Exact(12)
Vince Cable may offer more pay transparency and stronger shareholder power.
Third, we explore settings that are likely to be associated with stronger shareholder response to reduced lender monitoring.
We find that firms in countries with stronger shareholder rights issue convertible debt with a higher expected probability of converting to equity.
Furthermore, we find that large non-management block ownership strengthens the likelihood of issuing convertible debt with higher probability of conversion in countries with stronger shareholder rights.
Specifically, in countries with stronger shareholder rights, firms with higher separation of control rights and cash flow rights tend to issue convertibles with lower probability of conversion.
"The prime minister has said she wants to see stronger shareholder oversight of executive pay and greater transparency including better reporting of bonus targets and pay ratios.
Similar(48)
Other listed banks are controlled by strong shareholder pacts, foundations or families.
DAVIS: A very strong shareholder agreement, number one, that says that family disagreements don't go to court.
WPP, one of the largest advertising companies, is expected to face strong shareholder opposition for its pay packages at the annual shareholder meeting on Wednesday.
John Core and his colleagues have shown that companies with strong shareholder rights have higher operating profits than those with weak rights.
But America's strong shareholder culture and fondness for litigation make it harder than it would be in Europe for managers to employ these devices.
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