Does ownership concentration improve M&A outcomes in emerging markets?

Does employee ownership improve performance?

Employee ownership is linked to better company performance on average. Employee ownership companies have more stability, higher survival rates, and fewer layoffs in recessions, potentially leading to lower unemployment in the overall economy. Employer stock tends to come on top of, rather than substitute for, regular employee compensation, and thereby adds to pay and wealth in general. The broa...

Family-Concentrated Ownership in Chinese PLCs: Does Ownership Concentration Always Enhance Corporate Value?

In this paper we investigate the relationship between family ownership structure and corporate value across a sample of 1314 firm-year observations of China’s family publicly listed companies (PLCs), from 2004 to 2008. We find a significant inverse-U-shaped relationship between the controlling family’s ultimate cash-flow rights and corporate value; as measured by Tobin’s Q. That is, as family-o...

Using Baseline Models to Improve Theories about Emerging Markets

Long Memory in Stock Returns: A Study of Emerging Markets

The present study aimed at investigating the existence of long memory properties in ten emerging stock markets across the globe. When return series exhibit long memory, it indicates that observed returns are not independent over time. If returns are not independent, past returns can help predict future returns, thereby violating the market efficiency hypothesis. It poses a serious challenge to ...

When recanalization does not improve clinical outcomes.

See related article, pages 2761–2768. Treatment of ischemic stroke is intuitively simple with fast recanalization of blood vessels being the goal. However, this is frequently easier in theory than in practice. That is why there is some optimism in the stroke community regarding novel devices (eg, MERCI retriever system,1,2 Penumbra catheter,3 balloon angioplasty, and so on) for revascularizing ...