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Blockholder Dispersion and Firm Value
Konijn, Sander J.J.; Kraeussl, Roman; Lucas, Andre - 2009
This paper analyzes the impact of blockownership dispersion on firm value. Blockholdings by multiple blockholders is a widespread phenomenon in the U.S. market. It is not clear, however, whether dispersion among blockholder is preferable to having a more concentrated ownership structure. To test...
Persistent link: https://www.econbiz.de/10010325997
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Blockholder dispersion and firm value
Konijn, Sander J. J.; Kräussl, Roman; Lucas, André - 2010
This paper analyzes the impact of blockownership dispersion on firm value. Blockholdings by multiple blockholders is a widespread phenomenon in the U.S. market. It is not clear, however, whether dispersion among blockholder is preferable to having a more concentrated ownership structure. To test...
Persistent link: https://www.econbiz.de/10010303754
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Managerial incentives and the efficiency of capital structure
Hughes, Joseph P.; Lang, William W.; Moon, Choon-Geol; … - 2001
better market opportunities on incentive-conflicted managers' consumption of perquisites and on their use of defensive …
Persistent link: https://www.econbiz.de/10010318364
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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 allocate the potential value of their firm's assets to the consumption of …
Persistent link: https://www.econbiz.de/10010274320
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Management ownership and firm's value: An empirical analysis using panel data
Lee, Sang-Mook; Ryu, Keunkwan - 2003
Demsetz and Lehn (1985), Morck, Shleifer, and Vishny (1988), and McConnell and Servaes (1990) report different empirical findings regarding ownership structure and corporate profitability. In this paper, we re-estimate the relation between management ownership and firm's value after controlling...
Persistent link: https://www.econbiz.de/10010332313
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Bank Ownership, Firm Value and Firm Capital Structure in Europe
Baert, Lieven; Vennet, Rudi Vander - 2009
We investigate whether or not banks play a positive role in the ownership structure of European listed firms. We distinguish between banks and other institutional investors as shareholders and examine empirically the relationship between financial institution ownership and the performance of the...
Persistent link: https://www.econbiz.de/10011335540
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Interrelationship among capital structure, corporate governance measures and firm value: Panel study from Pakistan
Javeed, Awais; ul Hassan, Masood; Azeem, Muhammad - In: Pakistan Journal of Commerce and Social Sciences (PJCSS) 8 (2014) 3, pp. 572-589
The aim of the study is to test most discussed relationship between capital structure and firm value. This research also investigated the impact of corporate governance measures on firm value and impact of capital structure on corporate governance measures. The study used the 775 firm year...
Persistent link: https://www.econbiz.de/10011938415
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Firm size sensitivity on the correlation between financing choice and firm value
Diantimala, Yossi; Syahnur, Sofyan; Mulyany, Ratna; … - In: Cogent Business & Management 8 (2021) 1, pp. 1-19
This study examines the impact of firm size on the effect of capital structure choice on the firm value in one of the emerging markets, Indonesia. The study of capital structure choice and firm value in emerging markets is captivating due to the different characteristics of its companies as...
Persistent link: https://www.econbiz.de/10012657326
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Corporate financial strategy in an emerging market: Evidence from Indonesia
Alghifari, Erik Syawal; Hermawan, Atang; Gunardi, Ardi; … - In: Journal of Risk and Financial Management 15 (2022) 8, pp. 1-12
This paper focuses on strategic corporate financial decisions related to capital structure to increased firm value, moderated by the COVID-19 pandemic under MM theory, trade-off theory, and pecking order theory. The analytical method used is panel data analysis, with observations of 1828...
Persistent link: https://www.econbiz.de/10014332563
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Do corporate governance, capital structure predict financial performance and firm value?(empirical study of Jakarta Islamic index)
Ferriswara, Dian; Sayidah, Nur; Buniarto, Edwin Agus - In: Cogent Business & Management 9 (2022) 1, pp. 1-15
This study examines corporate governance, capital structure, financial performance, and firm value in the Jakarta Islamic Index. The technique of data analysis uses Partial Least Square (PLS), with structural equations (SEM) based on components or variants, on annual data from 2015 to 2021 to...
Persistent link: https://www.econbiz.de/10014505464