Jiang, Wei; Adams, Mike; Jia-Upreti, Joy - In: International Review of Financial Analysis 24 (2012) C, pp. 117-128
This study examines whether the ‘managerial entrenchment’ problem resulting from the separation of ownership and …. Managerial entrenchment is measured using a principal component analysis (PCA)-derived index and our analysis is conducted using … entrenchment’. However, the score for the index does not affect the amount of insurance coverage purchased. Moreover, agency costs …