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Methods for Multicountry Studies of Coporate Governance: Evidence from the BRIKT Countries
Black, Bernard; De Carvalho, Antonio Gledson; Khanna, … - 2014
We discuss empirical challenges in multicountry studies of the effect of firm-level corporate governance on firm value, focusing on emerging markets. We assess the severe data, “construct validity,” and endogeneity issues in these studies, propose methods to respond to those issues, and...
Persistent link: https://www.econbiz.de/10015242834
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In search of the "lost capital". A theory for valuation, investment decisions, performance measurement
Magni, Carlo Alberto - 2007
nonstandard theory of residual income. It is derived from the notion of "unrecovered" capital, which is here named "lost" capital … the simple average residual income play a major role in valuation; a dual relation between the standard theory and the … lost-capital theory is proved, clarifying the way periodic performance is computed in the two paradigms and the rationale …
Persistent link: https://www.econbiz.de/10015218254
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In search of the "lost capital". A theory for valuation, investment decisions, performance measurement
Magni, Carlo Alberto - 2007
nonstandard theory of residual income. It is derived from the notion of "unrecovered" capital, which is here named "lost" capital … the simple average residual income play a major role in valuation; a dual relation between the standard theory and the … lost-capital theory is proved, clarifying the way periodic performance is computed in the two paradigms and the rationale …
Persistent link: https://www.econbiz.de/10015218329
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Measuring performance and valuing firms: In search of the lost capital
Magni, Carlo Alberto - 2007
Residual income as commonly described in academic papers and in real-life applications may be formally described as a function of three variables: (i) the capital invested, (ii) the rate of return, (iii) the opportunity cost of capital. This paper shows that a different paradigm of residual...
Persistent link: https://www.econbiz.de/10015258876
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Measuring performance and valuing firms: In search of the lost capital
Magni, Carlo Alberto - 2007
Residual income as commonly described in academic papers and in real-life applications may be formally described as a function of three variables: (i) the capital invested, (ii) the rate of return, (iii) the opportunity cost of capital. This paper shows that a different paradigm of residual...
Persistent link: https://www.econbiz.de/10015261786
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Corporate governance of banks: the current state of the debate.
Polo, Andrea - 2007
Since banks are among the most important sources not only of finance but also of external governance for firms, the corporate governance of banks is a crucial factor for growth and development. Despite its importance, this topic has been explored only by a few studies. While some authors...
Persistent link: https://www.econbiz.de/10015221979
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The Case for Mandatory Ownership Disclosure
Schouten, Michael C. - 2009
The use of equity derivatives to conceal economic ownership of shares (“hidden ownership”) is increasingly drawing attention from the financial community, as is the exercise of voting power without corresponding economic interest (“empty voting”). Market participants and commentators...
Persistent link: https://www.econbiz.de/10015215295
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The Case for Mandatory Ownership Disclosure
Schouten, Michael C. - 2009
The use of equity derivatives to conceal economic ownership of shares (“hidden ownership”) is increasingly drawing attention from the financial community, as is the exercise of voting power without corresponding economic interest (“empty voting”). Market participants and commentators...
Persistent link: https://www.econbiz.de/10015216111
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The Case for Mandatory Ownership Disclosure
Schouten, Michael C. - 2009
The use of equity derivatives to conceal economic ownership of shares (“hidden ownership”) is increasingly drawing attention from the financial community, as is the exercise of voting power without corresponding economic interest (“empty voting”). Market participants and commentators...
Persistent link: https://www.econbiz.de/10015216643
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An Analysis of Omitted Shareholder Proposals
Boylan, Robert; Cebula, Richard; Foley, Maggie; Liu, Xiaowei - 2013
We intend to reveal the causes and the determinants of the omitted shareholder proposals. We find that individual investors are mostly likely to submit a proposal being excluded from the proxy ballot. Since individual investors are not so skillful as institutional investors, we summarize that...
Persistent link: https://www.econbiz.de/10015242939