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Full-Text Articles in Law
Dual-Class Shares In Singapore – Where Ideology Meets Pragmatism, Pey Woan Lee
Dual-Class Shares In Singapore – Where Ideology Meets Pragmatism, Pey Woan Lee
Research Collection Yong Pung How School Of Law
This article seeks to understand the rationale for and potential implications of the introduction of dual class shares (DCS) in Singapore. It does so by first considering the theoretical as well as evidential arguments for and against the use of DCS, followed by a survey on the reception (or otherwise) of such structures in four common law jurisdictions with vibrant capital markets, viz., Canada, the United States, United Kingdom and Hong Kong. It observes that the chief argument cited by business founders to justify the use of DCS structures is the desire to enhance a firm’s long-term profitability by shielding …
Shareholder Litigation And Corporate Disclosure: Evidence From Derivative Lawsuits, Thomas Bourveau, Yun Lou, Rencheng Wang
Shareholder Litigation And Corporate Disclosure: Evidence From Derivative Lawsuits, Thomas Bourveau, Yun Lou, Rencheng Wang
Research Collection School Of Accountancy
Using the staggered adoption of universal demand (UD) laws in the United States, we study the effect of shareholder litigation risk on corporate disclosure. We find that disclosure significantly increases after UD laws make it more difficult to file derivative lawsuits. Specifically, firms issue more earnings forecasts and voluntary 8-K filings, and increase the length of management discussion and analysis (MD&A) in their 10-K filings. We further assess the direct and indirect channels through which UD laws affect firms' disclosure policies. We find that the effect of UD laws on corporate disclosure is driven by firms facing relatively higher ex …
Reframing The Board Diversity Issue: Set 25 By 25 Target, Themin Suwardy, Surianarayanan Gopalakrishnan
Reframing The Board Diversity Issue: Set 25 By 25 Target, Themin Suwardy, Surianarayanan Gopalakrishnan
Research Collection School Of Accountancy
Studies have shown there is clear association between aboard's gender diversity and company performance. Yet Singapore has been softerthan usual in pushing the agenda. In this commentary, the authors discussed theimportance of setting an explicit hard target with a fixed deadline to reframeboard diversity in Singapore.