Loyalty sharesone-share-one- votetenure votingtime-phased votingFrench listed companies can issue shares that confer two votes per share after a holding period of at least two years (loyalty shares with tenure voting rights)Becht, MarcoKamisarenka, Yuliya...
We examine the capital market consequences of a regulatory intervention aimed at generalizing tenure voting in French public companies. The 2014 Florange Act dedoi:10.2139/ssrn.3324237Bourveau, ThomasBrochet, FrancoisGarel, AlexandreSocial Science Electronic Publishing...
tenure votingtime-phased votingdual-class sharesone-share-one-voteThe contractual theory of the firm predicts that companies adopt charters that maximise firm value, regardless of the default rule. We test this proposition aroBecht, MarcoKamisarenka, Yuliya...
time-phased votingdual-class sharesone-share-one-voteFrench listed companies can issue shares that confer two votes per share after a holding period of at least two years (loyalty shares with tenure voting rights). In 2014 the default rule changed from one-share-one-vote to loyalty shares. ...