Corporate governance and shareholder initiatives: empirical evidence

Article Abstract:

The relationship between corporate governance and shareholder initiatives is examined. According to results, firms that attract governance proposals are those that have dismal prior performance as seen in the market-to-book ratio, operating return and sales growth. After the proposals, however, the operating returns, company share values and top management turnover do not improve. Even those proposals that are endorsed by the majority of shareholders do not result in higher share price or change in firm policies.

Research, Stockholders, Corporate governance

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Abnormal returns to rivals of acquisition targets: a test of the 'acquisition probability hypothesis.'

Article Abstract:

An acquisition probability hypothesis is developed and tested to examined the impact of being a rival of a target for an acquisition.

Acquisitions and mergers

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Uniformly least powerful tests of market efficiency

Article Abstract:

Methodologies for assessing abnormal returns and market efficiency are examined in detail.

Markets (Economics)

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