Specically, this research investigates the stock performance of companies that have dual-class shares. Overall, results show that investors in inferior-voting shares do not earn abnormally low risk-adjusted returns. Investors in non-IPO inferior-voting shares earn positive abnormal risk-adjusted ...
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...
dual class 美 英 un.双重船级 网络不能改职;双轨;牛卡计划 英汉 网络释义 un. 1. 双重船级 释义: 全部,双重船级,不能改职,双轨,牛卡计划
Why do companies issue convertible securities? What is the best method to finance a business between Preferred stock, Common stock and finally Bonds and why is that? Between the three identify advantages and disadvantages for each one. What is the difference between a pr...
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...
This paper investigates the relationship of dividend policy and ownership structure of Russian dual-class stock companies. The results allow to conclude on the link of a wide range of factors of ownership structure and concentration in Russian companies with their dividend policy, as well as to tra...
To answer this question, we use a hand-collected data set of companies traded on the London stock market between 1825 and 1870... JD Turner,Q Ye,W Zhan - 《Review of Finance》 被引量: 18发表: 2013年 OWNERSHIP STRUCTURE AND MANAGERIAL INCENTIVES: THE EVIDENCE FROM ACQUISITIONS BY DUAL CL...
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...
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 ...