Corporate Governance Reforms in the EU: Do they Matter and How?

This paper proposes a new approach to quantifying the effects of corporate governance reforms, by focusing on the dynamics of the voting premiums, a measure of the private benefits of control in a corporation. The results indicate that the reforms have been successful in reducing the voting premiums...

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Bibliographic Details
Main Author: Ivaschenko, Iryna V. (Author)
Format: Electronic eBook
Language:English
Published: Washington, D.C International Monetary Fund 2008
Series:IMF Working Papers Working Paper No. 08/91
Subjects:
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Summary:This paper proposes a new approach to quantifying the effects of corporate governance reforms, by focusing on the dynamics of the voting premiums, a measure of the private benefits of control in a corporation. The results indicate that the reforms have been successful in reducing the voting premiums EU-wide. Moreover, more intense and broad reform efforts (such as introducing national reforms beyond and above the EU-wide initiatives) bring higher and longer lasting benefits. Our findings also suggest that the market for corporate control in Europe has become more integrated, as illustrated by the lower dispersion in voting premiums across countries and over time
Item Description:Includes bibliographical references
Physical Description:1 Online-Ressource (29 p)
ISBN:1451869525
9781451869521

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