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Blockholder and Firm Performance : Quasi-Experiment Using Japanese Bank Mergers

Suzuki, Katsushi - 2014

ratio by the blockholder affects companies' operating performance and bank-firm relationships. In Japan, banks are …

Persistent link: https://www.econbiz.de/10013063183

Chapter 1. Corporate Governance and Control

Becht, Marco; Bolton, Patrick; Röell, Ailsa - 2003

Corporate governance is concerned with the resolution of collective action problems among dispersed investors and the reconciliation of conflicts of interest between various corporate claimholders. In this survey we review the theoretical and empirical research on the main mechanisms of...

Persistent link: https://www.econbiz.de/10014023875

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

The political economy of dominant investors

Perotti, Enrico; 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

The Power to Decide on Takeovers : Directors or Shareholders, What Difference Does It Make?

Gatti, Matteo - 2014

contribution is to show who actually has power in a takeover and what factors are at work to give such power. Although directors … are traditionally considered to be in charge in deciding the outcome of a hostile takeover of a Delaware corporation … lack the power to determine the outcome of a takeover bid, the reason for that is not embedded in the takeover regime …

Persistent link: https://www.econbiz.de/10014153473

Minority Shareholders' Enforcement of Corporate Governance in Takeovers : An English Law Perspective on the Belgian Fortis Bank Case

Lee, Joseph - 2016

The Fortis Bank takeover court case demonstrates how shareholders' claims can make a merger and takeover case less … speedy and, indeed, more costly. The case also raises a number of legal issues relating to corporate governance in a takeover …-market efficiency and social-legal justice in intervening in a financial takeover. The case reveals the divergent views taken by the two …

Persistent link: https://www.econbiz.de/10012998313

CEO Duality and Corporate Stewardship : Evidence from Takeovers

Ghazal, Victor - 2015

in the interest of their shareholders by bargaining 16.1% more aggressively in takeover negotiations than do single role …

Persistent link: https://www.econbiz.de/10013021327

Inefficient Sales of Corporate Control Under Mandatory Bid Rule

Iida, Hidefusa - 2015

Separating the value-increasing takeovers from the value-decreasing takeovers is the ideal goal in designing the legal rule on takeovers. The previous studies showed that the Mandatory Bid Rule stops all of the inefficient sales of corporate control. However, this paper, by using the negative...

Persistent link: https://www.econbiz.de/10013025932

CEO Turnover in LBOs : The Role of Boards

Cornelli, Francesca - 2015

We examine the CEO turnover in LBOs backed by private equity funds. When a company is taken private, we find that the CEO turnover decreases and is less contingent on performance. We also find that a higher involvement of the LBO sponsors, who replace the outside directors on the board after...

Persistent link: https://www.econbiz.de/10013035557

Geographic Concentration of Institutional Investors and the Market for Corporate Control

Huang, Jiekun - 2019

shareholders experience significantly higher abnormal returns around the takeover announcement. In a similar vein, acquirer firms …

Persistent link: https://www.econbiz.de/10012905918