Add to ORKGWe study 121 voluntary dual class share unification in Europe during 1996-2009, and uncover a mixed tale of governance improvements and shareholder expropriation. Corporate governance improvement is attained by abolishing the wedge between ownership and voting rights and by significantly decreasing controlling shareholders' voting power. Shareholder expropriation occurs when some controlling shareholders exploit the unification hype to sell part or all of their holdings at inflated prices. On average, the corporate governance positive valuation effects prevail, and voluntary unifications are accompanied by a statistically and economically significant increase of Q
In the UK, between 1955 and 1970, dual class shares quickly lost popularity without any regulatory i...
This paper contributes to the research on corporate governance by predicting the effects of European...
The purpose of this study was to discover if and how the EU and US have approached dual-class shares...
An increasing number of firms with dual class shares are deciding to unify their shares around the w...
Extant literature has usually argued that firms that unify dual class shares are likely to increase ...
An increasing number of firms with dual class shares are deciding to unify their sharesaround the wo...
An increasing number of firms with dual class shares are deciding to unify their shares around the w...
An increasing number of firms with dual class shares are deciding to unify their shares around the w...
This paper studies the reasons and the costs of separating ownership from control by analyzing the d...
We follow the evolution of ownership structure in a sample of 80 Israeli companies that unified thei...
Called to vote for a reduction in their dividend privileges, Pirelli’s nonvoting shareholders appear...
We study transactions of voting rights. In our sample of 67 dual class unifications superior vote sh...
Dual-class share unifications have typically been argued to be beneficial for voting shareholders, w...
The present project wants to empirically investigate all the Italian dual class unifications made be...
In the UK, between 1955 and 1970, dual class shares quickly lost popularity without any regulatory i...
This paper contributes to the research on corporate governance by predicting the effects of European...
The purpose of this study was to discover if and how the EU and US have approached dual-class shares...
An increasing number of firms with dual class shares are deciding to unify their shares around the w...
Extant literature has usually argued that firms that unify dual class shares are likely to increase ...
An increasing number of firms with dual class shares are deciding to unify their sharesaround the wo...
An increasing number of firms with dual class shares are deciding to unify their shares around the w...
An increasing number of firms with dual class shares are deciding to unify their shares around the w...
This paper studies the reasons and the costs of separating ownership from control by analyzing the d...
We follow the evolution of ownership structure in a sample of 80 Israeli companies that unified thei...
Called to vote for a reduction in their dividend privileges, Pirelli’s nonvoting shareholders appear...
We study transactions of voting rights. In our sample of 67 dual class unifications superior vote sh...
Dual-class share unifications have typically been argued to be beneficial for voting shareholders, w...
The present project wants to empirically investigate all the Italian dual class unifications made be...
In the UK, between 1955 and 1970, dual class shares quickly lost popularity without any regulatory i...
This paper contributes to the research on corporate governance by predicting the effects of European...
The purpose of this study was to discover if and how the EU and US have approached dual-class shares...