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Shareholder Protection Reconsidered
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Book Synopsis Shareholder Protection Reconsidered by : Georgios Zouridakis
Download or read book Shareholder Protection Reconsidered written by Georgios Zouridakis and published by Routledge. This book was released on 2019-11-26 with total page 204 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines the role and potential of derivative actions in shareholder protection in public limited companies. Derivative actions have been a focal point of legislators’ agendas on shareholder protection, in the past few decades, throughout Europe and beyond. Nevertheless, there remain jurisdictions, such as Greece, which are still devoid of this remedy. Against this backdrop, this book examines whether and how the derivative action may improve shareholder protection, constituting thus a mechanism that justifies legislative attention. It does so in three parts. First, it analyses the desirable role derivative actions assume in protecting shareholder property, monitoring corporate management and mitigating agency costs, alongside their economic implications, introducing the reader to the contemporary international debate on the topic. Having set the desiderata, the second part proceeds with the comparative analysis of Greek, German and UK law – jurisdictions that have recently reformed their provisions on shareholder protection – examining not only the law on derivative actions and their Greek counterpart remedy but also mechanisms of shareholder protection that do, or could, assume functions similar to those of the derivative action. By critically assessing the merits and failures of the respective UK, German and Greek shareholder protection laws, the book then proceeds to offer (in Part III) a model framework of shareholders’ derivative litigation for jurisdictions considering reform. Written in an accessible format, it will be an invaluable resource for anyone interested in this important aspect of company law and corporate governance.
Book Synopsis Shareholder Protection Across Time by : Brian R. Cheffins
Download or read book Shareholder Protection Across Time written by Brian R. Cheffins and published by . This book was released on 2015 with total page 82 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Article offers the first systematic attempt to measure the development of shareholder protection in the United States across time. Using three indices developed to measure the relative strength of shareholder protection across nations, we evaluate numerically the protections corporate and securities law have offered shareholders from the beginning of the twentieth century to the present day. We do so by tracking the rights accorded to shareholders across time under three important sources of corporate law, Delaware and Illinois and the Model Business Corporation Act.Our novel study yields novel results. First, we find that the protections afforded to shareholders by state corporation law have decreased since 1900 but only modestly so. This implies that, contrary to the assumptions of many scholars, state competition in corporate law has not significantly eroded shareholder rights. Second, when we add in measures that count protections provided by federal as well as state law, we find that shareholder protection improved across time. This implies that federal intervention has played a crucial and perhaps underappreciated role in shaping U.S. corporate law. Beyond its specific findings, this study illustrates how empirical analysis of legal trends provides scholars with a new means for analyzing and resolving fundamental questions in corporate law.
Book Synopsis Minority Shareholder Protection and Company Buy Back by : College of Law, Guildford (GB)
Download or read book Minority Shareholder Protection and Company Buy Back written by College of Law, Guildford (GB) and published by . This book was released on 1990 with total page 87 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Shareholder Protection in Close Corporations by : Alan K Koh
Download or read book Shareholder Protection in Close Corporations written by Alan K Koh and published by Cambridge University Press. This book was released on 2022-09-29 with total page 427 pages. Available in PDF, EPUB and Kindle. Book excerpt: Comparative study of withdrawal remedies in four jurisdictions to offer solutions to shareholder conflicts in small and medium enterprises.
Book Synopsis On the Fallacy of Llsv Revisited - Further Evidence About Shareholder Protection in Austria and the United Kingdom by : Robert Schmidbauer
Download or read book On the Fallacy of Llsv Revisited - Further Evidence About Shareholder Protection in Austria and the United Kingdom written by Robert Schmidbauer and published by . This book was released on 2007 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: La Porta, Lopez-de-Silanes, Shleifer and Vishny's Law and Finance, in particular its shareholder protection measures, have been heavily criticised from nearly every different standpoint, for example methodology, the choice of variables, the simplicity of the judgment or the disregard of board structures. Braendle was the first to move the critique forward by combining the wide range of objections to the index, whereas previous critiques had focused on separate objections only. Broadening the scope to encompass the range of objections he reconsidered the level of shareholder protection for Germany and the United States. The result was astonishing, after LLSVs score was reassessed and adjusted for differences between Civil and Common law in more detail. While the original score for Germany and the US was 0:5 and therefore suggested a very high level of shareholder protection in the latter, the reassessed score amounted to 4:4. This reconsideration as opposed to a single-tracked criticism challenged LLSVs thesis - which is seen as being so important throughout the legal, economic and political world - on a more profound level. This work accepts Braendle's invitation, introduces Law and Finance, summarizes and classifies the different objections made so far and finally reconsiders LLSVs shareholder protection measures for two further countries: Austria and the United Kingdom. The outcome is very similar to Braendle's work. The paper ends with three main conclusions: First and most important: LLSVs shareholder protection index is incorrect. The second conclusion drawn is that the differences between Common and Civil Law countries in shareholder protection are not as severe as suggested by Law and Finance. And third, research based on LLSVs shareholder protection index has to be reconsidered, because it rests upon inappropriate pre-requisites.
