Analysis of corporate control: can the voting power index outshine shareholding size?
Shareholding size is a poor proxy for corporate control. At best it reflects an investor’s wealth relative to other shareholders and, most importantly, the distribution of rights to a company’s worth and the related exposure to risk. Shareholding size does not actually show an investor’s strength in...
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Universiti Sains Malaysia
2014
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Online Access: | http://eprints.utm.my/id/eprint/51831/1/ShantiChkravarty2014_AnalysisOfCorporateControl.pdf http://eprints.utm.my/id/eprint/51831/ https://www.scopus.com/record/display.uri?eid=2-s2.0-84912012097&origin=inward&txGid=4411C647FAB39BD057AC956695B1196C.wsnAw8kcdt7IPYLO0V48gA%3a534 |
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my.utm.518312018-08-27T03:41:20Z http://eprints.utm.my/id/eprint/51831/ Analysis of corporate control: can the voting power index outshine shareholding size? Hafiz Bajuri, Norkhairul Chakravarty, Shanti Hashim, Noor Hazarina HD Industries. Land use. Labor Shareholding size is a poor proxy for corporate control. At best it reflects an investor’s wealth relative to other shareholders and, most importantly, the distribution of rights to a company’s worth and the related exposure to risk. Shareholding size does not actually show an investor’s strength in corporate control. As an alternative, this paper espouses the merits of the voting power concept and promotes two indices associated with it: the Penrose-Banzhaf index and the Shapley-Shubik index. This paper further introduces a new framework that compares the strength of corporate control against the size of corporate shareholding. Illustrating this idea using a group of government-linked companies (GLCs), this study yielded two possible ways in which the government can consolidate its control Universiti Sains Malaysia 2014 Article PeerReviewed application/pdf en http://eprints.utm.my/id/eprint/51831/1/ShantiChkravarty2014_AnalysisOfCorporateControl.pdf Hafiz Bajuri, Norkhairul and Chakravarty, Shanti and Hashim, Noor Hazarina (2014) Analysis of corporate control: can the voting power index outshine shareholding size? Asian Academy of Management Journal of Accounting and Finance, 10 (1). pp. 75-94. ISSN 1823-4992 https://www.scopus.com/record/display.uri?eid=2-s2.0-84912012097&origin=inward&txGid=4411C647FAB39BD057AC956695B1196C.wsnAw8kcdt7IPYLO0V48gA%3a534 |
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HD Industries. Land use. Labor Hafiz Bajuri, Norkhairul Chakravarty, Shanti Hashim, Noor Hazarina Analysis of corporate control: can the voting power index outshine shareholding size? |
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Shareholding size is a poor proxy for corporate control. At best it reflects an investor’s wealth relative to other shareholders and, most importantly, the distribution of rights to a company’s worth and the related exposure to risk. Shareholding size does not actually show an investor’s strength in corporate control. As an alternative, this paper espouses the merits of the voting power concept and promotes two indices associated with it: the Penrose-Banzhaf index and the Shapley-Shubik index. This paper further introduces a new framework that compares the strength of corporate control against the size of corporate shareholding. Illustrating this idea using a group of government-linked companies (GLCs), this study yielded two possible ways in which the government can consolidate its control |
format |
Article |
author |
Hafiz Bajuri, Norkhairul Chakravarty, Shanti Hashim, Noor Hazarina |
author_facet |
Hafiz Bajuri, Norkhairul Chakravarty, Shanti Hashim, Noor Hazarina |
author_sort |
Hafiz Bajuri, Norkhairul |
title |
Analysis of corporate control: can the voting power index outshine shareholding size? |
title_short |
Analysis of corporate control: can the voting power index outshine shareholding size? |
title_full |
Analysis of corporate control: can the voting power index outshine shareholding size? |
title_fullStr |
Analysis of corporate control: can the voting power index outshine shareholding size? |
title_full_unstemmed |
Analysis of corporate control: can the voting power index outshine shareholding size? |
title_sort |
analysis of corporate control: can the voting power index outshine shareholding size? |
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Universiti Sains Malaysia |
publishDate |
2014 |
url |
http://eprints.utm.my/id/eprint/51831/1/ShantiChkravarty2014_AnalysisOfCorporateControl.pdf http://eprints.utm.my/id/eprint/51831/ https://www.scopus.com/record/display.uri?eid=2-s2.0-84912012097&origin=inward&txGid=4411C647FAB39BD057AC956695B1196C.wsnAw8kcdt7IPYLO0V48gA%3a534 |
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13.18916 |