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firms and documents a novel interaction effect between shareholder rights and disclosure. Improved disclosure leads to a …
Persistent link: https://www.econbiz.de/10013133464
We investigate the cost of capital in a model with an agency conflict between inside managers and outside shareholders. Inside ownership reflects the classic tradeoff between incentives and risk diversification, and the severity of agency costs depends on a parameter representing investor...
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Purpose - The main aim of this paper is to analyze the impact of corporate governance and the cost of capital in shipping industry. The present study grasps on a doctoral thesis aiming to analyze the above developments in the shipping industry in general and mostly in the Greek owed shipping...
Persistent link: https://www.econbiz.de/10011433971
We analyze the relation between comprehensive measures of board quality and the cost as well as the non-price terms of bank loans. We show that firms with higher quality boards and even a single (non-insider) advisory board member borrow at lower interest rates. This relation exists even after...
Persistent link: https://www.econbiz.de/10013133661
This paper uses a stochastic continuous time model of the firm to study how different corporate governance structures affect the agency cost of debt. In the absence of asymmetric information, it shows that control of the firm by debtholders with a minority stake delays the exit decision and...
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Does the introduction of corporate transparency and disclosure rules in emerging economies affect compliance, and … voluntary disclosure and find a significant increase in corporate disclosure among the domestic Russian firms over the period … 2003-07 when firms gradually adopted some but not all disclosure rules. The immediate effect of the introduction was a drop …
Persistent link: https://www.econbiz.de/10013163548