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The scientific interest has arisen from many questions related to the collateral with title transfer of the ownership. Why EU law adopted an old and prohibited for many centuries and many legal systems title transfer collateral in Financial Collateral Directive (FCD)? Through the centuries it...
Persistent link: https://www.econbiz.de/10013156339
Creditors, though, are not regarded as the members of a company, yet the role they play in maintaining a company cannot … virtue of lending money by the creditors to the company, the company becomes debtor to the creditor and hence is under an … obligation to take proper care of the interest of the creditors. Previously, there were no such enactments that provide relief to …
Persistent link: https://www.econbiz.de/10013073091
I study the relation between internal governance and creditor governance. A deterioration in creditor governance may increase the agency costs of debt and managerial opportunism at the expense of shareholders. I exploit the introduction of credit default swaps (CDS) as a negative shock to...
Persistent link: https://www.econbiz.de/10011597199
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fraction of issuers retained centralized control through previously undisclosed code permitting modification of the entities …
Persistent link: https://www.econbiz.de/10012898759
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Are corporate charters and bylaws contracts? What is the scope or subject matter of the corporate contract? Is access to litigation part of the bundle of rights that shareholders purchase when they buy shares in a corporation? This book chapter, “Litigation Rights and the Corporate...
Persistent link: https://www.econbiz.de/10012963466
Economic models routinely assume firms maximize shareholder wealth; however common law legal systems only require that officers and directors pursue the interests of the corporation, leaving this ill-defined. Economic arguments for shareholder wealth maximization derived from shareholders'...
Persistent link: https://www.econbiz.de/10012955820
Economic models routinely assume firms maximize shareholder wealth; however common law legal systems only require that officers and directors pursue the interests of the corporation, leaving this ill-defined. Economic arguments for shareholder wealth maximization derived from shareholders'...
Persistent link: https://www.econbiz.de/10012955910
State corporate laws require shareholder approval for corporate charter amendments, but only the board of directors has the power to propose how to amend charters. The directors' exclusive power over charter amendment proposals creates a potential for managerial opportunism by refusing to...
Persistent link: https://www.econbiz.de/10012903567