Remote general meeting of shareholders: are the shareholders‘ rights respected?

Shareholders’ Pre-Emptive Rights

Are Unmanaged Earnings Always Better for Shareholders?

SYNOPSIS: The push for increased transparency in financial reporting and corporate governance serves the shareholders only up to a limit. The problem of assessing the value of transparency to the shareholders is subtle because both the level and pattern of earnings can convey information. Even when earnings management conceals information, it can be beneficial to shareholders. Distinguishing be...

Large Shareholders and Corporate Control

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Shareholders vs Stakeholders Capitalism

Advising Shareholders In Takeovers

This paper studies the advisory role of a target company board in takeovers. I show that coordination failures among target shareholders, such as free-riding, limit the board’s ability to properly advise shareholders whether accepting a takeover o¤er is in their best interest based on its information. Even if there are no agency problems and the board’s objective is to maximize shareholders’val...