Univ., Diss.--Bayreuth, 2003.

Thesis (M.B.A.)--University of Hong Kong, 1993.

Zugl.: Saarbrücken, Universiẗat, Diss., 2004.

No description available.

It is the objective of this comparative thesis to analyze how Canadian and German legislators have addressed the compromise between minority shareholder protection and flexibility in the regulation of going private transactions. The structure of this study follows the distinction between indirect and direct-methods that are available to a controlling shareholder who sets out to eliminate minority shareholder participations in order to become the exclusive shareholder of a corporation. In fact, both jurisdictions under consideration provide for a complex regime of corporate and securities law to govern going private transactions. The interplay of corporate and securities law produces a typical regulatory conflict between the goals of shareholders as opposed to investor protection on the one hand, and the purpose of a flexible corporate law regime and efficient capital markets regulation on the other hand. This comparative analysis evidences the respective advantages and disadvantages of the Canadian and German regimes and provides for regulatory prescriptions that result from the comparison.

Yuen, San Wing. / Thesis (M.Phil.)--Chinese University of Hong Kong, 2010. / Includes bibliographical references (leaves 58-61). / Abstracts in English and Chinese. / Chapter 1 --- Introduction --- p.1 / Chapter 2 --- Literature review and hypothesis development --- p.5 / Chapter 2.1 --- Going private --- p.5 / Chapter 2.2 --- Tunneling and the expropriation of minority shareholders --- p.9 / Chapter 2.3 --- Our hypotheses --- p.12 / Chapter 3 --- Samples --- p.15 / Chapter 3.1 --- Sample construction --- p.15 / Chapter 3.2 --- Sample description --- p.16 / Chapter 3.3 --- Corporate governance and financial variables --- p.18 / Chapter 3.4 --- Related party transactions --- p.21 / Chapter 4 --- Empirical analysis --- p.23 / Chapter 4.1 --- Event study results --- p.23 / Chapter 4.2 --- Negative premium --- p.34 / Chapter 4.3 --- Insider trading --- p.37 / Chapter 4.4 --- The decision to go private --- p.39 / Chapter 4.4.1 --- Sample matching --- p.39 / Chapter 4.4.2 --- Comparison between going private companies and public companies --- p.41 / Chapter 4.5 --- Logit regression analysis on going private decision --- p.43 / Chapter 4.6 --- The value effect of the bidding firms --- p.46 / Chapter 5 --- Conclusion --- p.49 / Chapter A --- Privatized companies included in the sample with announcement dates --- p.51 / Chapter B --- Methodology of event study --- p.53 / Chapter C --- Bidder companies --- p.55 / Chapter D --- A list of definition of variables --- p.56 / Reference --- p.58

Thesis: M.S., Massachusetts Institute of Technology, Sloan School of Management, 1976 / Includes bibliographical references. / by Angelika M. Ch. Esser. / M.S. / M.S. Massachusetts Institute of Technology, Sloan School of Management

published_or_final_version / Business Administration / Master / Master of Business Administration

Made available in DSpace on 2016-04-28T20:19:08Z (GMT). No. of bitstreams: 1 2006-Benjamim de Souza Siqueira.pdf: 541624 bytes, checksum: 8e71a67b7aefa5b7cbce0825c7a5bc16 (MD5) Previous issue date: 2006-02-21 / This work was carried through has as objective to analyze the good impacts of the adoption of corporative governance in Brazil in the period of 2002-2005 through the analysis of the closings daily of the IGC in relation to the Ibovespa and influence of the macroeconomic factors (Risk - Brazil, Selic tax and North American dollar). In the analysis of the impact of the governance one used the closings daily of the IGC, Ibovespa, Risk - Brazil, Tax Selic and North American Dollar in the period of 02/01/2002 the 30/06/2005 and statistical studies of the linear regression, correlation and determination of the risk coefficient. In the conclusion, it was proven that the corporative governance is an important step for the development of the stock market in Brazil, therefore to create one favorable environment the investments in shares, but Brazil still needs to improve its macroeconomic beddings to create an environment propitiates to the sustainable development. / Este trabalho foi realizado tendo como objetivo analisar os impactos da ado??o da governan?a corporativa no Brasil no per?odo de 2002-2005 atrav?s da an?lise dos fechamentos di?rio do IGC em rela??o ao Ibovespa e a influ?ncia dos fatores macroecon?micos (Risco - Brasil, taxa Selic e d?lar norte-americano). Na an?lise do impacto da governan?a utilizou-se os fechamentos di?rio do IGC, Ibovespa, Risco - Brasil, Taxa Selic e D?lar norte-americano no per?odo de 02/01/2002 a 30/06/2005 e os estudos estat?sticos da regress?o linear, correla??o e determina??o do coeficiente b de risco. Na conclus?o, evidenciou-se que a governan?a corporativa ? um importante passo para o desenvolvimento do mercado de capitais no Brasil, pois ? fundamental a cria??o de uma ambiente institucional favor?vel os investimentos em a??es, entretanto o Brasil ainda precisa melhorar os seus fundamentos macroecon?micos para criar um ambiente propicio ao desenvolvimento sustent?vel.

