scholarly journals When Blockchain Creates Shareholder Value: Empirical Evidence from International Firm Announcements

2021 ◽  
Author(s):  
Maximilian Klöckner ◽  
Christoph G. Schmidt ◽  
Stephan M. Wagner
Keyword(s):  
Empirical Evidence ◽  
Shareholder Value ◽  
International Firm

scholarly journals Financialisation and the coupon pool

2002 ◽  
Vol 26 (3) ◽  
pp. 119-151 ◽  
Author(s):  
Julie Froud ◽  
Sukhdev Johal ◽  
Karel Williams
Keyword(s):  
Corporate Governance ◽  
Empirical Evidence ◽  
Capital Markets ◽  
Shareholder Value ◽  
The Other ◽  
Critical Examination ◽  
Generic Term

This article aims to extend our understanding of the role of capital markets in present day capitalism. It starts from a critical examination of established terms, shareholder value, corporate governance and financialisation, before suggesting a new generic term, coupon pool capitalism. The second half aims to demonstrate that, unlike the other terms, the coupon pool concept distinctively emphasises the generation of contradictions and instabilities. Empirical evidence is used to support the concept and explore dynamics.

scholarly journals Does mandatory CSR provide long-term benefits to shareholders?

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Juniarti Juniarti
Keyword(s):  
Developing Countries ◽  
Empirical Evidence ◽  
Stock Exchange ◽  
Shareholder Value ◽  
Content Type ◽  
Accounting Measurement ◽  
Annual Reporting ◽  
Shareholder Benefit ◽  
Term Benefit

Purpose Mandatory corporate social responsibility (CSR) aims to protect the long-term benefit of shareholders; therefore, this study aims to seek empirical evidence for the benefit of mandatory CSR from the perspective of shareholders. Design/methodology/approach Consistent with the objective of this study, the long-term shareholder benefit is measured using the sustainability perspective. Companies listed on the Indonesia Stock Exchange that have at least five years of CSR implementation, as its mandate and have retroactive earnings data for minimum six years before the observation year are selected as the study’s sample. Findings The findings support that mandated CSR protects long-term shareholder value; there is a significant association between CSR and sustainable shareholder value. Industry profiles are an essential aspect of the association model. The results are robust through testing the association for various scenarios of time. Research limitations/implications This study uses a single measurement of shareholder value based only on accounting measurement. Further, due to limitations in accessing internal company data, this study relies on annual reporting information to measure CSR implementation. Originality/value This study is the first to provide empirical evidence of the long-term benefit of mandatory CSR from the shareholders' perspective. This study also contributes to the existing literature by evaluating the success of mandatory CSR in developing countries. Those that successfully implemented mandatory CSR can serve as a model for other developing countries interested in creating similar policies to encourage socially responsible companies.

Managed Distribution Policies in Closed-End Funds and Shareholder Activism

2014 ◽  
Vol 49 (5-6) ◽  
pp. 1311-1337 ◽  
Author(s):  
Martin Cherkes ◽  
Jacob S. Sagi ◽  
Z. Jay Wang
Keyword(s):  
Empirical Evidence ◽  
Shareholder Value ◽  
Shareholder Activism ◽  
Wealth Transfer ◽  
Closed End Funds

AbstractIn closed-end funds, a managed distribution policy (MDP) is a dividend commitment potentially requiring the liquidation of assets. We argue that MDPs lower managerial claims on fund assets and, when the fund is at a discount, increase shareholder value. This transfer of wealth can be rationalized by managers wishing to deter a challenge from activist shareholders through a costly proxy vote. We find strong empirical evidence that managers respond to the presence of activists using MDPs, that MDPs constitute an effective wealth transfer to shareholders, and that activists are less likely to challenge management when an MDP is in place.

Shareholder Value Creation: A Review of the Theoretical and Empirical Literature

2018 ◽  
Vol 14 (3-4) ◽  
pp. 74-80
Author(s):  
Merugu Venugopal ◽  
Ravindar Reddy M. ◽  
Bhanu Prakash Sharma G.
Keyword(s):  
Empirical Evidence ◽  
Performance Measures ◽  
Value Creation ◽  
Shareholder Value ◽  
Business Environment ◽  
Empirical Literature ◽  
Traditional Performance ◽  
Insight Into ◽  
Important Objective

The article attempts to study in detail the significance of shareholder value creation in the companies in emerging markets and reviews the research articles and studies available in categories such as importance, empirical evidence and drivers of shareholder value creation. The purpose of this article is to give an insight into shareholder value in the first section followed by the empirical evidence and drivers of the shareholder value. For this purpose of review, the article considers various studies made on shareholder value creation published by various recognised and other recognised sources. It is observed that shareholder value creation is the most important objective in this competitive business environment to maintain the long-term relationship with the investors. The empirical evidence attempts to prove that value-based measures outperform the traditional accounting measures. The article tries to investigate the need for finding the superior measure among the shareholder value performance measures and recommends the need for reviewing the traditional performance methods.

The State of State Competition for Incorporations

2015 ◽  
Author(s):  
Marcel Kahan
Keyword(s):  
Empirical Evidence ◽  
Shareholder Value ◽  
The State ◽  
Corporate Law ◽  
The Law

This chapter focuses on the competition by states for incorporations. More specifically, it examines three scholarly debates over state competition for incorporations: the “directional” debate, centered around the question of whether firms, if given a choice, will opt for corporate law rules that maximize shareholder value, corporate rules that maximize managerial benefits, something in between, or something else entirely; the “competition” debate, which is concerned with whether, how, and which states compete for incorporations; the “federalism” debate, which deals with the desirability of federal corporate law as an alternative to the present regime, where many corporate law rules are determined by the law of the firm’s state of incorporation. It also analyzes the empirical evidence in relation to all three debates.

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