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Agency costs and R&D: Evidence from Finnish SMEs
Väänänen, Lotta - 2003
begin with, a principal-agent problem created by the separation of the management of a firm (the agent) and its ownership …
Persistent link: https://www.econbiz.de/10010285225
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Estimating Managers' Utility Maximizing Demand for Agency Goods
Hughes, Joseph P.; Moon, Choon-Geol - 2003
An empirical model of managers' demand for agency goods is derived and estimated using the Almost Ideal Demand System of Deaton and Muellbauer (AER 1980). As in Jensen and Meckling (JFE 1976), we derive managers' demand for agency goods by maximizing a managerial utility function where managers...
Persistent link: https://www.econbiz.de/10010274320
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Foundations of Corporate Governance
Volonté, Christophe - 2012
This paper outlines the foundations of corporate governance. The discussion includes a review on the modern corporation, transaction costs theory, agency costs theory, legal investor protection, investor protection by corporate governance and its various mechanisms, as well as an overview of the...
Persistent link: https://www.econbiz.de/10011390672
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Vállalatok tulajdonosi irányításának változatai: (Felmérések tanulságai)
Vince, Péter - 2007
transactions and network contacts of the firms, as well as their management practices. …
Persistent link: https://www.econbiz.de/10010494357
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Ownership concentration and bank profitability
Ozili, Peterson Kitakogelu; Uadiale, Olayinka - In: Future Business Journal 3 (2017) 2, pp. 159-171
We investigate whether ownership concentration influences bank profitability in a developing country context. We focus on bank ownership concentration measured as the amount of direct equity held by a majority shareholder categorised into: high ownership concentration, moderate ownership...
Persistent link: https://www.econbiz.de/10011937845
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Tournaments and managerial incentives in China's listed firms: new evidence
Kato, Takao; Long, Cheryl - 2008
The promotion tournament as a potentially important incentive mechanism for top management in transition economies has … an optimal response of the winner's prize to the size of the contestant pool is more evident for China's listed firms … to decide on the tournament winner). Using comprehensive financial and accounting data on China's listed firms from 1998 …
Persistent link: https://www.econbiz.de/10010268884
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Érdekek egybeesése és ütközése: Szemelvények a MOL államhoz fűződő kapcsolataiból
Vince, Péter - 2013
MOL Plc as a national champion does not simply take part in the implementation of the state's decisions but the company's cooperation is needed in realizing the economic, political and social considerations of the authorities. Therefore the company is provided with special preferential...
Persistent link: https://www.econbiz.de/10010494534
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Executive compensation, firm performance, and corporate governance in China: evidence from firms listed in the Shanghai and Shenzhen stock exchanges
Kato, Takao; Long, Cheryl - 2005
This paper provides evidence on how executive compensation relates to firm performance in listed firms in China. Using … comprehensive financial and accounting data on China's listed firms from 1998 to 2002, augmented by unique data on executive … cash compensation (salary and bonus) for top executives with respect to shareholder value in China. In addition, sales …
Persistent link: https://www.econbiz.de/10010267302
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CEO turnover, firm performance and enterprise reform in China: evidence from new micro data
Kato, Takao; Long, Cheryl - 2006
Using comprehensive financial and accounting data on China's listed firms from 1998 to 2002, augmented by unique data … listing suspension mechanism, i.e., the ST designation, adopted by China's securities regulatory agency appears to be … literature on economic transition, our findings suggest that any fundamental improvement in China's corporate governance will …
Persistent link: https://www.econbiz.de/10010274393
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Corporate governance and dividend policy in Poland
Kowalewski, Oskar; Stetsyuk, Ivan; Talavera, Oleksandr - 2007
This study examines the relation between corporate governance practices measured by Transparency Disclosure Index (TDI) and dividend policy in Poland. Our empirical approach, constructs measures of the quality of the corporate governance for 110 non-financial companies listed on Warsaw Stock...
Persistent link: https://www.econbiz.de/10010264957