Sökning: "Minority Expropriation"

Visar resultat 6 - 9 av 9 uppsatser innehållade orden Minority Expropriation.

1. 6. Expropriation of Minority Shareholders: A Study on Swedish Market between 1985 and 2007

   D-uppsats, Handelshögskolan i Stockholm/Institutionen för redovisning och finansiering; Handelshögskolan i Stockholm/Institutionen för finansiell ekonomi

   Författare :John-Peter Vinnars; Marko Zivkovic; [2009]
   Nyckelord :minority expropriation; separation; ownership concentration; M A expropriation; ownership characteristics;

   Sammanfattning : Based on a sample of company observations on the Stockholm Stock Exchange in the period 1985-2007, we find evidence that the tendency of largest shareholders to expropriate other shareholders rise with their control rights and the difference between their control rights and cash flow rights. Looking at different types of largest shareholders, for largest shareholders classified as financial institutions, spheres, individuals and private equity firms the tendency to expropriate other shareholders rises with ownership of control rights, while for financial institutions it also rises with the separation of control rights and cash flow rights. LÄS MER

3. 7. Ownership Structure and Acquiring Firm Performance: – An Empirical Analysis of Minority Expropriation

   D-uppsats, Handelshögskolan i Stockholm/Institutionen för finansiell ekonomi

   Författare :Caroline Johansson; Emma Nyberg; [2008]
   Nyckelord :M A; Minority Expropriation; Ownership Structure;

   Sammanfattning : This study examines the relationship between ownership structure and acquiring firm performance in order to determine whether mergers and acquisitions are used as means of minority expropriation. We find, using a sample of M&A transactions undertaken between 2000 and 2007, that Swedish M&A create value for acquiring firm shareholders, measured as CAR. LÄS MER

4. 8. Ownership Concentration in Sweden: Minority Expropriation or Alignment of Interest?

   D-uppsats, Handelshögskolan i Stockholm/Institutionen för finansiell ekonomi

   Författare :Eliane Tsujimoto; Ella Stapelfeldt; [2008]
   Nyckelord :Ownership concentration; Minority expropriation; Alignment of interest; Family firms;

   Sammanfattning : This paper analyzes two important aspects of concentrated ownership structures; control enhancing mechanisms and the determinants of family control. In this way, we contrast two perspectives on concentrated ownership structures; first, that firm value is destroyed due to the expropriation of private benefits of control and second, that the presence of a controlling shareholder can positively affect firm value by aligning the interest of shareholders and management. LÄS MER

5. 9. Corporate Control and Value Destruction

   D-uppsats, Handelshögskolan i Stockholm/Institutionen för finansiell ekonomi

   Författare :Lars Schöldström; Karl-Johan Wattsgård; [2006]
   Nyckelord :agency costs; marginal q; Sweden; corporate control;

   Sammanfattning : Investigating a panel of Swedish public companies from 1986 to 2003 (4543 firm year observations) this paper investigates the effect of control structure and type of controlling owner on investment efficiency. Sweden is characterized by a high prevalence of voting and cash flow rights separation, as well as controlled ownership structures where families are the most recurrent ultimate owners in control. LÄS MER