Text in Afrikaans / Daar is 'n toenemende bewuswording van die noodsaaklikheid van effektiewe beskerming vir minderhede. Die rede vir hierdie toenemende erkenning aan die behoefte aan minderheidsbeskerming is waarskynlik toe te skryf aan die beset dat dit nie alleen die minderheidsaandeelhouers is wat skade ly in geval van benadelende optrede nie, maar ook die ekonomie. Maatskappye word ingevolge die beginsel van meerderheidsbewind bestuur, met die gevolg dat die minderheid onderworpe is aan die wil van die meerderheid. Die minderheid kan hulself hierdeur in 'n onbenydenswaardige posisie bevind, veral indien die meerderheid hul mag aanwend om hul eie belange te bevorder. Gemeenregtelik is die reel in Foss v Harbottle 'n struikelblok vir minderheidsaandeelhouers wat gedingvoering beoog. In 'n poging om die gebrekkige gemeenregtelike beskerming van minderhede te ondervang, is bepaalde statutere maatreels ingevoer. Die evaluasie van hierdie maatreels geskied aan die hand van 'n regsvergelykende ondersoek na verskeie buitelandse stelsels, waarvan die van Nieu-Seeland en Kanada uit staan vanwee die innoverende aard van hul statutere beskermingsmaatreels. Die gevolgtrekking is dat die beskerming wat die Suid-Afrikaanse statutere maatreels aan minderhede bied, onbevredigend is om verskeie redes. Eerstens is hierdie maatreels dikwels te eng bewoord wat daartoe lei dat die aanwendingsveld van die maatreels beperk is. Tweedens hou die maatreels nie tred met ontwikkelings elders in die wereld en veranderende omstandighede en behoeftes in die praktyk nie. Derdens ontbreek goed geformuleerde remedies wat aanvullend tot artikel 252 van die Wet sal wees. Daar is verder bevind dat ad hocwysigings van bestaande maatreels nie die gewenste resultaat gaan bereik nie en 'n algehele hervorming van die Suid-Afrikaanse maatskappyereg word aanbeveel. Ten slotte word konkrete voorstelle in die vorm van konsepwetgewing gemaak en word vergesel van verduidelikende notas. Hierdie wetgewing is hoofsaaklik aan die hand van die Nieu-Seelandse en Kanadese modelle geformuleer. / There is a growing awareness of the need for effective protection of minority shareholders. This can probably be ascribed to the acknowledgement of the fact that prejudicial conduct harms not only minority shareholders, but also the economy at large. Companies are governed by the principle of majority rule; consequently the minority is subjected to the will of the majority. This often places the minority in an invidious position, especially when the majority use their power to further their own interests. The rule in Foss v Harbottle presents a stumbling block to minority shareholder action. Certain statutory measures have been introduced in an effort to counter defective minority protection. These statutory measures are evaluated in the light of a comparative study of several foreign jurisdictions, the most prominent of which are New Zealand and Canada, because of the innovative nature of the measures which they employ. The conclusion arrived at is that, for various reasons, the protection afforded minorities by the South African statutory measures is unsatisfactory. Firstly, the wording of these measures is narrowly construed; this in turn results in a narrow field of application. Secondly, these measures are not in step with developments elsewhere in the world and with the changing circumstances and needs in practice. Thirdly, well-formulated remedies needed in order to supplement section 252 of the Act are non-existent. It has also been found that ad hoc amendments of existing measures will not achieve the required result, and consequently a complete reform of South African company law is recommended. Finally, specific recommendations in the form of draft legislation are made; these are accompanied by explanatory notes. This draft legislation was formulated primarily along the lines of the New Zealand and Canadian models. / Private Law / LL.D.