Paskelian, Ohannes G.; Bell, Stephen; Nguyen, Chu V. - In: The International Journal of Business and Finance Research 4 (2010) 4, pp. 59-73
In this study, we examine the impact of concentrated ownership on cash valuation and the level of cash holdings in firms the emerging nations of China and India. Agency theories suggest that firms with high levels of concentrated ownership are subject to greater extraction of private benefits...