Does CEO overconfidence matter for shareholders' wealth Evidence from the UK takeover market

2021 ◽  
Vol 12 (3) ◽  
pp. 266
Author(s):  
Chen Huang
Keyword(s):  
The Uk ◽  
2020 ◽  
Vol 8 (2) ◽  
pp. 450-484
Author(s):  
Joseph Lee ◽  
Yonghui Bao

Abstract The United Kingdom (UK) and China have launched the London–Shanghai Stock Connect Scheme to achieve an integrated capital market. In this article, the takeover market is used as an example to examine the extent to which regulatory alignment between the UK and China is possible. The focus is on the role of financial intermediaries in the two markets and how they may influence the governance model of the transfer of corporate control by an open offer to the shareholders of the target company (a takeover bid). This article argues that without regulatory alignment such an integrated market is unlikely to be realized. There are differences between the UK and China in the economic model, ownership structure, and institutional arrangements, which have been reflected in the differences in interests served by takeover law in the two regimes. The design of the framework for takeover law in the UK empowers financial market participants, so as to attract capital to the London markets. In contrast, China’s takeover law is mainly aimed at facilitating industrial restructuring and creating globally competitive national companies (national champions). Hence, the UK’s shareholder-centred takeover model, with a strong focus on financial intermediaries and international investors, would not be easily replicated in China. However, the UK model could provide lessons for China to develop its takeover market—that is, further its market structure reform, develop independent financial intermediaries, and also attract an increasing number of investors.


2000 ◽  
Vol 111 (1) ◽  
pp. 78-90 ◽  
Author(s):  
C. R. M. Hay ◽  
T. P. Baglin ◽  
P. W. Collins ◽  
F. G. H. Hill ◽  
D. M. Keeling

2006 ◽  
Vol 175 (4S) ◽  
pp. 476-477
Author(s):  
Freddie C. Hamdy ◽  
Joanne Howson ◽  
Athene Lane ◽  
Jenny L. Donovan ◽  
David E. Neal

2006 ◽  
Vol 175 (4S) ◽  
pp. 210-210
Author(s):  
◽  
Freddie C. Hamdy ◽  
Athene Lane ◽  
David E. Neal ◽  
Malcolm Mason ◽  
...  
Keyword(s):  

2003 ◽  
Vol 2 (1) ◽  
pp. 131
Author(s):  
A ZAPHIRIOU ◽  
S ROBB ◽  
G MENDEZ ◽  
T MURRAYTHOMAS ◽  
S HARDMAN ◽  
...  

Crisis ◽  
2014 ◽  
Vol 35 (4) ◽  
pp. 268-272
Author(s):  
Sean Cross ◽  
Dinesh Bhugra ◽  
Paul I. Dargan ◽  
David M. Wood ◽  
Shaun L. Greene ◽  
...  

Background: Self-poisoning (overdose) is the commonest form of self-harm cases presenting to acute secondary care services in the UK, where there has been limited investigation of self-harm in black and minority ethnic communities. London has the UK’s most ethnically diverse areas but presents challenges in resident-based data collection due to the large number of hospitals. Aims: To investigate the rates and characteristics of self-poisoning presentations in two central London boroughs. Method: All incident cases of self-poisoning presentations of residents of Lambeth and Southwark were identified over a 12-month period through comprehensive acute and mental health trust data collection systems at multiple hospitals. Analysis was done using STATA 12.1. Results: A rate of 121.4/100,000 was recorded across a population of more than half a million residents. Women exceeded men in all measured ethnic groups. Black women presented 1.5 times more than white women. Gender ratios within ethnicities were marked. Among those aged younger than 24 years, black women were almost 7 times more likely to present than black men were. Conclusion: Self-poisoning is the commonest form of self-harm presentation to UK hospitals but population-based rates are rare. These results have implications for formulating and managing risk in clinical services for both minority ethnic women and men.


2016 ◽  
Vol 37 (2) ◽  
pp. 105-111 ◽  
Author(s):  
Adrian Furnham ◽  
Helen Cheng

Abstract. This study used a longitudinal data set of 5,672 adults followed for 50 years to determine the factors that influence adult trait Openness-to-Experience. In a large, nationally representative sample in the UK (the National Child Development Study), data were collected at birth, in childhood (age 11), adolescence (age 16), and adulthood (ages 33, 42, and 50) to examine the effects of family social background, childhood intelligence, school motivation during adolescence, education, and occupation on the personality trait Openness assessed at age 50 years. Structural equation modeling showed that parental social status, childhood intelligence, school motivation, education, and occupation all had modest, but direct, effects on trait Openness, among which childhood intelligence was the strongest predictor. Gender was not significantly associated with trait Openness. Limitations and implications of the study are discussed.


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