This paper examines the impact of managerial ownership on cash holding decisions of the firms listed in Borsa Istanbul 100 index between 2005 and 2013. Main aim of the study is to analyse whether there is any evidence for managerial alignment or managerial entrenchment effect on the corporate...

We examine the relation between managerial ownership and corporate debt maturity for the firms listed in Borsa Istanbul-100 Index (BIST-100) between the period 2005 and 2013. We find a negative relation between managerial ownership and long term debt maturity. This finding is in line with the...

We analyze detailed monthly data on U.S. open market stock repurchases (OMRs) that recently became available following stricter disclosure requirements. We find evidence that OMRs are timed to benefit non-selling shareholders. We present evidence that the profits to companies from timing...

We analyze detailed monthly data on U.S. open market stock repurchases (OMRs) that recently became available following stricter disclosure requirements. We find evidence that OMRs are timed to benefit non-selling shareholders. We present evidence that the profits to companies from timing...

Using a sample of UK firms we find that institutional block-holding is negatively associated with directors' ownership and is positively associated with board composition, suggesting that institutional block-holders regard directors' ownership and board composition as substitute and...

We construct a novel dataset of detailed monthly data on U.S. open market stock repurchases (OMRs) that became available following stricter SEC disclosure requirements in 2004. The data allow us to investigate the timing of OMRs. We find evidence that OMRs are timed to benefit non-selling...