long term indebtedness based on the market timing theory of capital structure and provides empirical evidence to …

that the lower leverage level leads to high profitability firms engage in low managers‟ ownership program. The result also …. This result is supported by the agency theory prediction suggesting that as a firm has high managerial ownership, the … higher managerial ownership decrease their perquisites, so the conflict between manager‟s shareholders can be settled. It is …

A main prediction of agency theory is the well known risk-incentive trade-off. Incentive contracts should be found in …