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The political economy of dominant investors

Perotti, Enrico C.; Thadden, Ernst-Ludwig von - 2005

We allow the preference of a political majority to determine boththe corporate governance structure and the division of profits betweenhuman and financial capital. In a democratic society where financialwealth is concentrated, a political majority may prefer to restraingovernance by dispersed...

Persistent link: https://www.econbiz.de/10011337975

International mergers with financially constrained owners

Berg, Aron; Norbäck, Pehr-Johan; Persson, Lars - 2012

This paper proposes a cross-border M&A model with financially constrained owners in which the identity of the buyer and seller can be determined. We show that policies blocking foreign acquisitions to protect the domestic industry can be counterproductive. Foreign acquisition can increase the...

Persistent link: https://www.econbiz.de/10009625136

Performance benefits of tight control

Gill, Andrej; Visnjic, Nikolai - 2013

This study investigates the transition from being a listed company with a dispersed ownership structure to being a privately held company with a concentrated ownership structure. We consider a sample of private equity backed portfolio companies to evaluate the consequences of the corporate...

Persistent link: https://www.econbiz.de/10010225758

Short-termism, shareholder payouts, and investment in the EU

Fried, Jesse M.; Wang, Charles C. Y. - 2020

Investor-driven "short-termism" is said to harm EU public firms' ability to invest for the long term, prompting calls for the EU to better insulate managers from shareholder pressure. But the evidence offered---rising levels of repurchases and dividends---is incomplete and misleading: it ignores...

Persistent link: https://www.econbiz.de/10012511344

Issues in corporate control and the performance of corporations

Stangeland, David Alan - 1994

Persistent link: https://www.econbiz.de/10000977214

Hostile stakes and the role of banks in German corporate governance

Jenkinson, Tim; Ljungqvist, Alexander - 1997

Persistent link: https://www.econbiz.de/10000974519

Block investment and partial benefits of corporate control

Zwiebel, Jeffrey - 1991

Persistent link: https://www.econbiz.de/10000914515

Unternehmensübernahmen als Instrument der Managementkontrolle? : Eine Analyse am Beispiel der USA

Preuschl, Manuela - 1997

Persistent link: https://www.econbiz.de/10001376446

Transfers of corporate control in firms with non-controlling blockholders

Stepanov, Sergey - 2015

Persistent link: https://www.econbiz.de/10011413800

White knights and the corporate governance of hostile takeovers

Calcagno, Riccardo; Falconieri, Sonia - 2008

We analyze the dynamics of takeover contests where hostile raiders compete against white knights involved by a lead … to set a minimum takeover price. We characterize the conditions under which a white knight wins the takeover contest … white knights as an anti-takeover device and the role played by leading minority blockholders in the market for corporate …

Persistent link: https://www.econbiz.de/10011377390

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