Shareholder Rights

Identifying the Effect of Managerial Control on Firm Performance

Using a unique sample, we attempt to identify the consequence of the separation between inside ownership and control for firm performance. We exploit...

Shareholder Rights and Shareholder Activism: The Role of the General Meeting of Shareholders

Does Diversification of Share Classes Increase Firm Value?

Firms can issue stocks classified in many ways. They can be classified in respect to voting rights, dividend rights, redemption rights, conversion...

Which Firms Require More Governance? Evidence from Mutual Funds' Revealed Preferences

This paper estimates mutual funds’ preferences for governance structures, using data on proxy vote records. I elicit funds’ revealed preferences...

The New Corporate Law of Corporate Groups

This Article examines how corporate law treats legal entity boundaries in groups of companies. This is a critical question given that large...

Am I right or am I right? Dividend privileges and the value of voting rights

Should Shareholders Have a Say on Acquisitions?

Shareholders of U.S. corporations have lost billions of dollars in acquisitions they never approved. In the United Kingdom the listing...

Shareholder Protection and Stock Market Development: An Empirical Test of the Legal Origins Hypothesis

We 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...

Efficiency of Share-Voting Systems: Report on Sweden

Empowering the Audit Committee and the Auditor in Related Party Transactions

Currently, the European approach addressing related party transactions is exclusively relying on the disclosure and partial control of the...

How Useful are Commercial Corporate Governance Ratings in Emerging Markets?

A central issue in evaluating the effects of corporate governance (CG) is how to measure it. Some researchers measure firm-level CG using...

Did Corporate Governance 'Fail' During the 2008 Stock Market Meltdown? The Case of the S&P 500

In 2008, share prices on U.S. stock markets fell further than they had during any one year since the 1930s. Does this mean corporate governance...