Search results for " Shareholder"

Responsabilità degli organi di amministrazione e controllo di società a partecipazione pubblica (anche in house) e riparto di giurisdizione

2019

Le disposizioni in tema di responsabilità degli organi di amministrazione e controllo di società a partecipazione pubblica e di giurisdizione applicabile, contenute nell’art. 12, d.lgs. 19 agosto 2016, n. 175, T.U. in materia di società a partecipazione pubblica, e l’espressa previsione all’art. 14 del citato T.U. della fallibilità di tali società hanno dato luogo al moltiplicarsi di azioni civili di responsabilità proposte dalla curatela del fallimento di società a partecipazione pubblica. Nel seno di simili azioni, esperite anche ex art. 2497 c.c. nei confronti dell’ente pubblico socio, la Cassazione si è da ultimo orientata, con le ordinanze a sez. un. del 13 settembre 2018, n. 22406, e …

Co-determination and Merger Incentives from Transfers of Wealth: Firm Owners vs. Workers

2010

When workers can capture rents from their influence on corporate decisions, mergers can become a device to generate transfers of wealth. This paper examines the merger incentives from these transfers of wealth. It is found that worker influence increases merger profitability, in line with the owners’ incentive to use mergers to reduce the rents captured by workers. In contrast, the workers’ merger incentives are shown to be decreasing in their own degree of influence on the merger decision, in line with the view according to which workers can be used by incumbent managers as a defensive instrument in acquisitions.

Creating Value – From Corporate Governance to Total Shareholders Return. An Overview

2016

Abstract The term “value” can be interpreted in a subjective way, depending about what we refer at. Usually the firm's value is related to the financial performance: profitability, cash flow, liquidity, solvability, etc. A corporation can create and in some cases reduce value for its stakeholders. Also, a corporation can create value for the stakeholders by simply creating jobs, paying taxes and help the population to improve their financial situation. The aim of the paper is to describe the process of value creation starting with corporate governance, continuing with stakeholders’ expectations and finishing with shareholders requests.

The protection of minority shareholders during delisting in Germany and in the U.K.

2020

The thesis seeks to compare the protection of minority shareholders during delisting in Germany and in the UK. Delisting refers to a publicly traded company leaving the stock market. In order to compare the protection afforded by the relevant legislator the thesis first seeks to give an overview of the interests touched upon by delisting, finding the main risk for minority shareholders is unlike often assumed not a loss of value but the loss of the share’s tradability. The thesis then compares the approach taken towards the problem and the instruments utilized by both legislators. Here the thesis finds that the German law represents a stricter and inflexible solution, while the British law …

RISK AVERSION IN THE BOARD ROOM. AN ANALYTICAL APPROACH ON CORPORATE GOVERNANCE OF GERMAN STOCK-LISTED COMPANIES

2016

According to the agency theory, a positive relationship between company performance and good corporate governance should exist. A broader study of the author of this paper examines a sample of German stock-listed companies whereas Germany can be seen as one of the most highly regulated countries concerning corporate governance. The overall purpose of the author’s study is to analyze the effect of supervisory board characteristics and procedures on firm performance. Several corporate governance variables such as number of committees, board independency, supervisory board compensation, personal risk liability, etc. are examined regarding their effects on firm performance in terms of firm grow…

Elektroniczne walne zgromadzenie akcjonariuszy w świetle Art. 406 Kodeksu spółek handlowych : obecna formuła i perspektywy rozwoju

2017

The influence of international ownership on the performance of microfinance institutions

2016

Master thesis Business Administration - University of Agder 2016 The microfinance industry is experiencing rapid growth and financing this growth is a legitimate concern. During the past decade, international commercial funding in the form of international equity and debt has played a remarkable role in this regard. Until now, microfinance research that focus on the performance implications of international funding of MFIs is inadequate even though microfinance literature is voluminous. Our study focuses on the presence of international shareholders in microfinance institutions. Using data from 148 Microfinance Institutions (MFIs) in 51 countries, we empirically determine MFI characteristic…

The Capital’s Election Criteria Used in the Financial Management of a Company’s Financing Decision

2009

The optimization of the capital structures of a company after the cost criteria represents a profitable activity, provided that it is well conceived, organized and carried out. For this consideration, the capital’s structure and their medium cost is an important profit source for the company, so the profit comes from this source, and not from the exploitation activity or other financial sources or traditional exceptive. In conclusion, the cost of the capital has to be previewed; the company has to build an adequate strategy and tactical procedures to accomplish this challenge. Besides the capital’s cost, in this paper we present some other criteria that can interfere in the choice of the fi…

Understanding family shareholders in family firms : an exploration of the role of family dynamics in the development of family shareholders' behaviou…

2013

The effect of reshoring announcement on company share price

2022

The reshoring trend has gained momentum among manufacturing companies, which increasingly decide to relocate their production activities back to their home country. In this article, we explore the relationship between the motivations guiding the decision to reshore and the companies’ shareholder value. Particularly, taking an eclectic paradigm perspective, we aim to understand whether the motivations driving the companies’ decisions to reshore explain changes in the shareholder value. Empirically, we built an ad-hoc database based on 370 reshoring decisions involving the USA as a reshoring destination and announced in the 10-year time window ranging from 2009 to 2018. Our results highlight…