This study aims to examine the spillover effect of right offerings to the industry on the Indonesian Stock Exchange in the period 2009-2016. This study is designed using event study methodology. In ...total, there are 96 issuing companies (issuers) and 1205 non-issuing companies (non-issuers) used as the sample which was obtained using a purposive sampling technique. The test for information content on the right issues was conducted using standard t-test on the average cumulative abnormal return of issuers and non-issuers in the period t-10 to t+10 around the issuance. The research found positive abnormal returns for issuers in t0 to t+4 but did not confirm the spillover effect to non-issuers over the observed (window) periods. The average cumulative abnormal returns are randomly distributed during the window period. These results confirm the absence of intraindustry effect of right issues on the non-issuers’ performance
The mandatory bid rule (MBR), one of the basic tenets of takeover regulation, obligates an acquirer who obtains 'control' over a target company to make an offer to acquire the shares of the remaining ...shareholders. What amounts to 'control' is far from clear; some jurisdictions follow a quantitative approach based on a specific shareholding threshold such as 30% voting rights, while others follow a qualitative approach through a subjective determination based on several factors, such as the specific rights available to an acquirer under a shareholders' agreement or the constitutional documents of a target.
The goal of this article is to consider the merits and demerits of these approaches. It seeks to do so by examining various models adopted in jurisdictions for pegging 'control' so as to invoke the MBR. It delves into the regulatory experience in India as that jurisdiction not only adopts a combined approach (taking into account both the quantitative and qualitative tests for control), but has also been subject to a great deal of controversy and litigation in recent years that have helped tease out the jurisprudential contours of the concept. It concludes with a normative assessment that points towards partial harmonisation.
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The mandatory bid rule (MBR), one of the basic tenets of takeover regulation, obligates an acquirer who obtains 'control' over a target company to make an offer to acquire the shares of the remaining ...shareholders. What amounts to 'control' is far from clear; some jurisdictions follow a quantitative approach based on a specific shareholding threshold such as 30% voting rights, while others follow a qualitative approach through a subjective determination based on several factors, such as the specific rights available to an acquirer under a shareholders' agreement or the constitutional documents of a target. The goal of this article is to consider the merits and demerits of these approaches. It seeks to do so by examining various models adopted in jurisdictions for pegging 'control' so as to invoke the MBR. It delves into the regulatory experience in India as that jurisdiction not only adopts a combined approach (taking into account both the quantitative and qualitative tests for control), but has also been subject to a great deal of controversy and litigation in recent years that have helped tease out the jurisprudential contours of the concept. It concludes with a normative assessment that points towards partial harmonisation.
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Eine Reihe bedeutender Entwicklungen der letzten Jahre gibt Anlass, die Regelungssysteme des Aktionärsstimmrechts in der Europäischen Union einer kritischen Würdigung zu unterziehen und der Frage ...nach der Möglichkeit effektiver grenzüberschreitender Stimmrechtsausübung nachzugehen. Die vorliegende Arbeit vergleicht die aktuellen Regelungssysteme des Aktionärsstimmrechts im Recht der deutschen Aktiengesellschaft, der französischen Société Anonyme und der britischen Public Limited Company. Ziel der Untersuchung ist es, bestehende Hindernisse für eine effektive grenzüberschreitende Stimmrechtsausübung in der Europäischen Union herauszuarbeiten und mögliche Perspektiven für eine Harmonisierung in diesem Bereich aufzuzeigen.
AusBiotech Investment offers a comprehensive series of national and international investor events as a global platform for Australian life sciences companies to showcase their company's offering for ...partnership and investment.
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AusBiotech Investment offers a comprehensive series of national and international investor events as a global platform for Australian life sciences companies to showcase their company's offering for ...partnership and investment.
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The main purpose of this article is to scrutinize the opportunities married women had to administer their inheritance and reversions compared to widows' opportunities to administer their inheritance, ...dower and share from the former marriage. It has been claimed that medieval women had to wait until they were widowed to take charge over their own property. In this article I challenge this view. I argue that a noble woman's opportunities to act independently depended on the origins of the property she wanted to sell, and if male representatives from that family laid claim to the land or not.
I investigate all written transactions carried out by freeholders and transactions carried out by noble families in two different regions in present-day Sweden during the period from 1300 to 1500. I establish in what type of transactions the women stood as sole executors in the charters, and if they were named as wives or as widows. I also investigate if they participated in varied forms of transactions when widowed compared to when they were in marriage.
The principal result is that the wife of a freeholder did not execute deeds herself. This was done by her husband or, when she was young, by her brother. It was extremely rare that a woman of this status administered her inheritance herself, due to the stronger pre-emptive rights for men besides the brother in Jämtland. As wealthy widows, however, women in this position sometimes executed deeds, presumably because their brothers were dead. Noble women administered their property more frequently. Their pre-emptive rights were stronger and they therefore had more property to dispose of. In the absence of men from the noble family from where the land originated, noble women could act independently, irrespective of if they were widows or wives.
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Globalization has made possible the Ahmadinejad effect, where minor actors on the world stage can rise to prominence and solidify their power base at home by posing realistic threats to the security ...of even distant lands. The case of Ahmadinejad, as with Saddam Hussein before, raises the issue of pre-emptive duties (and rights), what is owed to others toward upholding rights that could be threatened sometime in the future. Pre-emptive duties and rights are given importance based on psychological assumptions about how people would behave if certain conditions were to come about. For example, checks and balances in the United States constitution are intended to prevent the concentration of power, on the assumption, supported by recent psychological research, that ‘‘power corrupts.’’ The concentration of power in the United States at the global level, and in the executive branch of the American government during the presidency of George W. Bush, seems to reflect this demonstrated tendency.
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10.
An update on pre-emptive rights Emma McLeod
Australian resources and energy law journal,
12/2015, Volume:
34, Issue:
3
Journal Article
Pre-emptive rights clauses require careful drafting, and notices under them must comply strictly with procedures agreed upon. Where parts of a notice are invalid, if the part cannot be severed from ...the notice, the whole notice fails. This decision is a reminder of the care needed in drafting and in complying with pre-emptive rights clauses.
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