{"title":"Business Courts and Firm Performance","authors":"J. Dammann","doi":"10.2139/ssrn.2889898","DOIUrl":"https://doi.org/10.2139/ssrn.2889898","url":null,"abstract":"Does it matter for firm performance whether corporations have access to high-quality courts for litigating their internal affairs? To shed some light on this question, this paper focuses on the creation of business courts in various states between 1992 and 2015. Employing a difference-in-difference approach, I find that the creation of business courts is associated with a 3.2 to 3.7 percentage point increase in firm performance as measured by return on assets. Moreover, corporations with access to business courts have a 0.5 percentage point higher likelihood of being the target in a completed merger with positive abnormal returns for the target’s shareholders. These results are both economically and statistically significant.","PeriodicalId":272425,"journal":{"name":"CGN: Other Enforcement & Litigation (Sub-Topic)","volume":"55 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-04-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124057409","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Implications of Ownership Identity and Insider’s Supremacy on the Economic Performance of the Listed Companies","authors":"Qaiser Rafique Yasser, A. Mamun","doi":"10.22495/COCV11I4C4P3","DOIUrl":"https://doi.org/10.22495/COCV11I4C4P3","url":null,"abstract":"We adopt a multi-theoretic approach to investigate a previously unexplored phenomenon in extant literature, namely the differential impact of ownership identity and director dominate shareholding on the performance of emerging market firms. The main research question addressed is, whether the impact of this relationship is conditional on the identity of the block investor. First, the relationship between overall block ownership and firm performance is tested by employing multiple regressions on 500 firm-year observations for the period from 2007 to 2011. Then, the block ownership is classified as the state, individuals, insiders, financial institutions, corporate and foreign investors and the influence of these identities on firm performance is examined. It was found that only the ownership categories such as the government, institutions and foreign ownership have positive influence on the firm performance. The results also indicate that high level of insider ownership also negatively associated with the firm performance. The main contribution of this paper is the examination of the relationship between block ownership and firm performance from the perspective of the identity of investors.","PeriodicalId":272425,"journal":{"name":"CGN: Other Enforcement & Litigation (Sub-Topic)","volume":"29 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2014-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127987147","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}