The holding company and corporate control

The holding company and corporate control

Author: Herman P. Daems

Publisher: Springer Science & Business Media

Published: 2012-12-06

Total Pages: 153

ISBN-13: 146134056X

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1. Research subject and objectives This study focuses on an economic institution, the large industrial holding company, which continues to hold a prominent if not a strategic position in the resource allocation process in many industrialised market economies. Powerful multicompany combines like the famous Japanese zaibatsu and the less familiar but equally powerful European industrial groups rely on the institution of the holding company to tie their intermarket control network together. Two general questions arise from this situation: first, what factors account for the viability and growth within a market setting of those institutions which internalise allocation decisions and, second, what effect do such institutions have on resource allocation? These questions provide the framework in which the proper research subject can be most adequately introduced. Before doing so, it is crucial to point out that the holding company institution, as analyzed in subsequent chapters, should not be confounded with the legal constructs, bearing the same generic name and flourishing in fiscal paradises, whose sole function is to organise tax evasion across national boundaries. The institution, as studied here, is the large holding company through which industrial groups manage multicompany systems. Such multicompany systems, operating an intermarket network by means of holding companies, continue to be more typical for Europe and Japan than for the United States where, for legal reasons, but also because of managerial efficiency, the multicompany system built around the holding company institution was rather short-lived and 1 the giant integrated multiunit enterprise rose to dominance instead.


Federal Bank Holding Company Law

Federal Bank Holding Company Law

Author: Pauline B. Heller

Publisher: Law Journal Press

Published: 1997

Total Pages: 1084

ISBN-13: 9781588520395

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Covers several aspects of bank holding companies, from permissible activities through operations. This book addresses such significant subjects as the Federal Reserve Board's supervisory framework for complex banking organizations, including guidance concerning capital adequacy; enhanced enforcement authority of federal regulators, and more.


Corporate Governance and Corporate Finance

Corporate Governance and Corporate Finance

Author: Ruud A.I. van Frederikslust

Publisher: Routledge

Published: 2007-12-18

Total Pages: 1313

ISBN-13: 1134136048

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Ruud. A. I. van Frederikslust, Associate Professor of Finance, Rotterdam School of Management, Erasmus University Rotterdam James S. Ang, Bank of America Eminent Scholar, Professor of Finance, College of Business, The Florida State University Sudi Sudarsanam, Professor of Finance & Corporate Control, School of Management, Cranfield University Ruud. A. I. van Frederikslust, Associate Professor of Finance, Rotterdam School of Management, Erasmus University Rotterdam. He joined Rotterdam School of Management as Associate Professor of Finance 1984 from the Inter-University Graduate School of Management, The Netherlands, where he was Associate Professor of Finance. He is author of the work Predictability of Corporate Failure (Kluwer Academic Publishers). And editor in chief of the volume of collection: Mergers & Acquisitions (in Dutch) and of the volume Corporate Restructuring and Recovery (in Dutch) (Reed Elsevier LexisNexis). He has participated in the organizations of leading conferences in Europe and the USA and presented there also numerous research papers at the conferences. He has published in leading journals like the Multinational Finance Journal and the Journal of Financial Transformation. He was a member of the Board of the European Finance Association. James S. Ang, Bank of America Eminent Scholar, Professor of Finance, College of Business, Florida State University. He joined the College of Business, of Florida State University as a Professor of Finance in 1998 from Barnett Bank Chair Professor of Finance, Florida State University. His main areas of research interest are amongst others, in corporate restructuring, corporate governance and control. He has published extensively in leading academic journals like Journal of Corporate Finance, Journal of Financial Economics, Journal of Finance, The Bell Journal of Economics, Journal of Financial and Quantitative Analysis, Journal of Money, Credit and Banking, and The Review of Economics and Statistics. And he is a member (current and past) of the Editorial Board of several of these Journals. He is amongst others a member of the Board of Trustees of the Financial Management Association and formerly he was a member of the Board of Directors of the European Financial Management Association. Sudi Sudarsanam, Professor of Finance & Corporate Control, School of Management, Cranfield University. He joined Cranfield as Professor of Finance and Corporate Control on the 1 January 2000 from City University Business School where he was Professor of Finance and Accounting. His original commercial background was in banking and international trade finance. Sudi’s main areas of research interest are in corporate restructuring, mergers and acquisitions and corporate strategy, adopting a multidisciplinary approach. He is one of the leading authorities on mergers and acquisitions in Europe and author of The Essence of Mergers and Acquisitions (Prentice Hall), translated into five European and Asian languages. His recent book, Creating value from mergers and acquisitions: the challenges, an international and integrated perspective (FT Prentice Hall, 2003, pp613) has been widely acclaimed by both academics and practitioners and is considered a standard work on M & A. He has been a visiting professor at US and European business schools. He has been an expert commentator on mergers and acquisitions on radio and television and in the print media. Sudi has also published articles in top US and European journals on corporate restructuring, corporate governance and valuation of intellectual assets.


Corporate Governance Regimes

Corporate Governance Regimes

Author: Joseph McCahery

Publisher: Oxford University Press, USA

Published: 2002

Total Pages: 728

ISBN-13: 9780199247875

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This volume provides an up-to-the-minute survey of the field of corporate governance, focusing particularly on issues of convergence and diversity. A number of topics are discussed including bankruptcy procedures, initial public offerings, the role of large stakes, comparative corporate governance, and institutional investors.


Capital Markets and Corporate Governance in Japan, Germany and the United States

Capital Markets and Corporate Governance in Japan, Germany and the United States

Author: Helmut Dietl

Publisher: Routledge

Published: 1997-11-27

Total Pages: 185

ISBN-13: 113469394X

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Why did financial keiretsu develop in Japan, but not in Germany and the United States? Why is bank intermediation more dominant in Germany and Japan than in the United States? What are the advantages and disadvantages of each system? Capital Markets and Corporate Governance in Japan, Germany and the United States answers these and related questions


The Transformation of Corporate Control

The Transformation of Corporate Control

Author: Neil Fligstein

Publisher: Harvard University Press

Published: 1993

Total Pages: 408

ISBN-13: 9780674903593

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In this book Neil Fligstein takes issue with prevailing theories of the corporation and proposes a radically new view that has important implications for American competitiveness.


Corporate Governance

Corporate Governance

Author: Joachim Schwalbach

Publisher: Springer Science & Business Media

Published: 2012-12-06

Total Pages: 218

ISBN-13: 3642594999

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Corporate Governance is a subject of great interest to academics, investors, and politicians throughout the world. Corporate governance is associated with the way firms are managed and controlled. Countries have adopted different governance systems to resolve the corporate governance issues. Anglo-Saxon systems differ from European and Japanese systems, and Eastern Europe and China, for instance, experiment with the way private organizations should be governed. Despite the great interest and intense debate, empirical evidence on the effectiveness of various governance systems is still sparse. This book brings together most current contributions from various perspectives and from an international angle. The book is an essential reading for academics, university students, practitioners, investors, politicians, and legislators.