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Liquidity spillover effects of equity offerings over dual-class shares
(Universidad EAFITEscuela de Economía y Finanzas, 2014-07-01)
We study the spillover effect from equity offerings over dual-class shares. Whereas, evidence has been found that a seasoned equity offering improves stock liquidity, the effect over the liquidity of different type shares ...
Differential pricing of equity classes, majority control, and corporate governance: evidence from brazilian privatized companies
(2005-11-24)
We examine price differences between different equity classes in listed companies in Brazil with particular emphasis on privatized companies, and discusses the role of majority control, liquidity, and governance issues ...
The Effects of Managerial Discretion and Corporate Control Variables on the Choice of an IPO Common Equity Structure-Edición Única
(Instituto Tecnológico y de Estudios Superiores de Monterrey, 2015)
Empresas dual class: Um estudo do impacto no valor das empresas brasileiras
(Enfoque: Reflexão Contábil, 2018)
The relevance of tag along rights and identity of controlling shareholders for the price spreads between dual-class shares: the brazilian case
(Associação Nacional de Pós-Graduação e Pesquisa em Administração, 2010)
This paper analyzes the determinants of the differential pricing of equity classes (the so-called dual-class premium [DCP]) in Brazil from 1995 to 2006 with a focus on two specific corporate governance aspects: i) the ...
The relevance of tag along rights and identity of controlling shareholders for the price spreads between dual-class shares: the Brazilian case
(ANPAD - Associação Nacional de Pós-Graduação e Pesquisa em Administração, 2010-03-01)
This paper analyzes the determinants of the differential pricing of equity classes (the so-called dual-class premium [DCP]) in Brazil from 1995 to 2006 with a focus on two specific corporate governance aspects: i) the ...
Disentangling the effect of private and public cash flows on firm value
(2017)
This paper presents a simple model for dual-class stock shares, in which common shareholders receive both public and private cash flows (i.e. dividends and any private benefit of holding voting rights) and preferred ...
Voting Premium in the Brazilian Equity MarketPrêmio por Controle no Mercado Brasileiro
(Sociedade Brasileira de Econometria, 2014)
Voting premium in the Brazilian equity market
(Sociedade Brasileira de Econometria, 2014-03-26)
This study aims to estimate the control premium in the Brazilian stock market, based on the dual-class price differential. We first show that the average control premium is positive from July 2003 to June 2013. This is ...
Majoritários vs. minoritários: uma análise dos benefícios de controle e o diferencial de preços entre classes de ações no Brasil por meio de uma abordagem por opções reais
(2014-01-29)
Este trabalho visa contribuir para a discussão e o instrumental a cerca dos benefícios de controle nas empresas e a forma de estimá-lo. Para tanto, utilizou-se uma abordagem baseada da teoria de opções reais, com foco no ...