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Majority Voting and Corporate Control: The Rule of the Dominant Shareholder

Citations

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Cited by:

  1. Azar, José, 2017. "Portfolio Diversification, Market Power, and the Theory of the Firm," IESE Research Papers D/1170, IESE Business School.
  2. Mich Tvede & Hervé Crés, 2005. "Voting in assemblies of shareholders and incomplete markets," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 26(4), pages 887-906, November.
  3. repec:spo:wpmain:info:hdl:2441/10284 is not listed on IDEAS
  4. Stefano Demichelis & Klaus Ritzberger, 2011. "A general equilibrium analysis of corporate control and the stock market," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 46(2), pages 221-254, February.
  5. repec:hal:spmain:info:hdl:2441/10284 is not listed on IDEAS
  6. Hervé Crès, 2000. "Majority Stable Production Equilibria: A Multivariate Mean Shareholders Theorem," Working Papers hal-00598173, HAL.
  7. David Kelsey & Frank Milne, 2008. "Imperfect Competition and Corporate Governance," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 10(6), pages 1115-1141, December.
  8. Doron Levit & Nadya Malenko & Ernst Maug, 2024. "Trading and Shareholder Democracy," Journal of Finance, American Finance Association, vol. 79(1), pages 257-304, February.
  9. Hervé Crès & Mich Tvede, 2011. "Production externalities: internalization by voting," Sciences Po Economics Publications (main) hal-00972983, HAL.
  10. Mich Tvede & Hervé Crès, 2001. "Voting in Assemblies of shareholders and Incomplete Markets," SciencePo Working papers hal-01064884, HAL.
  11. Alberto Bisin & Gian Luca Clementi & Piero Gottardi, 2014. "Capital Structure and Hedging Demand with Incomplete Markets," NBER Working Papers 20345, National Bureau of Economic Research, Inc.
  12. Sabarwal Tarun, 2007. "Value Maximization as an Ex-Post Consistent Firm Objective When Markets are Incomplete," The B.E. Journal of Theoretical Economics, De Gruyter, vol. 7(1), pages 1-21, January.
  13. A. De Waegenaere & H. Polemarchakis & L. Ventura, 2002. "Asset Markets and Investment Decisions," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 43(3), pages 857-873, August.
  14. Fioretti, Michele & Saint-Jean, Victor & Smith, Simon C., 2025. "The shared costs of pursuing shareholder values," Working Papers 362, The University of Chicago Booth School of Business, George J. Stigler Center for the Study of the Economy and the State.
  15. Mukherjee, Rahul, 2015. "Institutions, Corporate Governance and Capital Flows," Journal of International Economics, Elsevier, vol. 96(2), pages 338-359.
  16. Stefano Demichelis & Klaus Ritzberger, 2007. "Corporate Control and the Stock Market," Carlo Alberto Notebooks 60, Collegio Carlo Alberto.
  17. repec:spo:wpecon:info:hdl:2441/10282 is not listed on IDEAS
  18. repec:spo:wpmain:info:hdl:2441/10267 is not listed on IDEAS
  19. Hervé Crès & Mich Tvede, 2005. "Portfolio Diversification and Internalization of Production Externalities through Majority Voting," SciencePo Working papers hal-01065579, HAL.
  20. Hnatkovska, Viktoria, 2010. "Home bias and high turnover: Dynamic portfolio choice with incomplete markets," Journal of International Economics, Elsevier, vol. 80(1), pages 113-128, January.
  21. Thomas Renstrom & Erkan Yalcin, 2002. "Endogenous Firm Objectives," Industrial Organization 0204001, University Library of Munich, Germany.
  22. repec:spo:wpecon:info:hdl:2441/10281 is not listed on IDEAS
  23. Guido Ruta & Piero Gottardi, 2009. "Equilibrium corporate finance," 2009 Meeting Papers 149, Society for Economic Dynamics.
  24. Volker Britz & P. Herings & Arkadi Predtetchinski, 2013. "A bargaining theory of the firm," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 54(1), pages 45-75, September.
  25. Hervé Crès, 2000. "Majority Stable Production Equilibria: A Multivariate Mean Shareholders Theorem," SciencePo Working papers hal-01064883, HAL.
  26. Egbert Dierker & Hildegard Dierker & Birgit Grodal, 2006. "Are Incomplete Markets Able to Achieve Minimal Efficiency?," Studies in Economic Theory, in: Christian Schultz & Karl Vind (ed.), Institutions, Equilibria and Efficiency, chapter 7, pages 117-129, Springer.
  27. Hervé Crès & Mich Tvede, 2001. "Proxy fights in incomplete markets: when majority voting and sidepayments are equivalent," Working Papers hal-00597200, HAL.
  28. Ernst Maug & Bilge Yilmaz, "undated". "Two-Class Voting: A Mechanism for Conflict Resolution?," Rodney L. White Center for Financial Research Working Papers 4-00, Wharton School Rodney L. White Center for Financial Research.
