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Investment Policy, Internal Financing and ownership Concentration in the UK

Renneboog, Luc; Goergen, M. - Tilburg University, Center for Economic Research - 2000

investigate whether ownership concentration by class of shareholder creates or mitigates liquidity constraints.Control is expected … liquidity and investment could be a symptom of underinvestment.Firms pass up some projects with positive net present values … concentration reduces the liquidity constraints induced by agency costs, high insider shareholding concentration increases the …

Persistent link: https://www.econbiz.de/10011090481

The Impact of Ownership Structure on Firm Performance : Evidence From a Large Emerging Market

Douma, S.W.; George, R.; Kabir, M.R. - Tilburg University, Center for Economic Research - 2002

We examine how ownership structure affects the performance of firms using firm level data from a large emerging market, India.We specifically focus on a previously unexplored phenomenon, namely the differential role played by foreign institutional and foreign corporate shareholders.An...

Persistent link: https://www.econbiz.de/10011090733

When do German Firms Change their Dividends?

Renneboog, Luc; Correia Da Silva, L.; Goergen, M. - Tilburg University, Center for Economic Research - 2002

Anecdotal evidence suggests that the dividend policy of German firms is more flexible than the one of their Anglo-American counterparts.This paper analyses the decision to change the dividend for a panel of 221 German firms from 1984 to 1994.The choice of the period of study is motivated by the...

Persistent link: https://www.econbiz.de/10011091618

The Managerial Labor Market and the Governance Role of Shareholder Control Structures in the UK

Renneboog, Luc; Trojanowski, G. - Tilburg University, Center for Economic Research - 2002

We simultaneously analyze two mechanisms of the managerial labor market: CEO turnover and monetary remuneration schemes.Sample selection models and hazard analyses applied to a random sample of 250 firms listed on the London Stock Exchange over a six-year pre-Cadbury period show that managerial...

Persistent link: https://www.econbiz.de/10011092291

Does the balance of power among block shareholders have impact on top management turnover?: An empirical study of listed firms in China

Xie, Jun; Zeng, Xiaotao - In: China Finance Review International 1 (2010) December, pp. 98-113

Purpose–The purpose of this paper is to examine whether the shareholding of the largest shareholder and other large shareholders could exert a good stimulating effect within a firm's corporate governance structure and what impact the balance of power among large shareholders could have on top...

Persistent link: https://www.econbiz.de/10010561538

Corruption, debt financing and corporate ownership

Lemma, Tesfaye T. - In: Journal of Economic Studies 42 (2015) 3, pp. 433-461

Purpose – The purpose of this paper is to examine the influence of perceived corruption on debt financing and ownership structure decisions of firms within the context of ten African countries. Design/methodology/approach – The paper analyses 15-year (1996-2010) data pertaining to 556...

Persistent link: https://www.econbiz.de/10014864043

Ownership structure, corporate governance and dividend performance on the Ghana Stock Exchange

Bokpin, Godfred A. - In: Journal of Applied Accounting Research 12 (2011) 1, pp. 61-73

Purpose – This paper aims to document the interaction between ownership structure, corporate governance and dividend performance on the Ghana Stock Exchange (GSE). Design/methodology/approach – Panel data covering a period from 2002 to 2007 for 23 firms were analyzed within the framework of...

Persistent link: https://www.econbiz.de/10014837791

Improving corporate governance of SMEs in emerging economies: a Malaysian experience

Rachagan, Shanthy; Satkunasingam, Elsa - In: Journal of Enterprise Information Management 22 (2009) 4, pp. 468-484

Purpose – SMEs are essential to economic growth in Malaysia and many emerging economies as they are a major source of employment and contribute towards the gross domestic product. It is therefore imperative that the corporate governance practices of SMEs are enhanced by assurance that...

Persistent link: https://www.econbiz.de/10014859766

The impact of ownership structure on financial reporting quality in the east

Yasser, Qaiser Rafique; Mamun, Abdullah Al; Hook, Margurite - In: International Journal of Organizational Analysis 25 (2017) 2, pp. 178-197

Purpose This paper aims to focus mainly on the relationship between ownership structure and earnings management of a developed and two developing economies, and is distinct from prior research. Design/methodology/approach Using a sample of firms from three countries (Australia, Malaysia and...

Persistent link: https://www.econbiz.de/10014787784

The efficacy of principle‐based corporate governance practices and firm financial performance

Reddy, Krishna; Locke, Stuart; Scrimgeour, Frank - In: International Journal of Managerial Finance 6 (2010) 3, pp. 190-219

Purpose – This paper seeks to address the effect that principle‐based corporate governance practices have on the financial performance of large publicly‐listed companies. In 2004, the New Zealand Securities Commission (NZSC) promulgated nine high level principles and guidelines for all...

Persistent link: https://www.econbiz.de/10014785317