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Corporate Ownership (corporate + ownership)
Selected AbstractsCorporate Ownership and Control in the UK: The Tax DimensionTHE MODERN LAW REVIEW, Issue 5 2007Brian R. Cheffins While generally the impact tax has on patterns of corporate ownership and control has received little attention in the relevant academic literature, this paper argues that tax is potentially an important determinant of ownership patterns in large companies. The paper focuses on historical developments in Britain, where an ,outsider/arm's-length' system of corporate governance took shape during the twentieth century and became fully entrenched by the end of the 1970s. Taxes imposed on corporate profits, taxation of managerial and investment income and inheritance taxes help to explain why during this period blockholders sought to exit and why there was sufficient demand for shares among investors to permit ownership to separate from control. [source] Corporate ownership and control: British business transformed , By Brian R. CheffinsECONOMIC HISTORY REVIEW, Issue 4 2009RON WEIR No abstract is available for this article. [source] Revisiting the corroboration effects of earnings and dividend announcementsACCOUNTING & FINANCE, Issue 2 2006Louis T. W. Cheng D82; G14; M41 Abstract Using a unique market setting in Hong Kong, where (i) all firms release earnings and dividend information in the same announcement; (ii) corporate transparency is low; (iii) dividend income is non-taxable and (iv) corporate ownership is highly concentrated, we re-examine the corroboration effects of earnings and dividends. We use the control firm approach to avoid the return estimation bias resulting from observation clustering. We also add in variables and use econometric procedure to control for the potential impacts of earnings management, special dividends and heteroskedasticity. Our findings show that there exists a corroboration effect between the jointly announced signals. [source] Wealth Effects of International Investments and Agency Problems for Korean Multinational FirmsJOURNAL OF INTERNATIONAL FINANCIAL MANAGEMENT & ACCOUNTING, Issue 3 2003Wi Saeng Kim This paper recognizes the recent surge in cross-border investments by MNCs from newly industrialized countries and investigates the wealth effects of FDI announcements by Korean firms, which are the leading FDI providers in Asia. The empirical results indicate that for Korean MNCs: 1) cross-border investments increase shareholder wealth; and 2) they do not obtain the firm-specific technological advantages over international competitors. The paper also presents evidence that cross-border investments do not increase shareholder wealth for the 30 largest chaebol -affiliates, and that shareholder wealth losses are greater when corporate ownership is concentrated, as suggested by Shleifer and Vishny (1997) and La Porta et al. (1998, 2000). [source] Corporate Ownership and Control in the UK: The Tax DimensionTHE MODERN LAW REVIEW, Issue 5 2007Brian R. Cheffins While generally the impact tax has on patterns of corporate ownership and control has received little attention in the relevant academic literature, this paper argues that tax is potentially an important determinant of ownership patterns in large companies. The paper focuses on historical developments in Britain, where an ,outsider/arm's-length' system of corporate governance took shape during the twentieth century and became fully entrenched by the end of the 1970s. Taxes imposed on corporate profits, taxation of managerial and investment income and inheritance taxes help to explain why during this period blockholders sought to exit and why there was sufficient demand for shares among investors to permit ownership to separate from control. [source] | ||||||||||