  29. Mikami, Kazuhiko, 1999. "Proxy contests and corporate democracy," Journal of Economic Behavior & Organization, Elsevier, vol. 40(4), pages 353-371, December.
  30. Bisin, Alberto; & Gottardi, Piero; & Ruta, Guido, 2014. "Equilibrium corporate finance and intermediation," Economics Working Papers ECO2014/09, European University Institute.
  31. Hervé Crès & Mich Tvede, 2005. "Portfolio Diversification and Internalization of Production Externalities through Majority Voting," Working Papers hal-00587205, HAL.
  32. Luigi Ventura, 2004. "Investment Decisions and Normalization with Incomplete Markets: A Pitfall in Aggregating Shareholders' Preferences," International Journal of Business and Economics, School of Management Development, Feng Chia University, Taichung, Taiwan, vol. 3(1), pages 21-28, April.
  33. Han, Hongwen & Tang, Jiali Jenna & Tang, Qingquan, 2024. "The role of large shareholders in goodwill impairment decisions – Evidence from China," Emerging Markets Review, Elsevier, vol. 59(C).
  34. Erkan Yalçin & Thomas I. Renström, 2003. "Endogenous Firm Objectives," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 5(1), pages 67-94, January.
  35. Hervé Crès & Mich Tvede, 2009. "Production in incomplete markets: Expectations matter for political stability," SciencePo Working papers hal-01022731, HAL.
  36. Beker, Pablo F., "undated". "Market Selection And Payout Policy Under Majority Rule," Economic Research Papers 269763, University of Warwick - Department of Economics.
  37. Hervé Crès & Mich Tvede, 2005. "Portfolio Diversification and Internalization of Production Externalities through Majority Voting," Sciences Po Economics Publications (main) hal-01065579, HAL.
  38. L. Marsiliani & X. Liu & Л. Марсилиани & К. Лю, 2017. "Структура Акционерного Капитала И Степень Эксплуатации Нефтяных Месторождений // Share-Ownership Distribution And Extraction Rate Of Petroleum In Oil Fields," Review of Business and Economics Studies // Review of Business and Economics Studies, Финансовый Университет // Financial University, vol. 5(1), pages 42-53.
  39. repec:spo:wpmain:info:hdl:2441/10282 is not listed on IDEAS
  40. Renström, Thomas I & Yalcin, Erdal, 2002. "Endogenous Firm Objectives," CEPR Discussion Papers 3361, C.E.P.R. Discussion Papers.
  41. repec:spo:wpmain:info:hdl:2441/eu4vqp9ompqllr09ieq060086 is not listed on IDEAS
  42. repec:hal:wpspec:info:hdl:2441/10283 is not listed on IDEAS
  43. Stylianos Artsidakis & Yiannis Thalassinos & Theofanis Petropoulos & Konstantinos Liapis, 2022. "Optimum Structure of Corporate Groups," JRFM, MDPI, vol. 15(2), pages 1-16, February.
  44. repec:hal:spmain:info:hdl:2441/10281 is not listed on IDEAS
  45. Lee, Kyounghun & Oh, Frederick Dongchuhl, 2024. "Shareholder voting and efficient corporate decision-making," Research in Economics, Elsevier, vol. 78(4).
  46. Hervé Crès & Mich Tvede, 2004. "The Drèze and Grossman-Hart criteria for production in incomplete markets: Voting foundations and compared political stability," Working Papers hal-00591676, HAL.
  47. Eva Carceles-Poveda, 2009. "Asset Prices and Business Cycles under Market Incompleteness," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 12(3), pages 405-422, July.
  48. Ping‐Lun Tseng & Wen‐Chung Guo, 2022. "Bank risk‐taking in a mixed duopoly: The role of the state‐owned bank," International Review of Finance, International Review of Finance Ltd., vol. 22(4), pages 688-724, December.
  49. repec:hal:wpspec:info:hdl:2441/10267 is not listed on IDEAS
  50. repec:hal:spmain:info:hdl:2441/10282 is not listed on IDEAS
  51. repec:spo:wpmain:info:hdl:2441/10283 is not listed on IDEAS
  52. repec:hal:wpspec:info:hdl:2441/10284 is not listed on IDEAS
  53. Hervé Crès & Mich Tvede, 2009. "Production in incomplete markets: Expectations matter for political stability," Sciences Po Economics Publications (main) hal-01022731, HAL.
  54. Hervé Crès & Mich Tvede, 2023. "Corporate self-regulation of imperfect competition," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 75(4), pages 1181-1205, May.
  55. Britz, V. & Herings, P.J.J. & Predtetchinski, A., 2010. "Theory of the firm: bargaining and competitive equilibrium," Research Memorandum 057, Maastricht University, Maastricht Research School of Economics of Technology and Organization (METEOR).
  56. repec:hal:spmain:info:hdl:2441/10283 is not listed on IDEAS
  57. Kelsey, David & Milne, Frank, 1996. "The existence of equilibrium in incomplete markets and the objective function of the firm," Journal of Mathematical Economics, Elsevier, vol. 25(2), pages 229-245.
