modifying SG&A costs in response to changing sales, but not by hiring or firing employees. These findings extend prior studies …

association between short-termism, competition, and agency costs and the lower future long-term changes in profitability for …We investigate the association between public versus private ownership and future long-term changes in profitability …-term changes in operating profitability compared to private firms matched on current profitability, size, growth and industry. We …

profitability and size for firms with high (low) MCOWN. Result suggests increasing (decreasing) use of debt capital when MCOWN is …

, general, and administrative costs to adjust their cost structures and modify both their assets and labor costs to achieve high …

substantial incentives to reduce agency and litigation costs and to maximize firm value …