Corporate Groups
Working Paper
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
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
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
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
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