We study 288 family firms included in the NSE CNX 500 index of the National Stock Exchange of India. We find an … entrenchment-alignment-entrenchment relationship between family ownership and firm value. We show that family CEO has a negative … moderating effect on the relationship between family ownership and firm value. When the interaction effect of Family CEO on …

family and managerial ownership on real earnings management of selected non-financial listed companies at the Colombo Stock … rules and regulation. The study found that family and managerial ownership play a prominent role and negatively related to …

We study the managers' compensation schemes adopted by publicly listed family firms by means of a theoretical model and … an empirical analysis. Existing empirical literature finds puzzling evidence about the structure of family CEOs' pay …, which apparently contradicts the fundamental tenets of principal-agent theory under moral hazard. In particular, family CEOs …

shareholders is smaller or when savings banks are family firms. Practical implications: Outside directors can not only play the … customers. Contribution: Finally, this study contributes to the family business literature by providing insight into how the … unique characteristics of family firms in strategic choices make outside directors contribute as assistants than supervisors. …

Based on behavioral finance theory, we discuss the influence of managers' herd behavior on corporate financialization … from the perspective of managers' behavioral preferences. Empirical testing was conducted using data from nonfinancial …

This paper studies the relationship between ownership concentration, family ownership, management, and market and …-shaped relationship between ownership concentration and market performance, present in family and non-family firms, pointing out an … entrenchment effect or excessive risk aversion of the controlling group. The effect is worsened for family firms. The presence of …

Building on the theory of Burkart et al. (2003) that family ownership and control of firms mitigate the twin conflicts … between owners and managers and between majority and minority owners, we suggest that the allocation of firm ownership rights … and informal governance within controlling families helps mitigate conflicts among family members, a third type of agency …

. This paper develop a model suggesting that employee ownership policy reveals management quality. Good managers would use … employee ownership as a reward management tool whereas bad managers would implement it for entrenchment motives. We bring about … three main conclusions: (i) Bad managers use employee ownership as an entrenchment mechanism. (ii) This latter phenomenon …