  58. Crès, Hervé & Tvede, Mich, 2009. "Production in incomplete markets: Expectations matter for political stability," Journal of Mathematical Economics, Elsevier, vol. 45(3-4), pages 212-222, March.
  59. Nicolas Caramp & Julian Kozlowski & Keisuke Teeple, 2022. "Liquidity and Investment in General Equilibrium," Working Papers 2022-022, Federal Reserve Bank of St. Louis, revised 07 Jun 2024.
  60. repec:hal:wpspec:info:hdl:2441/eu4vqp9ompqllr09ieq060086 is not listed on IDEAS
  61. Hervé Crès & Mich Tvede, 2011. "Production externalities: internalization by voting," SciencePo Working papers hal-00972983, HAL.
  62. Hervé Crès & Mich Tvede, 2001. "Proxy fights in incomplete markets: when majority voting and sidepayments are equivalent," SciencePo Working papers hal-01065004, HAL.
  63. repec:hal:wpspec:info:hdl:2441/10281 is not listed on IDEAS
  64. Hervé Crès & Mich Tvede, 2013. "Production externalities: internalization by voting," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 53(2), pages 403-424, June.
  65. Azar, José & Schmalz, Martin & Tecu, Isabel, 2017. "Anti-Competitive Effects of Common Ownership," IESE Research Papers D/1169, IESE Business School.
  66. Mich Tvede & Hervé Crès, 2001. "Voting in Assemblies of shareholders and Incomplete Markets," Sciences Po Economics Publications (main) hal-01064884, HAL.
  67. repec:spo:wpmain:info:hdl:2441/10281 is not listed on IDEAS
  68. repec:spo:wpecon:info:hdl:2441/eu4vqp9ompqllr09ieq060086 is not listed on IDEAS
  69. Dow,Gregory K., 2019. "The Labor-Managed Firm," Cambridge Books, Cambridge University Press, number 9781107589650, November.
  70. Ernst Maug & Bilge Yilmaz, "undated". "Two-Class Voting: A Mechanism for Conflict Resolution?," Rodney L. White Center for Financial Research Working Papers 04-00, Wharton School Rodney L. White Center for Financial Research.
  71. Thomas Renstrom & Erkan Yalcin, "undated". "Endogeneous Firm Objectives," Wallis Working Papers WP27, University of Rochester - Wallis Institute of Political Economy.
  72. VENTURA, Luigi, 1998. "Investment decisions and normalization with incomplete markets: a remark," LIDAM Discussion Papers CORE 1998028, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  73. repec:spo:wpecon:info:hdl:2441/10284 is not listed on IDEAS
  74. repec:hal:wpspec:info:hdl:2441/10282 is not listed on IDEAS
  75. Michael Zierhut, 2017. "Constrained efficiency versus unanimity in incomplete markets," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 64(1), pages 23-45, June.
  76. Hervé Crès & Mich Tvede, 2001. "Proxy fights in incomplete markets: when majority voting and sidepayments are equivalent," Sciences Po Economics Publications (main) hal-01065004, HAL.
  77. Guo, Wen-Chung & Tseng, Ping-Lun, 2023. "COVID-19, bank risk, and capital regulation: The aggregate shock and social distancing," The Quarterly Review of Economics and Finance, Elsevier, vol. 92(C), pages 155-173.
  78. repec:hal:spmain:info:hdl:2441/10267 is not listed on IDEAS
  79. Egbert Dierker & Hildegard Dierker & Birgit Grodal, 2006. "Are Incomplete Markets Able to Achieve Minimal Efficiency?," Studies in Economic Theory, in: Christian Schultz & Karl Vind (ed.), Institutions, Equilibria and Efficiency, chapter 7, pages 117-129, Springer.
  80. Ritzberger, Klaus, 2005. "Shareholder voting," Economics Letters, Elsevier, vol. 86(1), pages 69-72, January.
  81. Hervé Crès, 2000. "Majority Stable Production Equilibria: A Multivariate Mean Shareholders Theorem," Sciences Po Economics Publications (main) hal-01064883, HAL.
  82. repec:spo:wpecon:info:hdl:2441/10283 is not listed on IDEAS
  83. Malenko, Nadya & Levit, Doron & Maug, Ernst, 2021. "The voting premium," CEPR Discussion Papers 15718, C.E.P.R. Discussion Papers.
  84. repec:spo:wpecon:info:hdl:2441/10267 is not listed on IDEAS
  85. Katsushi Nakajima, 2022. "Equilibrium pricing of commodity spot and forward under incomplete markets with implications on convenience yield," Annals of Finance, Springer, vol. 18(1), pages 35-80, March.
  86. repec:hal:spmain:info:hdl:2441/eu4vqp9ompqllr09ieq060086 is not listed on IDEAS
  87. Egbert Dierker & Hildegard Dierker, 2012. "Ownership structure and control in incomplete market economies with transferable utility," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 51(3), pages 713-728, November.
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