Corporate Groups

Working Paper

The Politics of CEOs

This article studies the political preferences of chief executive officers (CEOs) of public companies. We use Federal Election Commission records to compile a comprehensive database of the political contributions made by more than 3800...Read more

Alma Cohen
Moshe Hazan
Roberto Tallarita
David Weiss
16 December 2019

Which Related Party Transactions Should Be Subject to Ex Ante Review? Evidence from Germany

The amended EU shareholder rights directive introduces a comprehensive regime of ex ante review for potentially conflicted transactions between listed companies and their major shareholders, downstream entities, and managers. Such ‘related party...Read more

Andreas Engert
Tim Florstedt
16 December 2019

Bringing the AGM to the 21st Century: Blockchain and Smart Contracting Tech for Shareholder Involvement

The AGM is often considered to play an important role in direct shareholder monitoring of directors and corporate blockholders. However, its practical functioning suffers from large obstacles.

In this research we outline the AGM’s flaws...Read more

Christoph Van Der Elst
16 December 2019

The Great Pyramids of America: A Revised History of US Business Groups, Corporate Ownership and Regulation, 1930-1950

Most listed firms are freestanding in the U.S, while listed firms in other countries often belong to business groups: lasting structures in which listed firms control other listed firms. Hand-collected historical data illuminate how the present...Read more

Eugene Kandel
Randall Morck
Yishay Yafeh
16 December 2019

Groups of Companies - A Comparative Study on the Economics, Law and Regulation of Corporate Groups

The phenomenon of groups of companies is very common in modern corporate reality. The empirical data on groups of companies are heterogeneous because they are collected for very different regulatory and other objectives. Two main agency problems...Read more

Klaus Hopt
16 December 2019

Related Party Transactions: Policy Options and Real-World Challenges (With a Critique of the European Commission Proposal)

This paper provides a legal and policy analysis of transactions between a corporation and one of its ?related parties.? It first highlights the reasons why related party transactions (?RPTs?) are so common around the world. Next, it better...Read more

Luca Enriques
16 December 2019

News

The Politics of CEOs

CEOs of U.S. public companies have significant influence over policy and political decisions. They are commonly regarded as authoritative experts...Read more

Alma Cohen
Moshe Hazan
Roberto Tallarita
David Weiss
16 December 2019