Corporate governance and state expropriation risk

Col, Burcin; Errunza, Vihang R.

doi:10.1016/j.jcorpfin.2015.04.005

Cited by 28 publications

(8 citation statements)

References 35 publications

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“…Legal advocacy has also been unthinkable for the expropriated farmers. Similar to this study, several researchers have highlighted major problems in the asset inventory and valuation process in Ethiopia, but also in other countries [7,43,[63][64][65][66].…”

Section: Expropriation and Compensation: The Law And The Practicesupporting

confidence: 66%

Assessing the Impacts of Expropriation and Compensation on Livelihood of Farmers: The Case of Peri-Urban Debre Markos, Ethiopia

Dires

Fentie

Hunie

et al. 2021

Land

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In Ethiopia, expropriation and compensation measures have become a great concern due to horizontal urban expansion and development induced projects. Especially in peri-urban areas, the livelihood of farmers is affected by expropriation without fair and comparable compensation. This paper investigates the impacts of expropriation and compensation activities on livelihood of peri-urban smallholders taking Debre Markos Town as a case study area. Mixed research methods were employed. Quantitative data were gathered using a structured questionnaire and by interviewing about 100 smallholders. Qualitative data were collected in focus group discussions and by analyzing legal documents. The analysis showed a high trend of expropriation without fair and appropriate compensation as result of ignoring legal procedures of expropriation and compensation. Expropriated farmers also complained that they did not get any support from the government to use compensation money properly for further investments. Due to incomparable compensation and lack of advice, peri-urban farmers faced multi-faceted problems, such as food insecurity and social and family disintegration. The government has to enable families of expropriated households to earn suitable livelihood, which could be achieved by fair compensation and appropriate guidance.

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Section: Expropriation and Compensation: The Law And The Practicesupporting

confidence: 66%

Assessing the Impacts of Expropriation and Compensation on Livelihood of Farmers: The Case of Peri-Urban Debre Markos, Ethiopia

Dires

Fentie

Hunie

et al. 2021

Land

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“…We believe that the premium in mergers and acquisitions may also depend on the country of the deal. Quite close factors are described in the Col and Errunza study [13]. The authors draw attention to the fact that political risks associated with the seizure of property are an essential factor determining the reaction to mergers and acquisitions.…”

Section: Literature Review and Hypothesesmentioning

confidence: 99%

Premium evaluation in mergers and acquisitions of electricity companies

Sterkhov

2019

КФ

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The purpose of the article is to build a model for estimating the relative premium in mergers and acquisitions of electric power companies, based on four groups of factors: the company's operating and financial results, the country affiliation, the industry affiliation, the debt market conjuncture. The research methodology is based on a comparative business valuation method. The empirical base of the research includes data on 6504 deals that occurred throughout the world from 1997 to 2018. The research database includes data on both public and non-public companies for which the amount paid in the deal is known, as well as the value of total assets. The scientific novelty consists in clarifying the conceptual apparatus (the concept of relative premium in a deal has been introduced); the selection and grouping of factors affecting the size of the relative premium; identifying and quantifying the influence of variables included in each group of factors. The article proposed the author's approach to the grouping of countries and industries, based on the equality of premium coefficients in the regression and obtained groups of countries and industries with equal premiums. It is shown that the grouping of industries, obtained by the mathematical algorithm, almost completely corresponds to the industry structure of the electric power industry. The coefficient of determination of the final econometric model is more than 20 per cent, which can be estimated as a high-quality assessment. That is because the relative premium, not the amount paid in the deal, is predicted which is in close correlation with the value of the company's assets. The practical significance of the research study consists in the possibility of predicting the value of a business, as well as determining the value paid in a deal in cases where such information is not available in available sources.

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“…Важность анализа макроэкономических факторов также вытекает из исследований Boateng [5,6] и Bonaime [7]. Авторы работы [6] приходят к выводу, что макроэкономические факторы являются существенной переменной, определяющей поведение фирм при слияниях и поглощениях.…”

Section: Introductionunclassified

“…Авторы работы [6] приходят к выводу, что макроэкономические факторы являются существенной переменной, определяющей поведение фирм при слияниях и поглощениях. В исследовании [7] подчеркивается, что политические факторы определяют интенсивность слияний и поглощений в конкретной стране: более высокий уровень политической нестабильности означает более низкую интенсивность слияний и поглощений.…”

Section: Introductionunclassified

“…Довольно близкие факторы описаны в исследовании Col [7]. Авторы обращают внимание на то, что политические риски, связанные с конфискацией имущества, являются важным фактором, определяющим реакцию на слияния и поглощения.…”

Section: Introductionunclassified

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Premium Evaluation in Mergers and Acquisitions of Electric Power Companies With Due Regard to Political Factors

Sterkhov¹,

Просвирина²

2019

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Стерхов А.В., Просвирина И.И. Формирование премии в сделках слияний и поглощений электроэнергетических компаний с учетом политических факторов Вестник ЮУрГУ. Серия «Экономика и менеджмент». 2019. Т. 13, № 4. С. 80-87 Стерхов А.В., Просвирина И.И. Формирование премии в сделках слияний и поглощений электроэнергетических компаний с учетом политических факторов

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Corporate governance and state expropriation risk

Cited by 28 publications

References 35 publications

Assessing the Impacts of Expropriation and Compensation on Livelihood of Farmers: The Case of Peri-Urban Debre Markos, Ethiopia

Assessing the Impacts of Expropriation and Compensation on Livelihood of Farmers: The Case of Peri-Urban Debre Markos, Ethiopia

Premium evaluation in mergers and acquisitions of electricity companies

Premium Evaluation in Mergers and Acquisitions of Electric Power Companies With Due Regard to Political Factors

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