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Author: Kose John
Publisher: Emerald Group Publishing
ISBN: 1783501219
Category : Business & Economics
Languages : en
Pages : 269
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Book Description
Advances in Financial Economics Vol. 16 contains a set of empirical papers by a set of global scholars who examine corporate governance and market regulation from a variety of perspectives.
Author: Kose John
Publisher: Emerald Group Publishing
ISBN: 1783501219
Category : Business & Economics
Languages : en
Pages : 269
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Book Description
Advances in Financial Economics Vol. 16 contains a set of empirical papers by a set of global scholars who examine corporate governance and market regulation from a variety of perspectives.
Author: Amrinder Khosa
Publisher: Cambridge University Press
ISBN: 1108624863
Category : Business & Economics
Languages : en
Pages :
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Book Description
Concentrated ownership is considered to be the best protection for shareholders in economies where legal protection is relatively weak. This book investigates and concludes, for Indian business groups, that concentrated-inside ownership provides opportunities for the expropriation of minority shareholders. While more concentrated direct ownership of controlling families results in a higher market value of equity, indirect ownership obtained through cross-holding provides incentives to extract private benefits and results in value loss. This finding requires the prompt attention of regulatory bodies, outside investors and other interested parties. This book examines the effect of ownership structure and disclosure of related-party transactions on firm valuation of group-affiliated firms in India, by using a sample of 317 listed firms comprising 1350 firm-year observations from 2008 to 2017. Well-accepted value-relevance models are employed to examine the effect of ownership rights on market value of equity and valuation effect of RP trading, asset transfer, investment and loan transactions.
Author: Luca Enriques
Publisher: Cambridge University Press
ISBN: 9781108453738
Category : Law
Languages : en
Pages : 538
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Book Description
A globe-spanning group of leading law and finance scholars bring together cutting-edge research to comprehensively examine the challenges legislators face in regulating related party transactions in a socially beneficial way. Combining theoretical analysis of the foundations of efficient regulation with empirical and comparative studies, readers are invited to draw their own conclusions on which regulatory responses work best under differing circumstances. The careful selection of surveyed jurisdictions offers in-depth insight into a broad variety of regulatory strategies and their interdependence with socioeconomic and political conditions. This work should be read by scholars, policymakers, and graduate students interested in a critical, much-debated area of corporate governance.
Author: Mark J. Kohlbeck
Publisher:
ISBN:
Category :
Languages : en
Pages : 53
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Book Description
We investigate whether family firms are more likely to engage in related party transactions (RPTs) and the impact of RPTs on the previously documented family firm value premium (Anderson and Reeb 2003). While RPTs are strategic in some situations and opportunistic in others (Kohlbeck and Mayhew 2010; Ryngaert and Thomas 2012), family firms are particularly prone to opportunism through RPTs because family members tend to have more power than their ownership stakes predict. We expect RPTs to reduce the family firm premium due the existence of so called type II agency costs from agency conflicts between controlling and minority shareholders and the potential opportunistic behavior represented by RPTs. Based on an extensive hand-collected sample, we find that family firms are more likely to enter into RPTs and the family firm value premium declines when family firms report RPTs. Further, all RPTs are not the same as the declining value premium is only associated with 1) RPTs with directors, officers, and major shareholders, or 2) those considered more opportunistic (tone RPTs).
Author: Stijn Claessens
Publisher:
ISBN:
Category : Capital market
Languages : en
Pages : 36
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Book Description
This paper investigates the benefits and associated agency costs of using internal capital markets through affiliating with groups using data of two thousand firms from nine East Asian economies between 1994-96. We find that mature and slow-growing firms with ownership structures more likely to create agency problems gain more from group affiliation, while young and high-growth firms more likely lose. Agency problems are important explanatory factors of firm value in economies outside Japan, but less so in Japan. Consistent with the literature, financially-constrained firms benefit from group affiliation. Our results are robust to different time periods and estimation techniques.
Author: Farinha, Luís
Publisher: IGI Global
ISBN: 1799821374
Category : Business & Economics
Languages : en
Pages : 487
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Book Description
The competitive nature of organizations in today’s globalized world has led to the development of various approaches to increasing profitability and maintaining an advantage over rival companies. As technology continues to be integrated into business practices, specifically in the area of accounting and finance, professionals and educators need to be prepared for advancing economic techniques, and they need to maintain a high level of financial literacy. The Handbook of Research on Accounting and Financial Studies is a pivotal reference source that provides vital research on advanced knowledge and emerging business practices and teaching dynamics in the fields of accounting and finance. While highlighting topics such as cost-benefit analysis, risk management, and corporate governance, this publication explores new initiatives in entrepreneurship and performance management. This book is ideally designed for business managers, consultants, entrepreneurs, auditors, tax practitioners, economists, accountants, academicians, researchers, and students seeking current research on modern advancements and recent findings in accounting and financial studies.
Author: OECD
Publisher: OECD Publishing
ISBN: 9264168001
Category :
Languages : en
Pages : 122
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Book Description
The publication reviews provisions covering related party transactions and the protection of minority shareholder rights in 31 jurisdictions, both OECD and non-OECD. In addition, the regulatory and legal systems that have beeen developed in five jurisdictions are reviewed in detail.
Author: Management Association, Information Resources
Publisher: IGI Global
ISBN: 1668435519
Category : Business & Economics
Languages : en
Pages : 1146
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Book Description
Family-owned businesses account for many of the small and medium-sized enterprises that exist around the world in various industries. Due to their unique make up, these firms are often heavily influenced by family dynamics that must be reconciled by family and non-family workers alike in order to ensure the sustainability of the business. As smaller businesses competing against an increasingly globalized economy and more directly impacted by economic instability, especially in the wake of the COVID-19 pandemic, these businesses must continue to improve their practices and processes in order to not only survive but thrive. The Research Anthology on Strategies for Maintaining Successful Family Firms discusses the strategies, sustainability, and human aspects of family firms in order to understand what sets them apart from other businesses and how they can survive and compete in a globalized economy. This book discusses the unique dynamic brought by family firms that offers both opportunities and challenges for a growing business. Covering topics such as corporate venturing, the family unit, and business ethics, this text is an essential resource for family firms, entrepreneurs, managers, business students, business professors, researchers, and academicians.
Author: Jeffrey Neil Gordon
Publisher: Oxford University Press
ISBN: 0198743688
Category : Business & Economics
Languages : en
Pages : 1217
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Book Description
Corporate law and governance are at the forefront of regulatory activities worldwide, and subject to increasing public attention in the wake of the Global Financial Crisis. Comprehensively referencing the key debates, the Handbook provides a much-needed framework for understanding the aims and methods of legal research in the field.
Author: Chee Yoong Liew
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
