Founders without limits : dual-class stock and the premium tier of the London Stock Exchange
著者
書誌事項
Founders without limits : dual-class stock and the premium tier of the London Stock Exchange
(International corporate law and financial market regulation)
Cambridge University Press, 2021
- : hardback
大学図書館所蔵 全2件
  青森
  岩手
  宮城
  秋田
  山形
  福島
  茨城
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  埼玉
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  東京
  神奈川
  新潟
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  石川
  福井
  山梨
  長野
  岐阜
  静岡
  愛知
  三重
  滋賀
  京都
  大阪
  兵庫
  奈良
  和歌山
  鳥取
  島根
  岡山
  広島
  山口
  徳島
  香川
  愛媛
  高知
  福岡
  佐賀
  長崎
  熊本
  大分
  宮崎
  鹿児島
  沖縄
  韓国
  中国
  タイ
  イギリス
  ドイツ
  スイス
  フランス
  ベルギー
  オランダ
  スウェーデン
  ノルウェー
  アメリカ
注記
Includes bibliographical references and index
内容説明・目次
内容説明
Big Tech has flourished on the US public markets in recent years with numerous blue-chip IPOs, from Google and Facebook, to new kids on the block such as Snap, Zoom, and Airbnb. A key trend is the burgeoning use of dual-class stock. Dual-class stock enables founders to divest of equity and generate finance for growth through an IPO, without losing the control they desire to pursue their long-term, market-disrupting visions. Bobby Reddy scrutinises the global history of dual-class stock, evaluates the conceptual and empirical evidence on dual-class stock, and assesses the approach of the London Stock Exchange and ongoing UK regulatory reforms to dual-class stock. A policy roadmap is presented that optimally supports the adoption of dual-class stock while still protecting against its potential abuses, which will more effectively attract high-growth, innovative companies to the UK equity markets, boost the economy, and unleash the true potential of 'founders without limits'.
目次
- Introduction: 1. The cult of dual-class stock in the era of big tech
- 2. A tale of two cities and beyond
- 3. First among equals? Other methods of creating a divergence between voting and cash-flow rights
- 4. Shareholder democracy, and corporate purpose
- 5. From controlling shareholders to dual-class stock
- 6. Theoretical benefits and detriments of dual-class stock
- 7. The empirical evidence on dual-class stock
- 8. The existing constraints
- 9. A balanced protection package for inferior-voting shareholders
- Epilogue
- Appendix: The proposed enhanced inferior-voting shareholder protection package for the UK's premium-tier with a comparison to other major dual-class stock exchanges
- Index.
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