

Persistent link: https://www.econbiz.de/10013156611

Dynamic Ownership, Private Benefits, and Stock Prices

Corvino, Raffaele - 2019

shareholding using data on the ownership dynamics of Italian public companies. The results show that controlling shareholders …. The results imply that controlling shareholders are particularly beneficial for the rest of the company shareholders …

Persistent link: https://www.econbiz.de/10012861939

Passive Blockholders, Informational Efficiency of Prices, and Firm Value

Chung, Kee H. - 2020

This paper analyzes the role of passive blockholders in corporate governance using data on Schedule 13G filings. We show that firm value increases with the number and aggregate ownership of passive blockholders after controlling for other possible determinants of firm value. More importantly, we...

Persistent link: https://www.econbiz.de/10012847601

Performance benefits of tight control

Gill, Andrej; Visnjic, Nikolai - 2013

This study investigates the transition from being a listed company with a dispersed ownership structure to being a privately held company with a concentrated ownership structure. We consider a sample of private equity backed portfolio companies to evaluate the consequences of the corporate...

Persistent link: https://www.econbiz.de/10010225758

The effect of corporate taxation and ownership on raising shareholder capital

Krämer, Robert; Lipatov, Vilen - 2013

model with strategic interaction between managers and outside shareholders, we hypothesize that, while an increase in the …

Persistent link: https://www.econbiz.de/10010199748

Punish one, teach a hundred : the sobering effect of punishment on the unpunished

D'Acunto, Francesco; Weber, Michael; Xie, Jin - 2019

Direct experience of a peer's punishment might make non-punished peers reassess the probability and consequences of facing punishment and hence induce a change in their behavior. We test this mechanism in a setting, China, in which we observe the reactions to the same peer's punishment by listed...

Persistent link: https://www.econbiz.de/10011973941

The government as a large shareholder : impact on firm value and corporate governance

Fernandes, Marcelo; Novaes, Walter - 2015

in Europe and Latin America, where several governments are large shareholders in a variety of public firms. In a sense …, the subprime crisis induced these governments to behave as active large shareholders. This paper uses a sample of public … firms in Brazil to show that government activism lowers the value of minority shareholders' voting rights. While the …

Persistent link: https://www.econbiz.de/10011405286