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For most of the twentieth century the conventional wisdom held — probably correctly — that shareholders in America …. Beginning in the 1980s, however, shareholders in the form of institutional investors started to push for a greater say in … shareholders demanding policy changes, new dividends, board representation, and even the sale or break-up of corporations. In short …
Persistent link: https://www.econbiz.de/10013032030
companies by an application of agency theory. Corporate governance is a structure which determines how shareholders delegate … deriving from an agency relationship between shareholders and managers. New Japanese reform further develops previously …
Persistent link: https://www.econbiz.de/10012837422
The manner in which hostile takeovers have historically been executed has just begun to receive serious academic attention. Similarly, while the literature on the accuracy and determinants of share prices is voluminous, there has been little systematic historical analysis of when and how modern...
Persistent link: https://www.econbiz.de/10013017336
This paper, which was prepared for a University of Illinois College of Law symposium honoring Prof. Larry Ribstein, examines the origins of the market for corporate control in the United States. The standard historical narrative is that the market for corporate control took on its modern form in...
Persistent link: https://www.econbiz.de/10013035075
Central bank lender of last resort (LOLR) regimes are the last line of defence before governments are forced to resort to taxpayer-funded bailouts of the financial system. Yet despite this important role, along with a rich theoretical literature examining the function and design of LOLR regimes,...
Persistent link: https://www.econbiz.de/10012847864
exemption for transactions with wholly owned subsidiaries allows controlling shareholders to circumvent the rule extensively … shareholders and creditors. Hence, if the Commission choses to go down this route it might end up with a comprehensive regulation …
Persistent link: https://www.econbiz.de/10010406185
This article attempts to disentangle the various issues a public company should consider when answering the question: “to go or not to go private?” It provides a review of the literature with an eye towards coverage of the main questions a practitioner would ask. The article explores factors...
Persistent link: https://www.econbiz.de/10013104191
shareholders'/investors' suits work out in regulatory environment of the US and some EU countries, as well as point out what …
Persistent link: https://www.econbiz.de/10013084786
case. In the years preceding the financial crisis, shareholders validated the strategies of the very financial firms that … shareholders, having played a role in fomenting the crisis, have a positive role to play in its resolution.The prevailing legal … model of the corporation strikes a better balance between the powers of directors and shareholders than does the shareholder …
Persistent link: https://www.econbiz.de/10013150783
Western economists have argued that the legal environment for the protection of minority shareholders and mechanisms … for restricting the expropriation of minority shareholders will be important in determining the size and extent of a … country's capital markets. In China, the protection of minority shareholders is officially regarded as a major regulatory …
Persistent link: https://www.econbiz.de/10013158321