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effects of a new SEC rule designed to lessen managerial power by increasing large, long-term shareholders' influence in the …
Persistent link: https://www.econbiz.de/10013103903
The European Shareholder Rights Directive provides shareholders the right to ask questions related to the items on the … – smaller shareholders. The mean number of questions per meeting is twenty-five, with an underrepresented number of questions of …
Persistent link: https://www.econbiz.de/10013104876
Shareholders call for more attention after the crisis: confidence will have to be restored to convince them to … recapitalise the financial firms. Five topics are addressed here: shareholders should be able to effectively exercise their rights … calling on more stable, active institutional shareholders, an objective that may be at odds with “one share, one vote …
Persistent link: https://www.econbiz.de/10013153096
In Germany, shareholders' agreements were discussed primarily as a company law issue but are of practical importance … also in listed companies. Shareholders' agreements occur primarily in family held stock corporations but are at least not … disclosed in all firms with different family members as shareholders. Forms of shareholders' agreements are: shareholder voting …
Persistent link: https://www.econbiz.de/10013085043
This paper studies the link between the agency costs of equity and the agency costs of debt. Using a unique sample of the ownership structure of single and dual class firms as well as hand-collected data on loan contracts, we find that the agency cost of debt – proxied by various loan...
Persistent link: https://www.econbiz.de/10013091502
This article answers, in the affirmative, two core research questions: do we need long-term shareholders and can we … find them? The economy needs long-term shareholders to provide prudent and profitable patient capital, generate an antidote … to corporate short-termism and spearhead managerial accountability. Finding these shareholders requires a structure that …
Persistent link: https://www.econbiz.de/10013092332
Presumably, shareholder rights aim to better align the actions of managers with the interests of shareholders; however …, it is not clear from prior research whether such alignment mitigates or exacerbates managers' propensity to manage … earnings. We document that when shareholder rights are stronger, managers are more likely to manage earnings upward to meet …
Persistent link: https://www.econbiz.de/10013064953
Judges have concluded that shareholders have no status fiduciary duty to their corporations. They have also concluded … that majority shareholders have a status duty to minority shareholders. Both conclusions are wrong …
Persistent link: https://www.econbiz.de/10013065444
consulenza, per provare, sotto determinate ipotesi, che la creazione di valore per gli shareholders e quella per gli stakeholders … that the supposed contradiction between value creation for the shareholders and for the various stakeholders can be … the shareholders and for the stakeholders are objectives only apparently antithetical …
Persistent link: https://www.econbiz.de/10013066102
This paper analyzes how announce changes in the corporate control (takeover) of Endesa, Hidrocantábrico and Scottish … MCO models. Also, the results suggest the announcement of the launching of a takeover positively and significantly affects …
Persistent link: https://www.econbiz.de/10013066666