Showing 1 - 10 of 104
Persistent link: https://www.econbiz.de/10009773831
Persistent link: https://www.econbiz.de/10010250574
Prior empirical work examined the relationship between dominant shareholders, whose voting rights exceed cash flow rights, and firm value. In this study, we adopt a different perspective and argue that because of the risk imposed on minority shareholders and debtors, such excess control likely...
Persistent link: https://www.econbiz.de/10013136783
Purpose – The purpose of this study is to investigate the relationship between dominant shareholders, whose voting rights exceed cash flow rights (excess control), and firms’ cost of capital, including both equity capital and debt. Design/methodology/approach – This research is conducted...
Persistent link: https://www.econbiz.de/10010732411
Persistent link: https://www.econbiz.de/10003754419
Persistent link: https://www.econbiz.de/10003694517
Persistent link: https://www.econbiz.de/10009202095
Persistent link: https://www.econbiz.de/10006512564
Persistent link: https://www.econbiz.de/10007908572
The theory of law and finance proposed by La Porta et al. (1998) predicts that minority controlled ownership structures, i.e. the structures that allow voting rights to exceed cash-flow rights, are more frequent in legal contexts where investors are not well protected against the expropriation...
Persistent link: https://www.econbiz.de/10014056135