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Layer 1. Dual class structures have the governance effects of a controlling shareholder (CS) structure.
Though much has been written about this topic, no comprehensive picture of dual class structures' governance effects has emerged.
Layer 2. Dual class structures also have the governance effects of structures that create voting control without a corresponding right to receive greater financial benefits.
Layer 3. Finally, dual class structures have governance effects that differ from other control-enhancing mechanisms (CEMs) that also create voting control without correspondingly greater cash flow rights.
Again, if there is a positive correlation between FN firms and weak internal governance, then our endowment-effect results might be attributable to internal governance effects.
It is based on his recent article, "Impact Investing as a Form of Lobbying and Its Corporate Governance Effects," available here.
Similar(51)
It shifts, persistently, between the macro and the micro, showing how broad concepts of law and governance effect individual lives in the most intimate ways.
In some studies (N = 9), the governance effect was direct and positive, while in others (N = 5), the effect was indirect or modified by contextual factors.
This paper explores whether and how forms of entrepreneurial governance effecting deprived regions of the UK have embraced urban design as a necessary and distinctive feature of regeneration efforts.
At de facto controlled companies, this can fuel the debate into corporate-governance effects of shareholder activism.
Senior White House officials said Obama believes that negotiating over the government shutdown or debt ceiling would have a harmful, long-term effect on governance, effectively allowing one group to hold the government hostage.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com