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different types of controlling shareholders. In a context of concentrated ownership and poor investor protection, controlling … shareholders can easily expropriate wealth from minority shareholders and profit from private benefits of control. However, this … shareholders. Using an audit fee model derived from Simunic (1980), we study the impact of the nature of controlling shareholders …
Persistent link: https://www.econbiz.de/10011825745
corporate control market from 2001 to 2008. We use related party transactions amount to capture control shareholders’ tunneling …
Persistent link: https://www.econbiz.de/10011845002
This paper focuses on the links that exist between corporate governance attributes and equity agency conflicts for the top 500 Australian listed firms. Our proxies for equity agency conflicts (asset utilisation and discretionary operating expense ratios) vary significantly across firms and are...
Persistent link: https://www.econbiz.de/10013078738
Ownership structure is one of the key determinants constituting internal corporate governance, which is especially crucial in emerging markets. This study explores the effects of insider shareholding, an obvious characteristic of ownership structure, on corporate governance. The empirical...
Persistent link: https://www.econbiz.de/10013090150
This paper studies the link between the agency costs of equity and the agency costs of debt. Using a unique sample of the ownership structure of single and dual class firms as well as hand-collected data on loan contracts, we find that the agency cost of debt – proxied by various loan...
Persistent link: https://www.econbiz.de/10013091502
This paper analyzes the relationship between ownership structure (shareholders' stake and identity) and corporate risk … also find a trend to the alignment of interests between the largest shareholder and the other large shareholders, so that …
Persistent link: https://www.econbiz.de/10012974325
winning majority support of shareholders influences the relation between a blockholder's monitoring incentive and a firm …
Persistent link: https://www.econbiz.de/10013037504
Ease of coordination can enable diffuse shareholders to play a more effective role in corporate governance and thereby … coordination, I find evidence that ease of coordination among institutional shareholders is positively associated with firm value … coordination improves firm value by enhancing the governance role provided by shareholders …
Persistent link: https://www.econbiz.de/10013060708
A battle is brewing for control of America's most dynamic companies. Entrepreneurs are increasingly seeking protection from interference or dismissal by public investors through the adoption of dual-class stock structures in initial public offerings. Institutional investors are pushing back,...
Persistent link: https://www.econbiz.de/10011721539
shareholders far removed from the firm's day-to-day operations; and delegated management, which opens up the possibility for … appointment rights, by which shareholders retain the right to appoint and remove directors. Next, it focuses on core decision …
Persistent link: https://www.econbiz.de/10011674062