Download or read book An Empirical Study of the Efficiency of Security Substitution by Holding Companies written by H. Daems and published by . This book was released on 1976 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book An Empirical Study of the Efficiency of Security Substitution by Holding Companies written by H. Daems and published by . This book was released on 1977 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The holding company and corporate control written by Herman P. Daems and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 153 pages. Available in PDF, EPUB and Kindle. Book excerpt: 1. Research subject and objectives This study focuses on an economic institution, the large industrial holding company, which continues to hold a prominent if not a strategic position in the resource allocation process in many industrialised market economies. Powerful multicompany combines like the famous Japanese zaibatsu and the less familiar but equally powerful European industrial groups rely on the institution of the holding company to tie their intermarket control network together. Two general questions arise from this situation: first, what factors account for the viability and growth within a market setting of those institutions which internalise allocation decisions and, second, what effect do such institutions have on resource allocation? These questions provide the framework in which the proper research subject can be most adequately introduced. Before doing so, it is crucial to point out that the holding company institution, as analyzed in subsequent chapters, should not be confounded with the legal constructs, bearing the same generic name and flourishing in fiscal paradises, whose sole function is to organise tax evasion across national boundaries. The institution, as studied here, is the large holding company through which industrial groups manage multicompany systems. Such multicompany systems, operating an intermarket network by means of holding companies, continue to be more typical for Europe and Japan than for the United States where, for legal reasons, but also because of managerial efficiency, the multicompany system built around the holding company institution was rather short-lived and 1 the giant integrated multiunit enterprise rose to dominance instead.
Download or read book The Efficiency of Security Substitution by Diversified Holding Companies in Belgium written by Alain Praet and published by . This book was released on 2002 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: Diversified holding companies play a dominant role on the Belgian capital market. They buy controlling stakes in a large number of companies and achieve a security substitution for the shareholder of the holding company. To evaluate the efficiency of this security substitution I compare a sample of 52 firms with a matching sample of family-owned firms. I find that the family-owned firms perform significantly better than the subsidiaries of holding companies but no difference in investment behavior or total debt level. The sample firms rely much more on short term financing though and depend less on their own cash flow for their investments which confirms the creation of an internal capital market. To verify whether these results obtained can be attributed to earnings management or diversification, I compose a second matching sample of firms controlled by industrial listed firms. I find support for the diversification hypothesis since only subsidiaries of focused firms perform better. So the industrial focused firm, that relies more on intra-group financing and trading activity, seems a more appropriate organizational form than the diversified holding company.
Download or read book An Empirical Investigation of the Distribution of Stock market Prices and Weak form Efficiency of the Brussels Stock Exchange written by Baldomero V. Regidor and published by . This book was released on 1979 with total page 546 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Journal of Economic Literature written by and published by . This book was released on 1977 with total page 924 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Key to Economic Science written by and published by . This book was released on 1977 with total page 1084 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book European Equity Markets written by Gabriel A. Hawawini and published by . This book was released on 1984 with total page 204 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Dokumentationsbulletin written by and published by . This book was released on 1983 with total page 378 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Index of Economic Articles in Journals and Collective Volumes written by and published by . This book was released on 1980 with total page 856 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Holding Company and Corporate Control written by Herman Daems and published by Springer. This book was released on 1978-07-31 with total page 164 pages. Available in PDF, EPUB and Kindle. Book excerpt: 1. Research subject and objectives This study focuses on an economic institution, the large industrial holding company, which continues to hold a prominent if not a strategic position in the resource allocation process in many industrialised market economies. Powerful multicompany combines like the famous Japanese zaibatsu and the less familiar but equally powerful European industrial groups rely on the institution of the holding company to tie their intermarket control network together. Two general questions arise from this situation: first, what factors account for the viability and growth within a market setting of those institutions which internalise allocation decisions and, second, what effect do such institutions have on resource allocation? These questions provide the framework in which the proper research subject can be most adequately introduced. Before doing so, it is crucial to point out that the holding company institution, as analyzed in subsequent chapters, should not be confounded with the legal constructs, bearing the same generic name and flourishing in fiscal paradises, whose sole function is to organise tax evasion across national boundaries. The institution, as studied here, is the large holding company through which industrial groups manage multicompany systems. Such multicompany systems, operating an intermarket network by means of holding companies, continue to be more typical for Europe and Japan than for the United States where, for legal reasons, but also because of managerial efficiency, the multicompany system built around the holding company institution was rather short-lived and 1 the giant integrated multiunit enterprise rose to dominance instead.
Download or read book Bulletin de renseignements documentaires written by and published by . This book was released on 1983 with total page 630 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Financing Energy Efficiency written by Robert P. Taylor and published by World Bank Publications. This book was released on 2008-02-08 with total page 306 pages. Available in PDF, EPUB and Kindle. Book excerpt: While energy efficiency projects could partly meet new energy demand more cheaply than new supplies, weak economic institutions in developing and transitional economies impede developing and financing energy efficiency retrofits. This book analyzes these difficulties, suggests a 3-part model for projectizing and financing energy efficiency retrofits, and presents thirteen case studies to illustrate the issues and principles involved.
Download or read book Tijdschrift voor economie en management written by and published by . This book was released on 1976 with total page 658 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Bollettino di documentazione A written by and published by . This book was released on 1977 with total page 536 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Federal Reserve System Purposes and Functions written by Board of Governors of the Federal Reserve System and published by . This book was released on 2002 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Provides an in-depth overview of the Federal Reserve System, including information about monetary policy and the economy, the Federal Reserve in the international sphere, supervision and regulation, consumer and community affairs and services offered by Reserve Banks. Contains several appendixes, including a brief explanation of Federal Reserve regulations, a glossary of terms, and a list of additional publications.
Download or read book Efficiency and Anomalies in Stock Markets written by Wing-Keung Wong and published by Mdpi AG. This book was released on 2022-02-17 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Efficient Market Hypothesis believes that it is impossible for an investor to outperform the market because all available information is already built into stock prices. However, some anomalies could persist in stock markets while some other anomalies could appear, disappear and re-appear again without any warning. A Special Issue on "Efficiency and Anomalies in Stock Markets" will be devoted to advancements in the theoretical development of market efficiency and anomaly in the Stock Market, as well as applications in Stock Market efficiency and anomalies.
