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Friday, July 31, 2020 | History

1 edition of Investor protection and corporate valuation found in the catalog.

Investor protection and corporate valuation

Investor protection and corporate valuation

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  • 12 Currently reading

Published by National Bureau of Economic Research in Cambridge, MA .
Written in English

    Subjects:
  • International business enterprises -- Valuation -- Law and legislation.,
  • Corporations -- Finance -- Law and legislation.,
  • Corporations -- Valuation -- Law and legislation.,
  • Minority stockholders -- Legal status, laws, etc.,
  • Corporate governance -- Law and legislation.

  • Edition Notes

    StatementRafael La Porta ... [et al.].
    SeriesNBER working paper series -- working paper 7403, Working paper series (National Bureau of Economic Research) -- working paper no. 7403.
    ContributionsLa Porta, Rafael., Lopez-de-Silanes, Florencio., Shleifer, Andrei., Vishny, Robert W., National Bureau of Economic Research.
    The Physical Object
    Pagination31, [9] p. :
    Number of Pages31
    ID Numbers
    Open LibraryOL22393026M

    Investor Protection and Corporate Governance analyzes the impact of corporate governance on firm performance and valuation. Using unique datasets gathered at the firm-level - the first such data in the region - and results from a homogeneous corporate governance questionnaire, the book examines corporate governance characteristics, ownership. Investor Protection and Corporate Governance analyzes the impact of corporate governance on firm performance and valuation. Using unique datasets gathered at the firm-level - the first such data in the region - and results from a homogeneous corporate governance questionnaire, the book examines corporate governance characteristics, ownership structures, dividend policies, and performance .

    of investor protection provided in the foreign market. Pagano, Roell and Zechner () and Coffee () impact of corporate governance on valuation through a process of elimination. These comparisons are care- a measure of the valuation of a firm’s equity. The book-Cited by: Accounting for value provides protection from paying too much for a stock and clues the investor in to the likely return from buying growth. Strikingly, the analysis finesses the need to calculate a "cost-of-capital," which often frustrates the application of modern valuation techniques.

    This paper examines how investor protection, as measured by an index of anti-director rights affects earnings opacity, which in turn is shown to be linked to corporate consumersnewhomeconstruction.com: Ahmed Riahi-Belkaoui. The essays collected in this volume put together a compelling picture showing that many of the symptoms of investor expropriation and poor corporate governance are present in Latin America. The evidence is loud and clear in every chapter of this consumersnewhomeconstruction.com by:


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Investor protection and corporate valuation Download PDF EPUB FB2

Dec 17,  · Using the largest firms makes it harder to find the benefits of investor protection for corporate valuation, since large firms have access to substitute mechanisms for limiting their expropriation of minority shareholders, including public scrutiny, reputation‐building, foreign shareholdings, and listings on international consumersnewhomeconstruction.com by: Note: Citations are based on reference standards.

However, formatting rules can vary widely between applications and fields of interest or study. The specific requirements or preferences of your reviewing publisher, classroom teacher, institution or organization should be applied.

Get this from a library. Investor Protection and Corporate Valuation. [Rafael La Porta; Florencio Lopez-deSilanes; Andrei Shleifer; Robert W Vishny] -- We present a model of the effects of legal protection of minority shareholders and of cash flow ownership by a controlling shareholder on the valuation of firms.

We then test this model using a. Downloadable. We present a model of the effects of legal protection of minority shareholders and of cash flow ownership by a controlling shareholder on the valuation of firms. We then test this model using a sample of large firms from 27 wealthy economies.

Consistent with the model, we find evidence of higher valuation of firms in countries with better protection of minority shareholders. Investor protection through individual is the strategy that one utilizes to minimize loss. Individual investors can protect themselves by purchasing only shares of businesses that they understand, or only those that remain calm through market volatility.

An individual investor may be. Investor Protection and Governance in the Valuation of Emerging Markets Investments Leila Atwi, Assem Safieddine, and Sheridan Titman We report the results of a survey that asks investors to compare the value of a hypothetical Australian firm with its exact counterpart located in Malaysia, Mexico, Saudi Arabia, South Africa, or Iran.

Corporate governance, investor protection, and performance in emerging markets (English) Abstract. Recent research studying the link between law, and finance has concentrated on country-level investor protection measures, and focused on differences in legal systems across countries, and legal consumersnewhomeconstruction.com by: Business valuation is a process and a set of procedures used to estimate the economic value of an owner's interest in a business.

