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The Nasdaq Stock Market's enforcement activities offer a unique setting for investigating the consequences of changes in corporate governance as evidenced by deficiency notices. We document significant negative abnormal returns in response to Nasdaq deficiency notices for audit committee and...
Persistent link: https://www.econbiz.de/10012972580
One of the main objections for the stakeholder management has been between Shareholders and other stakeholders. Noted … premise that the shareholders are the true owners of the company. One need to go to the purpose of the corporation as it … profits for the shareholders but they would not be adding real value to the society unless they are obliged to take effective …
Persistent link: https://www.econbiz.de/10012949034
, powerful Chief Executive Officers (CEO's) have been forced out by the board members, employees, shareholders, and the …
Persistent link: https://www.econbiz.de/10012949959
This paper analyzes the wave of board destaggering that has occurred over the past fifteen years. Other studies have concluded that the result of this phenomenon has been a substantial destruction of firm value, purportedly caused by re-orienting management from a long-term to short-term focus....
Persistent link: https://www.econbiz.de/10012953246
For three academic years (2011-2014), the Harvard Law School's Shareholder Rights Project (SRP) operated a clinical program assisting institutional investors on board declassification proposals. This paper analyzes the SRP as a quasi-natural experiment to examine the value implications of...
Persistent link: https://www.econbiz.de/10012957219
objective is inextricably linked to the duties of directors. Directors, as managers of the company, are charged with the day to …
Persistent link: https://www.econbiz.de/10013019966
This article examines shareholders' contractual freedom in company law by providing a considered analysis of the … validity of shareholders' agreements in private companies. It explores a line of Hong Kong cases where the principles … by applying it restrictively: the invalidation of shareholders' agreements was based entirely on public policy of an …
Persistent link: https://www.econbiz.de/10013022684
This paper offers a critique of a recent paper, entitled “Did Harvard Violate the Federal Securities laws? The Campaign Against Classified Boards of Directors,” that was issued by SEC Commissioner Daniel Gallagher and Professor Joseph Grundfest. Gallagher/Grundfest claim that...
Persistent link: https://www.econbiz.de/10013023618
and protect the benefit of shareholders. But board of directors has emerged as an efficient approach to protect … shareholders benefit. This paper has revealed the impact of board size, number of promoter directors and independency of the board … remaining are other executives. Shareholders also get more than 90% of their returns from changes in share prices. The random …
Persistent link: https://www.econbiz.de/10013024604
rights to shareholders concerning director remuneration (say on pay) and related party transactions. Moreover, it also … imposes duties concerning an engagement policy on institutional investors and asset managers and gives rights to the … the initial Commission proposal. Both instruments are motivated by referring to the support shareholders have allegedly …
Persistent link: https://www.econbiz.de/10013027618