Minority Shareholders

Working Paper

The Effect of Minority Veto Rights on Controller Tunneling

A central challenge in the regulation of controlled firms is curbing controller tunneling. As independent directors and fiduciary duties are widely seen as not up to the task, a number of jurisdictions have given minority shareholders veto rights...Read more

Jesse Fried
Ehud Kamar
Yishay Yafeh
19 February 2018

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
01 February 2015

What Matters and for Which Firms for Corporate Governance in Emerging Markets? Evidence from Brazil (and Other BRIK Countries)

A central issue in corporate governance research is the extent to which “good” governance practices are universal (one size mostly fits all) or instead depend on country and firm characteristics. We report evidence that supports the second view....Read more

Bernard Black
01 July 2011