Teshima, Nobuyuki - In: The Japanese Accounting Review 2 (2012) December, pp. 75-85
This study analyzes the relationship between management ownership and its risk-shifting incentive. We first present a … management ownership of the firm increases. Empirically, we test the hypothesis that under the former Japanese Corporate … Reorganization Law, firms with higher management ownership are more likely to use legal rather than private reorganization. Since the …