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or stock indices. In theory, equity swaps would result in the separation of economic interests of shareholders from their …
Persistent link: https://www.econbiz.de/10013125639
.S. But we argue that outside investors in European listed firms with controlling shareholders are poorly protected compared … shareholders rather than shielding passive investors, is not well suited for controlled, listed firms. This approach translates … into a lack of definition and development of specific fiduciary duties of the controlling shareholders towards market …
Persistent link: https://www.econbiz.de/10012940905
We survey theoretical and empirical research on antitakeover provisions, focusing on the relationship between antitakeover provisions and shareholder value. We divide the empirical studies based upon the evidence that they provide: short-term event studies, studies on performance and policy...
Persistent link: https://www.econbiz.de/10013090637
We study the economic consequences of a recent securities regulation that grants U.S. regulators broad new powers to revise or reject foreign acquisitions of firms deemed critical to U.S. national security. Our results document an important tradeoff between U.S. national security and shareholder...
Persistent link: https://www.econbiz.de/10012851816
transparency. Overall, our results suggest an expected net benefit to shareholders from the XBRL mandate …
Persistent link: https://www.econbiz.de/10012948972
federal securities regulation. The Shareholders United Act (the “Act”) — passed by the House of Representatives as part of H … political spending, public companies poll shareholders on how they want corporate political dollars to be spent, or not spent ….The Act offers an answer to the question as a matter of corporate democracy, what do shareholders need to know about how …
Persistent link: https://www.econbiz.de/10012890216
This paper is the first one that uses a panel data of different types of shareholder protection in order to examine (i) the effect of such laws on stock market development and (ii) the convergence of shareholder protection laws through cross-border mergers and acquisitions. We find significant...
Persistent link: https://www.econbiz.de/10012898598
, interrogates this view of directors' fiduciary duties from the perspective of incomplete contracting theory. Building on the … seminal work of Sanford Grossman and Oliver Hart, incomplete contracting theory examines the critical role of corporate …
Persistent link: https://www.econbiz.de/10013029752
-voting) shareholders to veto unfavorable changes in their class rights. Based on a novel hand-collected dataset of dual class stock … significant effect of improved protection of preferred shareholders on the value of their shares. The result is robust to several …
Persistent link: https://www.econbiz.de/10013149514
-voting) shareholders to veto unfavorable changes in their class rights. Based on a novel hand-collected dataset of dual class stock … significant effect of improved protection of preferred shareholders on the value of their shares. The result is robust to several …
Persistent link: https://www.econbiz.de/10014211089