Browsing HBS Scholarly Articles by Keyword "business and shareholder relations"

Now showing items 1-4 of 4

    • Agency Costs, Mispricing, and Ownership Structure 

      Chernenko, Sergey; Foley, C. Fritz; Greenwood, Robin Marc (Wiley Online, 2012)
      Standard theories of corporate ownership assume that because markets are efficient, insiders ultimately bear all agency costs that they create and therefore have a strong incentive to minimize conflicts of interest with ...

    • Global, Local, and Contagious Investor Sentiment 

      Baker, Malcolm P.; Wurgler, Jeffrey; Yuan, Yu (Elsevier, 2015-06-16)
      We construct investor sentiment indices for six major stock markets and decompose them into one global and six local indices. In a validation test, we find that relative sentiment is correlated with the relative prices of ...

    • Golden Parachutes and the Wealth of Shareholders 

      Bebchuk, Lucian Arye; Cohen, Alma; Wang, Changyi Chang-Yi (2014)
      Golden parachutes (GPs) have attracted substantial attention from investors and public officials for more than two decades. We find that GPs are associated with higher expected acquisition premiums and that this association ...

    • Governance and CEO Turnover: Do Something or Do the Right Thing? 

      Fisman, Ray; Khurana, Rakesh; Rhodes-Kropf, Matthew; Yim, Soojin (INFORMS, 2014)
      We study how corporate governance affects firm value through the decision of whether to fire or retain the CEO. We present a model in which weak governance—which prevents shareholders from controlling the board—protects ...