Search Results - subject:"Dual Class Shares"

Family control and debt when dual-class shares are restricted : the case of Poland

Jewartowski, Tomasz; Kałdoński, Michał - In: Emerging markets finance & trade : a journal of the … 51 (2015) 1, pp. 174-187

Persistent link: https://www.econbiz.de/10011344340

The long-term valuation effects of voluntary dual class share unifications

Lauterbach, Beni; Pajuste, Anete - In: The journal of corporate finance : contracting, … 31 (2015), pp. 171-185

Persistent link: https://www.econbiz.de/10011289984

Corporate payout policy in dual-class firms

Jordan, Bradford D.; Liu, Mark H.; Wu, Qun - In: Journal of Corporate Finance 26 (2014) C, pp. 1-19

We examine corporate payout policy in dual-class firms. The expropriation hypothesis predicts that dual-class firms pay out less to shareholders because entrenched managers want to maximize the value of assets under control and the associated private benefits. The pre-commitment hypothesis...

Persistent link: https://www.econbiz.de/10010776953

Dual-class unifications and corporate governance in Brazil

Bortolon, Patrícia M.; Câmara Leal, Ricardo P. - In: Emerging Markets Review 20 (2014) C, pp. 89-108

We investigate dual-class unifications in a period following the successful inception of a premium single-class listing segment. Firms that unified increased their market liquidity. Investment opportunities and shareholder rights convergence drove unification of firms that later joined the new...

Persistent link: https://www.econbiz.de/10011056978

Dual-class unifications and corporate governance in Brazil

Bortolon, Patrícia M.; Leal, Ricardo Pereira Câmara - In: Emerging markets review 20 (2014), pp. 89-108

Persistent link: https://www.econbiz.de/10010419458

Corporate payout policy in dual-class firms

Jordan, Bradford D.; Liu, Mark H.; Wu, Qun - In: The journal of corporate finance : contracting, … 26 (2014), pp. 1-19

Persistent link: https://www.econbiz.de/10010382673

Do anti-tekeover devices affect the takeover likelihood or the takeover premium?

Holmen, Martin; Nivorozhkin, Eugeniy; Rana, Rakesh - In: The European journal of finance 20 (2014) 4/6, pp. 319-340

Persistent link: https://www.econbiz.de/10010462071

Why votes have a value

Dittmann, Ingolf; Kübler, Dorothea; Maug, Ernst; … - 2007

We perform an experiment where subjects pay for the right to participate in a shareholder vote. We find that experimental subjects are willing to pay a significant premium for the voting right even though there should be no such premium in our setup under full rationality. Private benefits from...

Persistent link: https://www.econbiz.de/10010263711

Why Votes Have a Value

Dittmann, Ingolf; Kübler, Dorothea; Maug, Ernst; … - Sonderforschungsbereich 649: Ökonomisches Risiko, … - 2007

reading of the literature on dual class shares and contains a proof and more details on the experiments. 2 The model 2 … impact of their own vote on their payoffs is negligible. JEL Classification: C92, D72, G32 Keywords: Voting, dual-class … class shares. Within our setup we can separate the instrumental and the non-instrumental aspects of voting. We develop two …

Persistent link: https://www.econbiz.de/10005677946

Corporate Governance and Investments in Scandinavia - ownership concentration and dual-class equity structure

Eklund, Johan E. - Centre of Excellence for Science and Innovation … - 2007

Juridical-political theories suggest that legal origin (La Porta et al. (1997)) and political factors (Roe (2003)) matters for firm performance. In Scandinavia there are a number of legal practices, with common political roots, that impinge on the distribution of corporate control, which...

Persistent link: https://www.econbiz.de/10005419306