This paper investigates the determinants of the boundaries of the firm in the movie industry using a new data set from the Spanish movie industry. These data document movie contractual renegotiation and allow me to construct a direct measure of contractual complexity for each movie. Linking this measure to the...
NORDIC BUSINESS REPORT-22 June 2007-Aker ASA, Norwegian state, Saab and Investor AB establish new strategic ownership structure for Aker Kvaerner ASAC1994-2007 M2 COMMUNICATIONS LTD http://www.m2.com
In this paper, we report on an exploratory study which examines the challenges of developing a market orientation in China, the world's largest transitional economy. Our findings suggest that, while managerial actions are relevant, in transitional economies, environmental factors, most notably, government policies are a major influence on firms' aspirations...
This paper brings about five mechanisms for encouraging ethical behavior among individuals in an organization— Repeat Sales, Warranties, Third-party monitors, Disclosure and Ownership Structure. At the end of this white paper, one would be able to identify and describe potential ethical conflicts and understand corporate policy setting.
This paper examines the relation between corporate governance and ownership structure, focusing on the role of institutional investors. In many countries, institutional investors have become dominant players in the financial markets. This discusses the theoretical basis for, history of, and empirical evidence on institutional investor involvement in shareholder monitoring. It...
Agency problems in firms are prevalent because effective corporate monitors are scarce. This article presents a model that formalizes the scarcity of effective monitors and explores its implications for corporate monitoring mechanisms and ownership structures. Their special monitoring ability is a scarce resource in the economy. These restructuring specialists are...
This paper examines the relation between legal risk - defined as the strength and enforcement of creditors' rights - and debt ownership concentration to understand the various governance roles played by banks as large creditors. Using a sample of 495 project finance loan tranches to borrowers in 61 different countries,...
This article examines what leads controlling families of publicly traded firms to sell their remaining ownership stake. It finds that this exit is best explained in the context of theories of the firm relating to the CEO succession process, optimal risk-bearing, and the separation of ownership and management expertise. It...
Vivendi Universal and Vodafone Group plc, joint owners of a mobile operator in France that have each been vying to take full control of the company for months, said they will simplify the group's ownership structure and increase their cooperation i Vivendi Universal and...
From the executive summary: ‘The paper examines the impact of the degree of merger-related change in corporate focus on the long-run return to investors in mergers and acquisitions. Using a sample of 204 completed acquisitions, selected to be free of post-merger contaminating events, and a continuous measure of merger-related change...
This paper presents a theory of dynamic economic growth, business cycles, and asset pricing that integrates Marx's idea of a two-class heterogeneity of the ownership structure of physical capital and human capital in a capitalist society, It also presents Keynes' idea of sticky wages and examines the existence of a...
CHICAGO -- Prime Group Realty Trust (NYSE:PGEPRB) (the "Company") announced that i on January 10, 2006, the Company's operating partnership, Prime Group Realty, L.P. (the "Operating Partnership"), Roland E. Casati ("Casati"), Richard H. Heise ("Heise") and certain other parties entered into an Amended and Restated Tax Indemnity Agreement (the "Amended...
OLDWICK, N.J.--BUSINESS WIRE--Aug. 10, 1998--Metropolitan Life Insurance Co. has retained Goldman Sachs to "sort through its options" pertaining to the future structure of the company, according to an article in today's Life/Health edition of BestWeek.
Some people think that Martha Stewart is a real class act. Looking over last week's initial public offering of her company, I would agree that Martha knows something about class. In supposedly selling her company to the public, wily Martha has create Some people think that...
City winds up big winner in Gateway negotiations In a unexpected turnabout, the city of Cleveland has emerged as the big winner in hurried, behind-the-scenes legal negotiations over who will eventually own the Gateway stadium-arena complex and who wiCity winds up big winner in Gateway...
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