In family firms, the succession of controlling equity stake to next generation is an issue of paramount importance. This, however, can be a major...
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Although controlling shareholder agency problems have been well studied so far, many questions still remain unanswered. In particular, an important...
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Using the pay restriction imposed on CEOs of centrally administered state-owned enterprises (CSOEs) in China in 2009, we study the effects of limiting...
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Preemptive rights are thought to protect minority shareholders from cheap-stock tunneling by a controlling shareholder. We show that preemptive...
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Insiders (managers and controlling shareholders) can extract (tunnel) wealth from firms using a variety of methods. This article examines the...
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This study documents how group trademarks, comprising the business group’s name and logo, can be used for the benefit of controlling families at the...
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This paper examines how executive pay is set when a firm is a business group member. Using Korea as a laboratory setting, we find that member firm?s cash...
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A central challenge in the regulation of controlled firms is curbing rent extraction by controllers. As independent directors and fiduciary duties are...
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This paper assesses how Italian companies have implemented the regulation on related party transactions enacted by Consob in 2010. Companies have been...
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This paper is the introductory chapter of Luca Enriques and Tobias Tröger (eds.), The Law and Finance of Related Party Transactions (Cambridge...
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We model and test the mechanisms through which securities law affects tunneling and tunneling affects firm valuation. In 2002, Bulgaria adopted...
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