What does the sweeping do

Package Shareholders, Power, and Corporate Success

Product details

publishing company
Deutscher Universitätsvlg
German university publisher
XXVIII, 266 pages
14 figures, 51 tables
210 mm x 148 mm

Table of Contents

The theoretical impact of multiple package shareholders on corporate success
Model theoretical studies on the effects of the interaction of package shareholders
Alternative corporate governance mechanisms for solving the principal-agent problem
Determining the power potential of package shareholders

Long text

Research on the influence of corporate governance on the efficiency of a stock corporation has been flourishing for ten years. This has led to a number of investigations into the shareholder structure. Surprisingly little attention, even in Europe, was the question of whether several major shareholders represent an improvement over just one major shareholder.
Sven Kehren examines the interaction of package shareholders. The focus is on the relationship between the shareholder structure, balance of power and corporate success. It relies on its own database of German stock corporations for the years 1996 to 2000, compiled from various data sources, on multiple regression models and non-linear univariate techniques. The results on the relationship between shareholder structure and corporate success are poor and contradictory, but a powerful second package shareholder seems to have a positive effect on corporate success.

About the author

Dr. Sven Kehren did his PhD with Prof. Dr. Hartmut Schmidt at the Institute for Money and Capital Transactions at the University of Hamburg. He is in charge of conception at the HEH HamburgerEmissionshaus.