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Does Culture Affect Corporate Governance?

Gantenbein, Pascal; Volonté, Christophe - 2012

The legal environment is one important determinant of corporate governance. However, within legal families, also cultural differences can explain the level of corporate governance to some extent. We analyze this relationship for the case of Switzerland. Swiss firms are mainly located in two...

Persistent link: https://www.econbiz.de/10011390668

Corporate monitoring by blockholders in Europe: empirical evidence of managerial disciplining in Belgium, France, Germany, and the UK

Dherment-Ferere, Isabelle; Köke, Jens; Renneboog, Luc - 2001

This study examines managerial disciplining in poorly performing firms using large panels for Belgian, French, German and UK firms. We consider the monitoring role of large blockholders, the market for share blocks, creditors, and non-executive directors. Board restructuring is correlated to...

Persistent link: https://www.econbiz.de/10010297760

Endogenous ownership structure: Factors affecting the post-privatisation equity in largest Hungarian firms

Bishop, Kate; Filatotchev, Igor; Mickiewicz, Tomasz - 2002

Using a data set for 162 largest Hungarian firms during the period of 1994-1999 this paper explores the determinants of equity shares held by both foreign investors and by Hungarian corporations. We find evidence of a post-privatisation evolution towards more homogeneous equity structures, where...

Persistent link: https://www.econbiz.de/10011335737

Minority shareholders in the Finnish system of corporate governance

Kaisanlahti, Timo - 2002

investors. In a famous study by La Porta et al. (1998) it is concluded that the rights of shareholders are more advanced in … for equal treatment of shareholders. Moreover, we review the spezial rules of minority protection in our Companies Act to … provide a broader view of the legal landscape that Finnish minority shareholders inhabit. In passing, we make some comparisons …

Persistent link: https://www.econbiz.de/10010285271

Corporate Governance: The Role of Other Constituencies

Schmidt, Reinhard H. - 1997

should be made strictly in the interest of the present shareholders would make it difficult for the firm to establish long …-term relationships as the potential partners would have to fear that, at a later stage of the co-operation, the shareholders or a …

Persistent link: https://www.econbiz.de/10010316256

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

Andres, Christian; Betzer, André; Goergen, Marc - 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/10010291127

Riding the Waves of Reforms in Corporate Law, an Overview of Recent Improvements in Italian Corporate Codes of Conduct

Ferro, Nicoletta - 2006

corporate conduct or codes of ethics, claiming the set of values that should guide their conduct and their shareholders and …

Persistent link: https://www.econbiz.de/10010312304

The Swedish Model of Corporate Ownership and Control in Transition

Henrekson, Magnus; Jakobsson, Ulf - 2003

We analyze the development of the Swedish ownership model after World War II. The controlling ownership in Swedish firms is typically concentrated to one or two owners. Often, but not always, the controlling owners are Swedish families. Thus, the model resembles the typical corporate control...

Persistent link: https://www.econbiz.de/10010320073

The Swedish Corporate Control Model: Convergence, Persistence or Decline?

Henrekson, Magnus; Jakobsson, Ulf - 2011

This paper explores the effects of deregulation and globalization on the dominant mode of corporate governance in Swedish public firms. The effects are multidimensional - the direction of change in corporate governance cannot be determined by simply examining whether a convergence towards the...

Persistent link: https://www.econbiz.de/10010320310

New evidence on ownership structures in Germany

Köke, Jens - 1999

have a separation of ownership and control. We do not focus exclusively on the listed Aktiengesellschaft (AG) but include …

Persistent link: https://www.econbiz.de/10010297658