...Manuchehr Shahrokhi; Ali M. Parhizgari; Mohammad Hashemijoo; Collins E. Okafor; Yuka Nishikawa; Alireza Dastan Purpose The authors revisit the inquiry into the primacy of shareholders vis-à-vis stakeholders that has been debated since 19th Century. The authors consider B...

... their warrants. The degree of change depends on who owns the warrants when exercised. The warrant holders may not be the original investors in the equity offering. If we assume that outstanding warrants are diffusely held outside of the firm at exercise, then the number of shareholders remains the same while...

...Jun Yang; Eric Zengxiang Wang; Yunbi An Purpose The purpose of this paper is to study filer identities and voting outcomes of Canadian shareholder proposals and their impact on shareholders' wealth during the period from 2001 to 2008. Design/methodology/approach In total, 762 Canadian...

...Grace Qing Hao; John S. Howe Purpose A friendly merger can be structured as a one‐step transaction or a two‐step transaction. For a variety of reasons, such as the fast speed with which two‐step mergers are completed, there are concerns about whether target shareholders are disadvantaged...

...Monzural Hoque; Aiwu Zhao; Alexander J. Brehm Purpose The purpose of this paper is to investigate whether cumulative voting can help ease the conflicts between board of directors and minority shareholders. Design/methodology/approach The authors use voting result of shareholder proposals...

... yield plus the spread for each company credit rating obtained from Bondsonline.com Cost of preferred stock is obtained from www.nyse.com for available issues. Shareholders Stocks Cost of capital Employee stock ownership plans (ESOPs) have gained a bad reputation because of a few...

... of the announcement and offer some mixed results. Hull and Mazachek (2001) who examine the absolute insider ownership percentage for officers and directors and find that greater percentages cause more negative returns at the time of the equity issuance announcement. Equity capital Shareholders Share...

...Jorge Brusa; Wayne L. Lee; Carole Shook Purpose The purpose of this paper is to examine the effects of golden parachutes on shareholders' wealth when the measure is used as a compensation device instead of a takeover defense. The results show that the adoption of the measure has...

... performance. It focuses on IPOs where both families and Venture Capitalists (VCs) are engaged to lock‐in their shareholdings for a period of one year following the IPO date, and are thus expected, at least in the case of families, to provide an effective monitoring during this period. Findings The main...

... be explained by potential agency conflicts arising from the reduction in control held by the original shareholders nor by a reduction in the incumbents’ control. Practical implications Contrary to what may be expected, the involvement of the pre‐IPO shareholders in the firm after the flotation...

... that went public in the German market. However, for a long‐term investigation sufficiently data is only available for 218 firms which therefore form the sample for our empirical study. © Emerald Group Publishing Limited 2007 Shareholders Equity capital Financial markets Germany...

... are bought and sold on a stock exchange. Therefore closed-end funds are very much like stock. Unlike the case of the typical (open-end) mutual fund, the closed-end fund is not obligated to issue new shares or redeem outstand- Managerial Finance 36 ing shares at the net asset value (NAV). Shareholders wishing...