Journal ArticleDOI
The separation of ownership and control in east asian corporations
TLDR
The authors examined the separation of ownership and control for 2,980 corporations in nine East Asian countries and found that voting rights frequently exceed cash-ow rights via pyramid structures and cross-holdings.About:
This article is published in Journal of Financial Economics.The article was published on 2000-01-01. It has received 4195 citations till now.read more
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Integrated reporting: perspectives of corporate report preparers and other stakeholders
Desi Adhariani,Charl de Villiers +1 more
TL;DR: In this paper, the authors explore the perspectives of corporate report preparers and other stakeholders on integrated reporting (IR) in a major Southeast Asian economy, and a survey is used to explore perspectives on IR.,There is a limited level of knowledge regarding IR, but a high level of interest.
Journal ArticleDOI
Controlling firms through the majority voting rule
Ariane Chapelle,Ariane Szafarz +1 more
TL;DR: In this paper, the authors proposed a model for measuring integrated ownership and threshold-based control, applicable to any group of interrelated firms, in line with the theory on pyramidal control.
Journal ArticleDOI
Idiosyncratic volatility and cross-sectional stock returns in Southeast Asian stock markets
TL;DR: In this article, the authors examined the role of idiosyncratic risk in five ASEAN markets of Malaysia, Singapore, Thailand, Indonesia, and the Philippines and found no evidence of an idiosyncratic volatility puzzle in these Asian stock markets.
Posted Content
The Political Economy of Financial Systems
Stephen Haber,Enrico C. Perotti +1 more
TL;DR: A survey of the literature on the political economy of financial structure, broadly defined to include the size of capital markets and banking systems as well as the distribution of access to external finance across firms is presented in this article.
Journal ArticleDOI
The quality and determinants of voluntary disclosures in annual reports of Shari'ah compliant companies in Malaysia
TL;DR: In this paper, a self-constructed disclosure checklist was developed to measure the quality of corporate voluntary disclosures (CVDs) and the authors examined the annual reports of 76 ShCCs selected from various sectors listed on Bursa Malaysia in the year 2009.
References
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Journal ArticleDOI
Theory of the firm: Managerial behavior, agency costs and ownership structure
TL;DR: In this article, the authors draw on recent progress in the theory of property rights, agency, and finance to develop a theory of ownership structure for the firm, which casts new light on and has implications for a variety of issues in the professional and popular literature.
Posted Content
Law and Finance
Rafael La Porta,Rafael La Porta,Florencio Lopez de Silanes,Florencio Lopez de Silanes,Andrei Shleifer,Andrei Shleifer,Robert W. Vishny,Robert W. Vishny +7 more
TL;DR: This paper examined legal rules covering protection of corporate shareholders and creditors, the origin of these rules, and the quality of their enforcement in 49 countries and found that common law countries generally have the best, and French civil law countries the worst, legal protections of investors.
Book
The Modern Corporation and Private Property
TL;DR: Weidenbaum and Jensen as mentioned in this paper reviewed the impact of developments not fully anticipated by Berle and Means, such as the rise of the service sector, and the significant role played by institutional investors in the owner/manager equation.
Journal ArticleDOI
The Costs and Benefits of Ownership: A Theory of Vertical and Lateral Integration
Sanford J. Grossman,Oliver Hart +1 more
TL;DR: In this paper, a theory of costly contracts is presented, which emphasizes the contractual rights can by of two types: specific rights and residual rights, and when it is costly to list all specific rights over assets, it may be optimal to let one party purchase all residual rights.
Journal ArticleDOI
Corporate Ownership Around the World
TL;DR: In this paper, the authors use data on ownership structures of large corporations in 27 wealthy economies to identify the ultimate controlling shareholders of these firms, and they find that, except in economies with very good shareholder protection, relatively few firms are widely held, in contrast to Berle and Means's image of ownership of the modern corporation.