costs, to quantify the return to inversion for different shareholders. Foreign and tax-exempt investors, along with the … taxable shareholders. The model illustrates an agency conflict in which heterogeneity in personal taxes generates a wealth … transfer between shareholders. Furthermore, personal taxes offset the loss in government revenue by 39% …

I investigate whether implementation of the mandatory bid rule – the rule that grants all shareholders the right to …

.S. But we argue that outside investors in European listed firms with controlling shareholders are poorly protected compared … shareholders rather than shielding passive investors, is not well suited for controlled, listed firms. This approach translates … into a lack of definition and development of specific fiduciary duties of the controlling shareholders towards market …

shareholders. As a result, these directors have incentives to go along with controllers' wishes, or, at least, inadequate … that allows policymakers to produce the precise balance of power between controlling shareholders and public investors that …