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insolvency and employment law, stakeholder interests are better represented, thanks to European Community influence. Moreover … favor stakeholder-inclusive practices. We therefore suggest that the UK system is currently in a state of flux and that the …
Persistent link: https://www.econbiz.de/10013120335
An important component of corporate governance is the regulation of significant transactions – mergers, acquisitions, and restructuring. This paper (a chapter in Oxford Handbook on Corporate Law and Governance, forthcoming) reviews how M&A and restructuring are regulated by corporate and...
Persistent link: https://www.econbiz.de/10013051345
Over 20 years, M&A contracts have more than doubled in size – from 35 to 88 single-spaced pages in this paper's font. They have also grown significantly in linguistic complexity – from post-graduate “grade 20” to post-doctoral “grade 30”. A substantial portion (lower bound ~20%) of...
Persistent link: https://www.econbiz.de/10011582006
aspect of protection from takeovers when stakeholder relationships are important …
Persistent link: https://www.econbiz.de/10013008979
SUN Cube is a new stakeholder management system that can be used in M&A deals and can be defined from four perspectives …
Persistent link: https://www.econbiz.de/10013074925
Golden parachutes have attracted much debate and substantial attention from investors and public officials for more than two decades, and the Dodd-Frank Act mandated a shareholder vote on any future adoption of a golden parachute by public firms. We analyze the relationship that golden...
Persistent link: https://www.econbiz.de/10012940555
We estimate the value of innovative assets using the value paid for private, innovative targets. Since young, private firms are the primary drivers of mold-breaking innovation, we focus on such firms. We adopt a novel approach that uses the price paid for young, private targets together with...
Persistent link: https://www.econbiz.de/10014039590
Firms that buy assets in fire sales earn excess returns that are two percentage points higher than in regular acquisitions. The mechanism behind this result is the reduced bargaining power of the seller. We find no difference in real effects or in the combined returns for buyers and sellers...
Persistent link: https://www.econbiz.de/10012856597
, corporate actors (including shareholders, other stakeholder groups, directors, officers, institutional and retail investors … study aims to bridge the gap between the idealistic vision of stakeholder capitalism, as manifested today in ESG risks and … corporate purpose and stakeholder capitalism is closely related to the concept of fairness, and hypothesizes that certain …
Persistent link: https://www.econbiz.de/10013312094
Aiming for superior performance, companies need to have and skillfully use rare, valuable, irreplaceable and inimitable resources, with special emphasis on intangibles, constructed in lengthy and risky processes or strategically accumulated via mergers and acquisitions (M&A). To analyze how the...
Persistent link: https://www.econbiz.de/10013079931