This work investigates the role of equity ownership for the purpose of committing the management to the pursuit of shareholder value in the presence of separation between ownership and control. By rooting the conflicts of interests between managers and shareholders upon the control of internal...

The present study aims to examine the relationship between dividend policy and earnings management by explicitly considering the role of the agency problem and financing constraints. The sample comprises 3250 non-financial Chinese listed firms from 2009 to 2018. This study uses fixed- and random...

Adjustment programs in developing countries have emphasized the importance of reducing fiscal deficits in order to improve private sector saving and investment performance. Recent theoretical analyses associated with the Ricardian equivalence proposition, however, suggest that, in the limit,...