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This chapter documents the evolution of ownership and control of firms around the world over a hundred year period from … stock markets and contrasts these with the persistent patterns of ownership that are observed in many countries around the … world. In particular, it documents the growth in dispersion in ownership that took place in many countries from the early …
Persistent link: https://www.econbiz.de/10014023371
After the financial crisis, there has been considerable debate about the role of corporations in society. It has become broadly accepted that corporations - particularly the world's largest publicly traded corporations – need to be governed with respect for the society and the environment....
Persistent link: https://www.econbiz.de/10012987369
Persistent link: https://www.econbiz.de/10003379168
Despite the crypto-market crash in the spring of 2022 and the collapse of FTX in November 2022, decentralised finance (DeFi) proponents are still predicting that DeFi may soon go mainstream. As well as the increasing involvement of regulated financial institutions in the DeFi area, the incipient...
Persistent link: https://www.econbiz.de/10014388689
The financing of infrastructures is a major topic in recent energy policy debates. Project finance, as a specialized form of debt finance, thereby has become a well-established financing tool. This paper contributes a qualitative and quantitative analysis of the determinants of the debt ratio in...
Persistent link: https://www.econbiz.de/10010467102
This paper studies the effect of common ownership on corporate social responsibility (CSR). We find that common … ownership is positively associated with a firm's CSR score. The effect is stronger for firms in more competitive industries. We …
Persistent link: https://www.econbiz.de/10012826362
ownership and risk-taking. These findings are consistent with the distorted objectives associated with government control, as … suggested by the political benefits of control, and with the soft budget constraint views of state ownership. The distortion can …We examine the relation between state residual ownership and bank risk-taking for privatized banks from 45 countries …
Persistent link: https://www.econbiz.de/10012850119
The financing of infrastructures is a major topic in recent energy policy debates. Project finance, as a specialized form of debt finance, thereby has become a well-established financing tool. This paper contributes a qualitative and quantitative analysis of the determinants of the debt ratio in...
Persistent link: https://www.econbiz.de/10014036488
In recent years, demutualized stock exchanges have been increasingly engaging in M&A and alliance activities. To examine the effect of these growth strategies on exchange shareholders' value creation, we focus on 14 public stock exchanges and investigate their short-run share price responses to...
Persistent link: https://www.econbiz.de/10013143336
In recent years, demutualized stock exchanges have increasingly engaged in M&A and alliance activities. To shed light on this topic, we investigate short-run share price responses to the formation of 110 stock exchange M&As and alliances in the period 2000–2008. Our findings show that the...
Persistent link: https://www.econbiz.de/10013147413