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
Citations
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Corporate social responsibility strategies, dynamic capability and organizational performance: Cases of top Taiwan-selected benchmark enterprises
TL;DR: Wang et al. as mentioned in this paper discussed the types of CSR strategies from both value perspective and strategic orientation, and incorporated dynamic capabilities perspective to explain the effects of corporate social responsibility (CSR) strategies on organizational performance.
Journal ArticleDOI
Insider Control and the FDI Location Decision
TL;DR: In this article, the authors examined the FDI location strategies of firms from one of the Asian NIEs (Taiwan) in a rapidly emerging market (China) and found that the extent of their resource commitments in their foreign affiliates leads parent companies to favour locations where the perceived risks are lower.
Journal ArticleDOI
Evolution of the Debate on Control Enhancing Mechanisms: A Systematic Review and Bibliometric Analysis
TL;DR: In this paper, the authors assess the state of the art, the structure and the evolution of the debate on control enhancing mechanisms (hereafter CEMs), and combine bibliometric and qualitative methodologies to analyze 210 articles published in scientific journals up to 2014.
Journal ArticleDOI
Corporate governance in shipping: an overview
TL;DR: In this paper, the authors assess the role of corporate governance as a determinant of the operational and financial performance of maritime business, raising questions for further investigation, and review the literature on corporate governance practices, focusing on maritime firms trying to analyze the effects of Corporate governance in their financial performance.
Journal ArticleDOI
Earnings management and cultural values
TL;DR: In this paper, the effect of individualism and egalitarianism on earnings management is studied. But the authors focus on the individualistic measures and do not consider the cultural differences between countries and find that countries scoring high on individualism tend to have lower levels of earnings management.
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.