This study aims to explore the relationship between the new approach of creditor control rights measurement (introduced by Feldhütter, Hotchkiss, and Karakaş (2016)) and corporate governance as well as firm investments activities. The new measure is constructed from the price difference...

This paper investigates the impact of ETF ownership on seasoned equity offerings (SEOs). We find that increases to firms’ ETF ownership is positively related to their propensity to conduct an SEO. ETF ownership is also associated with less negative SEO announcement returns, smaller discounts,...

This paper empirically tests the bottleneck co-ownership theory presented in Boffa and Panzar (2012) by using data in the US airline industry. We present a structural model of codesharing between major airlines and regional airlines. The empirical evidence in this study supports the bottleneck...

Power-to-gas (PtG), a technology that converts electricity into hydrogen, is expected to become a core component of future low-carbon energy systems. While its economics and performance as a sector coupling technique have been well studied in the context of perfectly competitive energy markets,...

This article deals with cases in which the obligation to launch a mandatory takeover bid is linked, not to the acquisition of a controlling interest, but to the signing of a simple voting agreement between shareholders that together exceed the mandatory bid threshold. The rationale behind this...

This paper examines both the desirability and feasibility of technology transfers in a setting where institutions governing the security of output or income are imperfect. Based on a guns-versus-butter model involving two countries (a technology leader and a technology laggard), our analysis...

This study aims to identify & analyze the impact of tax planning, dividend policy & corporate ownership on the business cost of manufacturing companies in the food and beverage sub-sector traded on the Indonesian Stock Exchange for 2017-2020. The data collection uses secondary data from...

This paper looks at the populations of state-owned banks and foreign-owned banks in Russia in dynamics from 1991 to 2023, focusing on the number of entities and their market shares. The paper also features subsamples within each of those two ownership types, thus improving the homogeneity of...

Market concentration and weak competition do not just lead to lower efficiency, but also result in corporate profits flowing primarily to wealthy households that own a disproportionate share of public corporations. We demonstrate that this is a growing distributional problem not only due to...

Minority shareholder activism (MSA) on online interactive platforms is a new form of corporate governance in China. This paper investigates whether and how dividend-related MSA affects corporate dividend policies. We find listed firms are more likely to pay dividends and raise payout ratios with...