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Local corruption and corporate cash holdings: Sheltering assets or agency conflict?

Xu, Xixiong; Li, Yaoqin - In: China Journal of Accounting Research 11 (2018) 4, pp. 307-324

This study investigates the impact of corruption on corporate cash holdings in China. The political extraction argument … that the negative association between corruption and cash holding is more significant for non-state-owned enterprises (Non … sensitive to corruption than those of Non-SOEs with political connections. These findings demonstrate that expropriation by …

Persistent link: https://www.econbiz.de/10012621009

Is there a non-linear relationship of market value with cash and ownership?

Arvanitis, Stavros E.; Stamatopoulos, Theodoros V.; … - In: SPOUDAI - Journal of Economics and Business 68 (2018) 1, pp. 3-25

The paper provides new evidence on the way that both the cash and ownership influence firms' market value in the Athens Stock Exchange (ASE) within the Eurozone (2000-2015). Based on corporate governance theory and critical analysis we use the dynamic panel data econometrics, in order to get...

Persistent link: https://www.econbiz.de/10011994282

The price of media capture and the looting of newspapers in interwar France

Bignon, Vincent; Flandreau, Marc - 2012

This paper develops a new insight enabling the empirical study of media capture: minority shareholders of newspapers and readers face similar risks. Both are adversely affected when corrupt insiders use the newspaper for personal profit and receive invisible revenues. This means that relevant...

Persistent link: https://www.econbiz.de/10010316814

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

Economic consequences of private equity investments on the German stock market

Achleitner, Ann-Kristin; Andres, Christian; Betzer, André - 2008

This paper investigates the wealth effects of private equity (PE) investor purchases of shares in German quoted companies. It is the first study to analyze these effects for the German market which is particularly interesting due to its distinct characteristics with regard to the ownership...

Persistent link: https://www.econbiz.de/10010305716

Analyzing the link between agency problems, governance and control attributes for Pakistan

Ghazali, Ahmad; Bilal, Ahmad Raza - In: e-Finanse: Financial Internet Quarterly 13 (2017) 3, pp. 43-65

This research attempts to analyze the relationship between agency, control and corporate gover- nance attributes for a sample of 267 firms listed on the Pakistan Stock Exchange (PSX) from 2005 to 2008. The results show that a) Pakistani listed firms are facing high agency costs problems in...

Persistent link: https://www.econbiz.de/10012011817

Corporate governance and agency cost: Empirical evidence from Vietnam

In: Journal of Risk and Financial Management 13 (2020) 5, pp. 1-15

This study examines the impact of corporate governance, reflecting a wide spectrum of board characteristics and ownership structure on agency costs in 281 listed companies on Ho Chi Minh Stock Exchange (HOSE) in Vietnam in the period 2013-2018. For this purpose, three board characteristics were...

Persistent link: https://www.econbiz.de/10012611332

Corporate governance quality, ownership structure, agency costs and firm performance: Evidence from an emerging economy

Khan, Haroon ur Rashid; Khidmat, Waqas Bin; Al-Hares, … - In: Journal of Risk and Financial Management 13 (2020) 7, pp. 1-33

The purpose of this paper is to investigate the effect of corporate governance quality and ownership structure on the relationship between the agency cost and firm performance. Both the fixed-effects model and a more robust dynamic panel generalized method of moment estimation are applied to...

Persistent link: https://www.econbiz.de/10012611383

Impact of corporate governance on dividend policy: A systematic literature review of last two decades

Mohapatra, Debadatta Das; Panda, Pradiptarathi - In: Cogent Business & Management 9 (2022) 1, pp. 1-18

The present study endeavours to perform a systematic review of the literature related to the impact of corporate governance on dividend policy in the last two decades. This study uses the systematic literature review process . 143 articles were identified initially and subsequently further...

Persistent link: https://www.econbiz.de/10014505796

Say pays!: Shareholder voice and firm performance

Cuñat, Vicente; Gine, Mireia; Guadalupe, Maria - 2013

This paper estimates the effect of increasing shareholder voice in corporations through a new governance rule that provides shareholders with a regular vote on pay: Say on Pay. We apply a regression discontinuity design to Say on Pay shareholder proposals to deal with prior expectations and the...

Persistent link: https://www.econbiz.de/10010369462

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