Do jurisdictions with concentrated ownership structures require less reliance on audits as corporate governance mechanisms and devices? Why do concentrated ownership structures still prevail in certain jurisdictions which are considered to be “market based corporate governance systems”? More...

In this paper, we propose a model including the trading stage (acquisition of shares and blockholder disclosure) and the governance stage of activism. We analyze the blockholder's timing of disclosure, allowing for a strategic behavior. In some cases, the blockholder voluntarily renounces to use...

The article is devoted to the research of consolidation processes in the banking system of Ukraine and the problem of banks' non-disclosure of complete information about ownership structure and corporate structure. On the ground of normative statements of international authorities on banking...

Although large shareholders have sufficient influence to engage privately with management, extant literature provides inconclusive evidence on the relation between large equity positions and corporate disclosure. This study examines whether large shareholders’ portfolio diversification affects...

Using a sample of 49 countries, La Porta et al. show that countries whose legal rules originate in the common-law tradition tend to protect investors considerably more than the countries whose legal rules originate in the civil-law, and especially the French-civil-law tradition, with the...

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