Valuation is used by financial market participants to determine the price they are willing to pay or receive to effect a sale of a business. In addition to estimating the selling price of a business, the same valuation tools are often used by business appraisers to.

We argue that investor protection changes the relative importance of productivity and scale as drivers of corporate control transfers.

Using a large sample of European firms we find that control transfers are more correlated with increasing profitability and less correlated with increasing size when investor protection is consumersnewhomeconstruction.com: Borja Larrain, Matías Tapia, I Francisco Urzúa.

This book explores the status quo of corporate governance in banking and investor protection from both theoretical and practical perspectives. Bringing together original conclusions with a regional and international focus, it provides a timely and comprehensive overview of the effectiveness of corporate governance in the financial sector and an.

Downloadable. We present a model of the effects of legal protection of minority shareholders and of cash flow ownership by a controlling shareholder on the valuation of firms. We then test this model using a sample of large firms from 27 wealthy economies. Consistent with the model, we find evidence of higher valuation of firms in countries with better protection of minority shareholders Cited by: We then test this model using a sample of large firms from 27 wealthy economies.

Consistent with the model, we find evidence of higher valuation of firms in countries with better protection of minority shareholders, and weaker evidence of the benefits of higher cash flow ownership by controlling shareholders for corporate valuation.

The influence of Institutions, Investor Protection and Corporate Block-shareholders in Asset Pricing Bruce Hearn University of Leicester Kate Phylaktis* Cass Business School Jenifer Piesse University of Stellenbosch, South Africa Abstract This study introduces a new asset pricing factor to capture both the effects of concentratedAuthor: Bruce Allen Hearn, Kate Phylaktis, Jenifer Piesse.

Investor protection and corporate valuation. In particular, information is more available in larger firms, firms with lower leverage, higher market-to-book ratios, and more concentrated ownership.

Why do countries matter so much for corporate governance. Investor protection and corporate governance: firm-level evidence across Latin America / 4 Corporate Governance, Market Valuation, and Payout Policy in Chile Price-to-Book Value of Equity Firm Migration by Legal System and in Mexico Share of.

'Investor Protection and Corporate Governance' analyzes the impact of corporate governance on firm performance and valuation. Using unique datasets gathered at the firm-level—the first such data in the region—and results from a homogeneous corporate governance questionnaire, the book examines corporate governance characteristics, ownership structures, dividend policies, and performance Cited by: 'Investor Protection and Corporate Governance' analyzes the impact of corporate governance on firm performance and valuation.

Using unique datasets gathered at the firm-level--the first such data in the region--and results from a homogeneous corporate governance questionnaire, the book examines corporate governance characteristics, ownership structures, dividend policies, and performance. Ownership Structure and Investor Protection - Inside Ownership and Firm Valuation - Marco Klapper - Bachelor Thesis - Business economics - Business Management, Corporate Governance - Publish your bachelor's or master's thesis, dissertation, term paper or essay.

Introduction to ‘Valuation in Emerging Markets’ to-book ratios are positively related to optimism in the analysts’ forecasts. Lang et al. (in preparation) address the issue of how the choice of a firm’s attention than investor protection in recent research on corporate governance. 'Investor Protection and Corporate Governance' analyzes the impact of corporate governance on firm performance and valuation.

Using unique datasets gathered at the firm-levelâ the first such data in the regionâ and results from a homogeneous corporate governance questionnaire, the book examines corporate governance characteristics, ownership structures, dividend policies, and performance.

The level of investor protection is hence an essential moderator for the effect of CSR on cost of equity. We also investigate the channels by which CSR relates to cost of equity, and show that in countries with pronounced investor protection, firms with increased CSR ratings benefit from a broader investor base, rather than reduced firm consumersnewhomeconstruction.com by: 7.investor protection laws, less conservative accounting standards, greater income conservatism, and more transparent accounting systems.

The European culture has researched, in primis, the theoretical basis The valuation of small and medium-sized enterprises di Fabio Giulio Grandis, Federica Palazzi.Jul 27,  · The book as a whole provides a functional analysis of corporate (or company) law in Europe, the U.S., and Japan.

Its organization reflects the structure of corporate law across all jurisdictions, while individual chapters explore the diversity of jurisdictional approaches to the common problems of corporate law. Investor Protection and Cited by: