SLIDE 1
Shareholder Protection in Ten Countries 1990 - 2012
Source: Law, Finance and Development Project, University of Cambridge
Rights and Responsibilities Colin Mayer Shareholder Protection in - - PowerPoint PPT Presentation
Rights and Responsibilities Colin Mayer Shareholder Protection in - - PowerPoint PPT Presentation
Corporate Governance: Rights and Responsibilities Colin Mayer Shareholder Protection in Ten Countries 1990 - 2012 Source: Law, Finance and Development Project, University of Cambridge Shareholder Protection Germany, Japan and UK 1900-1990
SLIDE 2
SLIDE 3
Shareholder Protection Germany, Japan and UK 1900-1990
Japan UK Germany 1900 1990 Year law/rules changed 1900 1990 1900 1990 Anti-director rights 1 4 1950,1974 1 5 1 1 Liabilities standard 0.667 1948 0.667 Disclosure 0.917 1948 0.833 0.417 Public enforcement 0.658 1948 0.750 <0.25 0.25 Creditor rights 3 1 1952 NA 4 NA 3
Source: Franks, Mayer and Miyajima (2014)
SLIDE 4
- No. Listed Companies in Germany, UK and US
and Globally per Million Population, 1990 -2012
Source: Franks, Mayer and Wagner (2016)
SLIDE 5
New Listings and Delistings in UK, 1999-2012
50 100 150 200 250 300 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Annual New Listings Annual Delistings
Source: Franks, Mayer and Wagner (2016)
SLIDE 6
Ownership of UK Listed Companies, 1963-2010
Source: Franks, Mayer and Wagner (2016)
SLIDE 7
Ownership Listed Companies, France, Germany, Italy and UK, 1996 and 2006
2006 1996 Source: Franks, Mayer, Volpin and Wagner (2012)
SLIDE 8
Proportion of German Firms with Blockholder > 25% of Shares, 1990, 2009 and 2014
1990 2009 2014 Source: Franks, Mayer and Wagner (2016)
SLIDE 9
Privately Controlled Publicly Listed Company – (PCPLC Mark 1)
Holderness (2009)
SLIDE 10
The Publicly Controlled Publicly Listed Company- (PCPLC Mark 2)
Nachemson-Ekwall (2016)
SLIDE 11
PCPLC (Mark 2)
Robert Eccles, Ioannis Ioannou and George Serafim (2011)