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Governance and Expropriation (Hardcover)
Loot Price: R7,034
Discovery Miles 70 340
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Governance and Expropriation (Hardcover)
Series: Corporate Governance in the New Global Economy series
Expected to ship within 12 - 17 working days
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Corporate groups outside the US are often controlled by a complex
of ownership links, which typically form a pyramidal structure: a
private holding company sits at the top of a control pyramid of
several tiers of companies; firms in the lowest tier are the
group's publicly listed companies. The usual practice of
expropriation in such groups is to pass bad assets to companies
down the pyramid and to pass the proceeds up the pyramid via
internal transactions. For this collection Larry Lang has selected
some of the most significant previously published articles by
leading academics which investigate this process and its
consequences. The volume explores the nature of ownership structure
in countries outside the US and examines how controlling owners
expropriate minority shareholders. It includes articles which
analyse the pros and cons of the various finance and accounting
issues resulting from this separation of ownership and control, and
presents some country-specific studies which examine the impact of
this disjunction. The editor has written an authoritative
introduction which provides explanatory information and points the
way for future research in this area.
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