Managers, Workers, and Corporate Control
If management has high private benefits and a small equity stake, managers and workers are natural allies against takeover threats. Two forces are at...
Read moreIf management has high private benefits and a small equity stake, managers and workers are natural allies against takeover threats. Two forces are at...
Read moreThis study investigates the employment consequences of private equity acquisitions, in particular institutional buy-outs (IBOs), in the UK. It...
Read moreWe proxy for board members’ differences in opinions and values using directors’ ancestral origins and show that diversity has costs and benefits,...
Read moreWe test the 'law matters' and 'legal origin' claims using a newly created panel dataset measuring legal change over time in a sample of developed and...
Read moreWe use data from the U.S. airline industry to test the hypothesis, consistent with the general equilibrium oligopoly model of Azar and Vives...
Read moreThis article explores the influence of the pension system on corporate governance, which has so far received little attention in the corporate law...
Read moreThis paper is the first study of long-run evolution of investor protection and corporate ownership in the U.K. over the 20th century. Formal investor...
Read moreThis paper provides the first comprehensive study of mutual fund voting in proxy contests. Funds tend to vote against incumbent management at firms with...
Read moreIn large U.S. corporations, founding families are the only blockholders whose control rights on average exceed their cash flow rights. We analyze how...
Read moreWe examine evidence for a systematic underperformance of Germany's state-owned banks in the current financial crisis and study if the bank losses can be...
Read moreThis paper presents an industry equilibrium model where firms have a choice to engage in corporate social responsibility (CSR) activities. We model CSR...
Read moreHedge funds have become critical players in both corporate governance and corporate control. In this article, we document and examine the nature of...
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