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Cost Behavior and Profitability of Family Firms
Abudy, Menachem (Meni); Shust, Efrat - 2022
This paper investigates whether family ownership affects a firm’s cost behavior and profitability. We find that in … cost”). This result is robust to alternative definitions of family firms. The sharp cost reduction of family firms makes …
Persistent link: https://www.econbiz.de/10013404294
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The Cost of Being Different : Peer Firm Costs of Cash Holdings
Kjenstad, Einar C. - 2018
I estimate a dynamic game where firms make external financing decisions and hold cash taking into account the corresponding behavior of their peers. A key advantage of this approach is that I can obtain an empirical measure of peer effects that stem from decision makers' dynamic optimization...
Persistent link: https://www.econbiz.de/10012933935
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Financial Management Analysis of Profitability of Selected Industries in India : Empirical Research Findings
Singh, Shveta - 2013
The purpose of this paper is to study the profitability of the 166 non-financial companies of the BSE 200 index with particular emphasis on a pre- and post-recession analysis for the period 2001-2011 with an attempt to link the profitability with the liquidity of the sample firms. The study...
Persistent link: https://www.econbiz.de/10013076769
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Profits may lead teams to lose matches, but scoring goals does not lead to profit
Sánchez, Luis Carlos; Barajas, Angel; … - In: European research on management and business economics 26 (2020) 1, pp. 26-32
The purpose of this paper is to examine the relationship between profitability and sporting performance in European football. Profitability has been rarely studied because it has not been considered an aim of European clubs, in contrast with American clubs. However, the emergence of investors...
Persistent link: https://www.econbiz.de/10012202772
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What Does Japanese Corporate Governance Reform Mean?
Omura, Hiroyasu - 2020
In Japan, since 2013, Japanese corporate governance reform has been developed by Japanese Government initiatives. This paper provides a theoretical framework for understanding what Japanese corporate governance reform means for Japanese companies by an application of agency theory. Corporate...
Persistent link: https://www.econbiz.de/10012837422
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Foundation Owned Firms – A Comparative Study of Stakeholder Approaches
Draheim, Matthias - 2017
How do policy and performance of firms change with variations in the stakeholder approach? We compare foundation owned firms (FoFs) and family firms, with and without codetermination. As foundations have no owners, the impact on corporate governance of residual claimants might be weaker and the...
Persistent link: https://www.econbiz.de/10012960339
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Principal Costs : A New Theory for Corporate Law and Governance
Goshen, Zohar - 2017
principal-cost theory, which posits that each firm's optimal governance structure minimizes the sum of principal costs, produced …. The empirical predictions produced by principal-cost theory are more accurate than those produced by any theory focused … solely on agency costs. Principal-cost theory also suggests different policy prescriptions. Rather than banning some …
Persistent link: https://www.econbiz.de/10012972091
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The Cross Section of Bank Value
Egan, Mark - 2018
We study the determinants of value creation in the cross section of U.S. commercial banks. We develop novel measures of individual bank's productivities at collecting deposits and making loans. We relate these measures to bank market values and find that variation in deposit productivity...
Persistent link: https://www.econbiz.de/10012934415
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Ownership Structure and Innovation : An Emerging Market Perspective
Chen, PhD, CFA, Victor Zitian; Li, Jing; Shapiro, Daniel M. - 2015
diversity and ownership concentration. Using transaction cost and agency theories embedded in an emerging market context, we …
Persistent link: https://www.econbiz.de/10014213013
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Stewardship Activities and Agency Problems after Japanese Corporate Governance Reform
Omura, Hiroyasu - 2020
cost. In this report, stewardship activities are focused based upon the idea that agency theory, newly introduced as … principal cost theory, could support a conceptual framework of governance reform and analyzed that as an important function for … agency cost reduction. In order to make governance reform more effective, I make several proposals, cost sharing of …
Persistent link: https://www.econbiz.de/10014361849