Capital and Ownership Structure: A Comparison of United States and Japanese Manufacturing Corporations

1986 ◽  
Vol 15 (1) ◽  
pp. 5 ◽  
Author(s):  
W. Carl Kester
Keyword(s):  
United States ◽  
Ownership Structure ◽  
Capital And Ownership Structure

Financial Returns in Major League Soccer

2021 ◽  
pp. 152700252110227
Author(s):  
John Charles Bradbury
Keyword(s):  
United States ◽  
Ownership Structure ◽  
North American ◽  
Consumer Demand ◽  
Professional Sports ◽  
The United States ◽  
Professional Soccer ◽  
Major League Soccer ◽  
Major League ◽  
Sports Leagues

Major League Soccer (MLS) is the top-tier professional soccer league serving the United States and Canada. This study examines factors hypothesized to impact consumer demand for professional sports on team revenue in this nascent league. The estimates are consistent with positive returns to performance, novelty effects from newer teams, and varying impacts from roster quality and composition. Other factors hypothesized to be important for MLS teams (e.g., stadium quality and market demographics) are not associated with team revenue. The estimates are similar to findings in other major North American sports leagues, even though MLS operates with a unique single-entity ownership structure that has the potential to disincentivize individual team investments by league owners.

scholarly journals Are controlled companies underperforming?

2020 ◽  
Vol 19 (4) ◽  
Author(s):  
Linh Le ◽  
Dongfang Nie
Keyword(s):  
United States ◽  
Firm Performance ◽  
Ownership Structure ◽  
Capital Market ◽  
Keyword Search ◽  
Research Question ◽  
The United States ◽  
Fiscal Year ◽  
The Us ◽  
Important Player

Research Question: Are controlled companies underperforming in the United States? Motivation: Anecdotal evidence shows that the average market capitalization of controlled firms increased from $8.3 billion in 2005 to $20.6 billion in 2015. Given the rapid increase in capitalization, the group of controlled companies has become an important player in the US capital market. However, little is known about controlled companies. Idea: We examine whether controlled companies are underperforming relative to non-controlled companies in the United States. Data: The data sample consists of 351 listed companies in the United States for the fiscal year 2014. Tools: 176 controlled companies were manually collected by performing the keyword search “controlled company” from the U.S. Securities and Exchange Commissions (SEC) website via “www.seekedgar.com/”. Specifically, we search “controlled company” from proxy statement DEF 14A. Each controlled company is verified after reading through the proxy statement. Findings: Using 176 controlled companies and 176 random sampled non-controlled companies, we find that controlled companies are underperforming compared to non-controlled companies. Contribution: To the best of our knowledge, we are the first to collect the group of controlled companies in the US and we are among the first to study how firm performs under the type II agency problem (Pantzalis et al. 1998). We contribute to the stream of literature on how ownership structure (e.g., family-controlled firms) affects firm performance (Anderson & Reeb, 2003). Consistent with the findings from family-controlled firms, we show that ownership structure affects firm performance. Out study sheds light on the important role of controlled companies in the US capital market.

scholarly journals A Comparative Analysis of the Determinants of Executive Compensation between Canadian and U.S. Firms

2005 ◽  
Vol 50 (2) ◽  
pp. 297-319 ◽  
Author(s):  
Michel L. Magnan ◽  
Sylvie St-Onge ◽  
Linda Thorne
Keyword(s):  
United States ◽  
Comparative Analysis ◽  
Firm Performance ◽  
Executive Compensation ◽  
Firm Size ◽  
Ownership Structure ◽  
The United States ◽  
Firm Ownership ◽  
Size Firm ◽  
The U.S

This study attempts to identify determinants of executive compensation in Canada while comparing how they differ between Canada and the United States. Results suggest that firm size, firm performance, and firm ownership structure all determine executive compensation in Canada. However, several differences between the determinants of executive compensation in Canada and the U.S. are identified.

Determinants Of Internet Financial Reporting Of Croatian Banks – Panel Analysis

2017 ◽  
Vol 1 (2) ◽  
pp. 170
Author(s):  
Ivica Pervan ◽  
Marijana Bartulović
Keyword(s):  
Financial Reporting ◽  
Ownership Structure ◽  
Banking System ◽  
Panel Analysis ◽  
Dynamic Panel ◽  
Reporting Practices ◽  
Capital And Ownership Structure ◽  
Dynamic Panel Analysis ◽  
The Impact ◽  
Descriptive Level

<p>In the recent years, reporting and transparency of banks is in the focus of national and international regulators and their aim is to increase the transparency of financial institutions in order to strengthen stability of the banking system. In this paper, the authors used dynamic panel analysis in order to analyze the practice of Internet financial reporting of Croatian banks in the period from 2010 to 2014. Research of Bank's Internet financial reporting practices was carried out at two levels. At the first, descriptive level, the goal of the research was to determine the level as well as trends of Internet financial reporting of 27 Croatian banks during the observed period. It is assumed that the level of Internet financial reporting during the analyzed period increased as a result of stricter regulations in the financial sector. In order to measure the level of financial reporting by banks, Bank Internet financial reporting score was developed on the basis of 45 elements - criteria which are divided into two groups: financial reporting (20 elements) and corporate governance and risks (25 elements). The second goal of the research was to determine factors that significantly affect the practice of Bank Internet financial reporting in Croatia. The authors applied dynamic panel analysis in order to determine the impact of size, profitability, adequacy of capital and ownership structure on the level of Internet financial reporting of banks.</p>

scholarly journals The Role of Regulatory Capital and Ownership Structure in Bank Liquidity Creation: Evidence From Emerging Asian Economies

SAGE Open ◽  
2021 ◽  
Vol 11 (2) ◽  
pp. 215824402110060
Author(s):  
Ghulam Mujtaba Kayani ◽  
Yasmeen Akhtar ◽  
Chen Yiguo ◽  
Tahir Yousaf ◽  
Syed Jawad Hussain Shahzad
Keyword(s):  
Interest Rates ◽  
Ownership Structure ◽  
Positive Association ◽  
Safety Net ◽  
Regulatory Capital ◽  
Asian Economies ◽  
Negative Effect ◽  
Capital And Ownership Structure ◽  
Bank Funding ◽  
The Impact

We examine the effect of regulatory capital and ownership structure on banks’ liquidity creation in emerging Asian economies. We find a positive association between regulatory capital and bank liquidity creation, which is consistent with the risk-absorption hypothesis. Bank size has a positive relation with liquidity creation, implying that large banks have more capacity to create liquidity as they enjoy more of the safety net provided by lenders of last resort in the event of crisis, the advantage of reputational benefit, and easier access to external market funding. The negative effect of the bank funding structure is that, as the subordinate debt is typically uninsured, higher funding costs lead banks to reduce liquidity creation. The results imply that an increase in interest rates worsens liquidity creation. For ownership structure, the results show the significance of the impact of ownership concentration on liquidity creation. Banking institutions having higher equity and higher concentration ownership leads to improved liquidity creation.

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