implement a control strategy, which consists of low effort discretion and little or no rent-sharing, or they implement a trust … control strategy prevails, while the possibility of screening renders the trust strategy profitable. The introduction of …

the subsequent 100 years, and comparing the pattern of ownership and control with a sample incorporated around 1960. We …

principals who control. The reason is that most agents lower their performance as a response to the signal of distrust created by …

restructuring, investors focus control on poorly performing companies. These results stand in contrast to the US, where there is …

pyramid structures can be used for control purposes. The static relation of ownership to control in Germany is therefore … is an active market in share blocks giving rise to changes in control, but the gains are limited and accrue solely to the … holders of large blocks, not to minority investors. We provide evidence of low overall benefits from control changes and the …

We argue that profit-maximizing media help overcome the problem of "rational ignorance" highlighted by Downs (1957) and … combining it with entertainment, media are able to inform passive voters on politically relevant issues. To show the impact this ….S. representatives and senators in the early part of the 20th century. We also show under what conditions profit-maximizing media will …

We compare the advertising intensity and content of programming in a market with competing media platforms. With pay …-tv media platforms have two sources of revenues, advertising revenues and revenues from viewers. With free-to-air media …

In this Paper we discuss the role of the media in pressuring corporate managers and directors to behave in ways that … anecdotal and systematic evidence that media affect companies’ policy toward the environment and the amount of corporate …