As complex networks in economics, we consider Japanese shareholding networks as they existed in 1985, 1990, 1995, 2000, 2002, and 2003. In this study, we use as data lists of shareholders for companies listed on the stock market or on the over-the-counter market. The lengths of the shareholder lists vary with the companies, and we use lists for the top 20 shareholders. We represent these shareh...

With the rapid development of Information and Communication Technology companies face several problems today. The increasing speed of product development leads to the problem that products and services need to be communicated and explained to potential customers. Shareholders and investors should gain a certain insight into the company’s activities also the public domain and journalists demand ...

In this study, it is examined whether changes in the stock market index can be explained by the change in financial ratios. Financial statements of 11 conventional and 2 participation banks for a total of 13 banks (representing the essential part of the Turkish Banking Sector and constituting the BIST XBANK Stock Index) announced on a quarterly basis from 2002 to 2013 were extracted from the Pu...

The Japanese shareholding network existing at the end of March 2002 is studied empirically. The network is constructed from 2,303 listed companies and 53 non-listed financial institutions. We consider this network as a directed graph by drawing edges from shareholders to stock corporations. The lengths of the shareholder lists vary with the companies, and the most comprehensive lists contain th...

We hypothesize that family firms’ dividend policies are in part determined by a consumption smoothing motive of shareholders. Our paper tests this hypothesis using Japanese tax reform 2011 which increased the rate for only some groups major In quasi-experimental setting, we find firms with non-executive shareholders, who were likely rentiers, counteracted increase increasing dividends. This beh...

In the acquisition of listed corporation, the controlling shareholders who either hold a certain number of shares, or play a decisive role in the transfer of corporation control. Compared with the minority shareholders, controlling shareholders often abuse its dominant position to harm other stakeholders' interests of the corporation. Imposing the fiduciary duties to the controlling shareholder...

Recent studies in Finance suggest dividends’ role as monitoring mechanism, which allows minority shareholders to control the managers or larger shareholders’ decisions. This paper tests this hypothesis on listed companies at Bucharest Stock Exchange, in 2000-2003 period, from the legislation perspective, but, also, using dividend ratios. Even the regulations and the enforcement of the law seem ...

This paper addresses the agency problem between controlling shareholders and minority shareholders. This problem is common among public firms in many countries where the legal system does not effectively protect minority shareholders against oppression by controlling shareholders. We show that even without any explicit corporate governance mechanisms protecting minority shareholders, controllin...