Since Black (1976), the source of the stock price volatility smirk has remained a controversy. The volatility smirk is a side effect of agency conflict. An important distinction is that the smirk occurs in the optimum, even after agency conflict has been resolved. The slope of the smirk is found...

Due to the information technology development, outsourcing has gained much importance, especially in the banking business where the creation of the shadow banking system through the outsourcing of risks on special-purpose entities has extended the corporate boundaries, increasing corporate...

В данной статье представлены результаты исследования взаимосвязи между инсайдерской собственностью и инвестиционной эффективностью компаний на...

We examine the link between the intensity of product market competition and the dividend models of agency conflicts in an economy with weak investor protection (Taiwan). Product market competition can substitute for governance mechanisms. Our results show that the outcome agency model of...

This study investigates distinctive investment behavior of family firms to distinguish among the diverse theories on the characteristics of family firms. Agency theorists emphasize reduced agency conflicts in family owned and managed firms due to alignment of interests between owners and...

Differences in management and shareholders priorities have been recognized and accepted to exist creating problems in the agency to which financial theorists opined that dividend payments is the best means of resolving the conflict. Results obtained using the multiple regression equation model...