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| Author: | Chemla, G. Habib, M.A. Ljungqvist, A. |
| Title: | An analysis of shareholder agreements |
| Journal: | Journal of the European Economic Association
2007 : MAR, VOL. 5:1, p. 93-121 |
| Index terms: | shareholders contracts companies |
| Language: | eng |
| Abstract: | Shareholder agreements deal with the relations among shareholders in privately held firms e.g. joint ventures. This paper provides an economic explanation for key clauses in such agreements, namely put and call options, tag-along and drag-along rights, demand and piggy-back rights, and catch-up clauses. It is shown that these clauses can ensure that the contract parties make efficient ex-ante investments in the firm etc. |
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