Showing 191 - 200 of 1,028,939
We analyze the propensity to hedge of closely-held family firms and the effect of a CEO's identity in explaining hedging decisions. We find that family involvement in CEO positions positively affects the likelihood of hedging. The effect is stronger when the CEO belongs to the founding family,...
Persistent link: https://www.econbiz.de/10013289282
The study of the determinants of firm profitability is paramount as the main objective of a company is to maximize the present value of its profits. Corporate governance is said to reduce agency costs and help improve firm performance, an issue barely explored for the case of Mexico. Using eight...
Persistent link: https://www.econbiz.de/10013036492
This paper examines whether multiple large shareholders (MLS) affect audit fees in firms where the largest controlling shareholder (LCS) is a family. Results show that there is a negative relationship between audit fees and the presence, number, and voting power of MLS. This is consistent with...
Persistent link: https://www.econbiz.de/10012832605
Many listed companies around the world are controlled by under-diversified family blockholders, who bear idiosyncratic …
Persistent link: https://www.econbiz.de/10012997022
We study the introduction of a new control-enhancing mechanism in Italy, a country characterizedby family-controlled firms and growing shareholders' protection by institutionalinvestors. Since 2014, Italian firms have been able to adopt loyalty shares, which allowa double voting right if shares...
Persistent link: https://www.econbiz.de/10012848417
Perspectives relating to agency theory, information asymmetries and game theory were utilized to explore two outcomes associated with the management buy-out (MBO) or management buy-in (MBI) of former private firms: whether information was shared equally between vendors (i.e., family firm owners)...
Persistent link: https://www.econbiz.de/10014051042
This research examines the effectiveness of Family Constitution or Family Protocol agreements in mitigating each type of agency conflict in family firms. We performed a qualitative analysis, through a case study, and found that the succession process is the main driver for implementing this...
Persistent link: https://www.econbiz.de/10014281542
We analyze the propensity to hedge of closely-held family firms and the effect of a CEO's identity in explaining hedging decisions. We find that family involvement in CEO positions positively affects the likelihood of hedging. The effect is stronger when the CEO belongs to the founding family,...
Persistent link: https://www.econbiz.de/10013406202
In this study, we document that independent corporate boards of Hong Kong firms provide effective monitoring of earnings management, which suggests that despite differences in institutional environments, corporate board independence is important to ensure high quality financial reporting. The...
Persistent link: https://www.econbiz.de/10014207197
Corporate governance literature advances the idea that certain aspects of board of directors' structure improve monitoring of managerial decisions. Among these is the managers' decision to manage earnings. Prior studies have shown that earnings management, in widely-held public companies, is...
Persistent link: https://www.econbiz.de/10014209639