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Dividend Policy, Corporate Control and the Tax Status of the Controlling Shareholder

Andres, Christian; Betzer, André; Goergen, Marc - Universitätsbibliothek Wuppertal, University Library - 2012

This paper studies the impact of the concentration of control, the type of controlling shareholder and the dividend tax preference of the controlling shareholder on dividend policy for a panel of 220 German firms over 1984-2005. While the concentration of control does not have an effect on the...

Persistent link: https://www.econbiz.de/10010672202

Dividend policy, corporate control and the tax status of the controlling shareholder

Andres, Christian; Betzer, André; Goergen, Marc - 2012

Persistent link: https://www.econbiz.de/10010291127

Index membership vs. loss of voting power: The unification of dual-class shares

Betzer, André; van den Bongard, Inga; Goergen, Marc - 2017

A change in the index selection rules of Deutsche Börse provides a unique opportunity to investigate the drivers behind the decision to a bolish dual-class shares. As of June 2002, selection is based on the market capitalization of the free-float of the more liquid share class rather than the...

Persistent link: https://www.econbiz.de/10011794563

The Transfer of Control in British and German IPOs

Goergen, Marc - EconWPA - 1998

This paper analyses the evolution of ownership and control in German and UK IPOs. In a first stage we try to explain why the pre-IPO shareholders of some firms sell out whereas those of other firms do not. German IPOs are matched by size with UK IPOs to obtain a first sample and matched by...

Persistent link: https://www.econbiz.de/10005134798

Corporate Governance Convergence: Evidence From Takeover Regulation Reforms in Europe

Goergen, Marc; Martynova, Marina; Renneboog, Luc - School of Economics, Universiteit Utrecht - 2005

This paper contributes to the research on corporate governance by predicting the effects of European takeover … harmonization of the national legislations. With the help of 150 corporate governance lawyers from 30 European countries, we …-(American) corporate governance system has been started and we find that this is the case. We make predictions as to the consequences of …

Persistent link: https://www.econbiz.de/10005040861

Index membership vs. loss of voting power : the unification of dual-class shares

Betzer, André; Bongard, Inga van den; Goergen, Marc - 2017 - This version: March 2017

Persistent link: https://www.econbiz.de/10011794012

Trust and shareholder voting

Lesmeister, Simon; Limbach, Peter; Goergen, Marc - 2018

We test the hypothesis that a specific aspect of culture - trust in others - affects shareholder voting behavior as it lowers investors' concerns of being expropriated. We find consistent evidence that the percentage of votes cast at shareholder meetings is lower in high-trust countries while...

Persistent link: https://www.econbiz.de/10011879007

Trust and shareholder voting

Lesmeister, Simon; Limbach, Peter; Goergen, Marc - 2019 - This draft: January 2019

We test the hypothesis whether a specific aspect of culture - trust in others - affects shareholder voting behavior by substituting for costly monitoring. We find consistent evidence that the percentage of votes cast at shareholder meetings is lower in high-trust countries while the percentage...

Persistent link: https://www.econbiz.de/10011963228

Investment policy, internal financing and ownership concentration in the UK

Goergen, Marc (contributor); Renneboog, Luc (contributor) - 2000 - [Elektronische Ressource]

This paper investigates whether investment spending of firms is sensitive to the availability of internal funds. Imperfect capital markets create a hierarchy for the different sources of funds such that investment and financial decisions are not independent. The relation between corporate...

Persistent link: https://www.econbiz.de/10001537200

Dividend policy, corporate control and tax clienteles : the case of Germany

Andres, Christian; Betzer, André; Goergen, Marc - 2011

. -- Dividend Policy ; Payout Policy ; Lintner Dividend Model ; Tax Clientele Effects ; Corporate Governance …

Persistent link: https://www.econbiz.de/10009248245