Shareholder Protection, Stock Markets and Cross-Border Mergers

Centre for Business Research, University of Cambridge Working Paper no. 509

10 Pages Posted: 16 Aug 2018

See all articles by Frederick Ahiabor

Frederick Ahiabor

De Montfort University; Loughborough University

Gregory James

De Montfort University

Frank Kwabi

De Montfort University

Mathias Siems

European University Institute (EUI); Durham University

Date Written: August 3, 2018

Abstract

This paper is the first one that uses a panel data of different types of shareholder protection in order to examine (i) the effect of such laws on stock market development and (ii) the convergence of shareholder protection laws through cross-border mergers and acquisitions. We find significant results for enabling laws but less so for paternalistic ones.

Keywords: law and finance, shareholder protection, corporate governance, corporate finance

JEL Classification: G32, K22, N20, O16, P50

Suggested Citation

Ahiabor, Frederick and James, Gregory and Kwabi, Frank and Siems, Mathias, Shareholder Protection, Stock Markets and Cross-Border Mergers (August 3, 2018). Centre for Business Research, University of Cambridge Working Paper no. 509. Available at SSRN: https://ssrn.com/abstract=3225681 or http://dx.doi.org/10.2139/ssrn.3225681

Frederick Ahiabor

De Montfort University ( email )

The Gateway
Leicester, LE1 9BH
United Kingdom

HOME PAGE: http://dmu.ac.uk/about-dmu/academic-staff/business-and-law/frederick-ahiabor/frederick-s.-ahiabor.as

Loughborough University ( email )

Epinal Way
Leics LE11 3TU
Leicestershire
United Kingdom

Gregory James

De Montfort University ( email )

The Gateway
Leicester, LE1 9BH
United Kingdom

Frank Kwabi

De Montfort University ( email )

The Gateway
Leicester, LE1 9BH
United Kingdom

Mathias Siems (Contact Author)

European University Institute (EUI) ( email )

Via Bolognese 156 (Villa Salviati)
Firenze, 50139
Italy

HOME PAGE: http://www.eui.eu/siems

Durham University ( email )

Stockton Road
Durham, County Durham DH1 3LE
United Kingdom

HOME PAGE: http://www.dur.ac.uk/mathias.siems

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