Thus, a dualclass share structure could result in superior performance. This study addresses the question that confronts investors with respect to dual-class rms: Are inferior-voting shares inferior investments? Specically, this research investigates the stock performance of companies that have dual-...
dual-class companies, we examine how divergence between insider voting and cash flow rights affects managerial extraction of private benefits of control. We find that as this divergence widens, corporate cash holdings are worth less to outside shareholders, CEOs receive higher compensation, managers ...
Regulation of dual class share structures in listed companies : a comparison of Hong Kong and the United States The efficiency of dual class share structures has been the subject of great controversy for a long time. In April 2018, Hong Kong decided to lift its ban o... J Shen,沈骏峥 被...
This dissertation employs a setting in which certain Chinese companies have two classes of shares---A and B shares---that should entitle their holders to identical cash flow and voting rights but are available to different and disjoint sets of investors: trading in A shares is restricted to ...
While many investors would like to eliminate dual-class shares, there are several hundred companies in the United States with dualClass A sharesandClass B shares, or even multiple class listed shares. So, the question is, what's the impact ofdual-class ownershipon a company's fundamentals and...
Although institutions of all types hold fewer shares of dual-class firms, this avoidance is more pronounced for long-term investors with strong fiduciary responsibilities than for short-term investors with weak fiduciary duties. Following the unification of dual-class shares into a single class, ...
Analysis of dividend policy of dual and single class U.S corporations policy, little is known about the relationship between controlling shareholders and the determination of dividend policy, especially in dual class companies. Th... B Amoako-Adu,V Baulkaran,BF Smith - 《Journal of Economics & ...
Dual-class firm Any organization can issue sets of shares having different rights. When the rights or classes of the issued shares vary, the...Become a member and unlock all Study Answers Start today. Try it now Create an account Ask a question Our experts can ...
Public companies with dual-class stock structures are set up in a way that often gives chief executives outsized influence over the direction of the firm. That can be advantageous when trying to quickly execute a new strategy, restructure or shift priorities – but it can also dilute the influ...
According to a government backgrounder, the trust chair acts “as the representative of the controlling shareholder” in dealing with RCI to provide leadership on company strategy and direction, and votes “the Class A Voting Shares held by the private Rogers family holding companies in accordance ...