Recent evidence on financial structures within firms suggests that concentrated ownership in the form of several large shareholders, rather than dispersed ownership, is the norm. This is puzzling given that often the stakes are too big for optimal diversification and too small to guarantee control. This paper attempts to provide an explanation. We consider a setting where multiple shareholders ...

The subject matter of the article is analysis institution resignation a shareholder in simple joint-stock company. author considers introduction an granting right to exit company as justified. It may form instrument for protection interests (usually minority them), which on one hand are marginalized by other shareholders majority), and find it impossible (due legal or actual grounds) dispose th...

We consider a simple model of a firm acting strategically on behalf of its shareholders. The price normalization problem arising in general equilibrium models of imperfect competition is overcome by using the concept of real wealth maximization. This concept is based on shareholders’ aggregate demand and does not involve any comparison of utility profiles that shareholders can possibly obtain. ...

Proof of Lemma A.1: The shareholder’s bene…t from voting for the proposal depends on his beliefs about the state of the world. Since !g > !b, other shareholders’ votes are informative about their signals and could be used to update the shareholder’s beliefs. However, when voting, the shareholder does not observe the votes of other shareholders and therefore has to consider N possible situations...

introduction: hanging is one of the most commonly used way to commit suicide in many countries. this method used in suicide is considered a problem in iran too, but no clear data exists regarding hanging in different regions or the country as a whole. because of the epidemiologic differences in non-judicial hanging in different regions, this study aimed to assess it in gilan province, iran betw...

objective: there have been concerns about people with mental health problems experiencing harassment in the iranian community. this study measures the prevalence and nature of harassment experienced by individuals with mental health problems and compares them with the general population. methods : face to face interviews were conducted by trained interviewers to ascertain experiences of harassm...