1,721,022 research outputs found
Capital markets and corporate governance standards
No full textCorporate governance has moved over time from a peripheral to a central issue for capital markets regulation. In this chapter we focus on the evolution of the relationship between corporate governance and listing rules in the UK. We approach the relationship between listing rules and corporate governance by focusing on three key interactions. The first is the interaction between listing rules and the UK Corporate Governance Code, which in its origins was a form of soft law. The second is the impact of listing rules on the balance of power between shareholders and directors. The third is the impact of listing rules on the role of controlling shareholders and the protection of minority shareholders. We evaluate the nature and effect of the relevant provisions of the listing rules and the extent to which they adjust the default provisions of UK corporate law
Finding an alternative to IPOs: direct listing and SPACs
No full textThis chapter highlights the relentless decline of listed companies in European markets and, at the same time, the increase in the number of alternative tools. Among all of them, direct listing and SPACs, which represented a glimmer of hope for the markets even during the pandemic period, are examined in greater detail. In relation to SPACs, their historical evolution is described thoroughly, including from a comparative perspective, and so their dominant role in the markets, especially in 2020. In conjunction with some market data that enable us to understand their importance and functioning, a special attention is paid to the litigation aspects that the latest developments deriving from their greater diffusion generated. Given how recent the issues brought to the reader's attention are and how composite the regulatory framework is on both shores of the Atlantic and, as a result of Brexit, even on both banks of the Channel, the most recent regulatory developments in continental Europe (with the intervention of ESMA) and in the United Kingdom (with that of the Financial Conduct Authority) will also be addressed
Regulating issuers’ disclosure of inside information: the diverging approaches in the European Union and the United States
No full textCapital markets regulation in the European Union and in the United States has progressively
converged in a variety of areas. Lawmakers in the two legal systems recognize the vital importance
of investor protection and transparency for the correct functioning of the financial markets and
have adopted legal instruments to increase market efficiency that are often based on common
grounds. Nevertheless, disclosure obligations on material corporate information continue to
show differences on either side of the Atlantic, and corporate compliance in that respect is
based on different rules for US and for EU companies
Going Beyond Counting First Authors in Author Co-citation Analysis
Full text linkThe present study examines one of the fundamental aspects of author co-citation analysis (ACA) - the way co-citation
counts are defined. Co-citation counting provides the data on which all subsequent statistical analyses and mappings
are based, and we compare ACA results based on two different types of co-citation counting - the traditional type that
only counts the first one among a cited work's authors on the one hand and a non-traditional type that takes into
account the first 5 authors of a cited work on the other hand. Results indicate that the picture produced through this non-traditional author co-citation counting contains more coherent author groups and is therefore considerably clearer. However, this picture represents fewer specialties in the research field being studied than that produced through the traditional first-author co-citation counting when the same number of top-ranked authors is selected and analyzed. Reasons for these effects are discussed
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