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hal.structure.identifierThéorie économique, modélisation et applications [THEMA]
dc.contributor.authorBelot, François*
hal.structure.identifierDauphine Recherches en Management [DRM]
dc.contributor.authorGinglinger, Edith*
hal.structure.identifierUniversity of Texas
dc.contributor.authorStarks, Laura*
dc.date.accessioned2019-09-18T14:21:31Z
dc.date.available2019-09-18T14:21:31Z
dc.date.issued2019
dc.identifier.urihttps://basepub.dauphine.fr/handle/123456789/19843
dc.language.isoenen
dc.subjectShareholder voteen
dc.subjectInstitutional Ownershipen
dc.subjectCorporate Governance Regulationen
dc.subject.ddc658.1en
dc.subject.classificationjelG.G3.G30en
dc.subject.classificationjelM.M1.M10en
dc.titleEncouraging long-term shareholders: The effects of loyalty shares with double voting rightsen
dc.typeCommunication / Conférence
dc.description.abstractenThe 2014 passage of the Florange Act in France changed an opt-in provision for loyalty shares (allocating a second voting right for shares held at least two years) to an opt-out provision with shareholder approval. We find that before 2014, loyalty shares were popular among small family firms. Following the Act, firms with a one share – one vote structure that announced they would opt out of the law incurred a negative market reaction, suggesting that shareholders have a positive perception of loyalty shares. It appears that by encouraging costly monitoring by long-term shareholders, loyalty shares can benefit all shareholders.en
dc.contributor.countryeditoruniversityotherUNITED STATES
dc.subject.ddclabelGestion financière, capital risque, création de valeuren
dc.relation.conftitle9th Financial Engineering and Banking Society international Conferenceen
dc.relation.confdate2019-05
dc.relation.confcityPragueen
dc.relation.confcountryCzech Republicen
dc.relation.forthcomingnonen
dc.description.ssrncandidatenonen
dc.description.halcandidateouien
dc.description.readershiprechercheen
dc.description.audienceInternationalen
dc.relation.Isversionofjnlpeerreviewednonen
dc.relation.Isversionofjnlpeerreviewednonen
dc.date.updated2019-09-18T12:39:20Z
hal.identifierhal-02291364*
hal.version1*
hal.update.actionupdateMetadata*
hal.author.functionaut
hal.author.functionaut
hal.author.functionaut


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