Book Synopsis Taking Shareholder Protection Seriously? by : Theodor Baums
Download or read book Taking Shareholder Protection Seriously? written by Theodor Baums and published by . This book was released on 2003 with total page 102 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Shareholder Protection, Stock Market Development and Politics by : Marco Pagano
Download or read book Shareholder Protection, Stock Market Development and Politics written by Marco Pagano and published by . This book was released on 2005 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Shareholder Protection Upon the Issuance of Further Shares by : Maria Elizabeth Van Biljon
Download or read book Shareholder Protection Upon the Issuance of Further Shares written by Maria Elizabeth Van Biljon and published by . This book was released on 2016 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Shareholder Protection in Structural Takeover Defenses by : Gaudenz G. Zindel
Download or read book Shareholder Protection in Structural Takeover Defenses written by Gaudenz G. Zindel and published by . This book was released on 1988 with total page 354 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Protection Versus Control by : Sofie Cools
Download or read book Protection Versus Control written by Sofie Cools and published by . This book was released on 2004 with total page 170 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Shareholder Protection Around the World ('leximetric II') by : Mathias Siems
Download or read book Shareholder Protection Around the World ('leximetric II') written by Mathias Siems and published by . This book was released on 2007 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Shareholder Protection in the USA and Germany - on the Fallacy of Llsv by : Udo C. Braendle
Download or read book Shareholder Protection in the USA and Germany - on the Fallacy of Llsv written by Udo C. Braendle and published by . This book was released on 2005 with total page 17 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this article we introduce the law matters thesis of LaPorta et al. and highlight its importance in economic as well as legal literature. The results of their Law and Finance article highlight the much better shareholder protection of Common Law compared to Civil Law countries. We reconsider their antidirector rights index for Germany and the United States, two typical representatives of their respective legal family. By having a close look at the legal provisions of the two countries we illustrate the weaknesses and pitfalls of the index. We find that Germany would score much better if one bothers analyzing the Law. Moreover, we point out inconsistencies in the judgment of the USA. Therefore we conclude that the difference between Common and Civil Law in terms of shareholder protection is far less significant than LaPorta et al. propose, if at all. The blindfold citation of this article can implicate wrong political-economic measures and should therefore be avoided.
Book Synopsis Shareholder Protection in Share Issuances by : Tom Vos
Download or read book Shareholder Protection in Share Issuances written by Tom Vos and published by . This book was released on 2021 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Law, Finance and Innovation by : Filippo Belloc
Download or read book Law, Finance and Innovation written by Filippo Belloc and published by . This book was released on 2015 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: Proponents of minority shareholder protection state that national legal institutions protecting small investors boost stock markets and, in turn, long-term countries' performance. In this paper, we empirically challenge this argument. We perform three-stage least-square estimation on a sample of 48 countries over 1993-2006 and find that countries with stronger shareholder protection tend to have larger market capitalization but also lower innovation activity. We cope with stock market's endogeneity and industry heterogeneity, and circumvent omitted variables bias, so that this finding is unlikely to be driven by misspecification problems. We interpret our estimation results arguing that stronger shareholder protection may depress, rather than encourage, the most valuable corporate productions, because it enables small and diversified shareholders to play opportunistic actions against undiversified stockholders, after specific investments are undertaken by the company; innovation activity, largely based on specific investing, is particularly exposed to this problem.
Book Synopsis Shareholder Protection by : Priya P. Lele
Download or read book Shareholder Protection written by Priya P. Lele and published by . This book was released on 2006 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Minority Shareholder Protection in Takeovers by :
Download or read book Minority Shareholder Protection in Takeovers written by and published by . This book was released on 2004 with total page 760 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Minority Shareholder Protection and Company Buy Backs by : College of Law (London, England)
Download or read book Minority Shareholder Protection and Company Buy Backs written by College of Law (London, England) and published by . This book was released on 1990 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt:
