The value of fiduciary duties: Evidence from en bloc sales in Singapore

• Main Authors: HU, Jianfeng, LOW, Kelvin F. K., ZHANG, Wei
• Format: text
• Language: English
• Published: Institutional Knowledge at Singapore Management University 2022
• Subjects: Acquisitions; Agency problem; Collective sale committee; En bloc sales; Fiduciary duties; Mergers; Asian Studies; Property Law and Real Estate; Real Estate
• Online Access: https://ink.library.smu.edu.sg/lkcsb_research/7085; https://ink.library.smu.edu.sg/context/lkcsb_research/article/8084/viewcontent/ValueFiduciaryDuties_sv.pdf
• Institution: Singapore Management University

This paper examines the impact of fiduciary duties on collective asset sales in the case of owners acting as delegates for other owners, thereby potentially inducing conflicts of interests. Our identification strategy exploits a unique legal shock in Singapore, which established fiduciary duties in...