We develop and test a model that investigates how controlling shareholders' expropriation incentives affect firm values … shareholders' expropriation incentives imply a link between corporate governance and firm value. …

. In this sense, the outcomes reveal the use of pyramidal groups as an income expropriation mechanism. This can be a …

companies (PLCs) in Malaysia. The majority of the companies in the sample have an ultimate controlling owner, particularly an … expropriate minority interests through methods such as inefficient corporate diversification. The risk of such expropriation would … argument that high control rights of controlling owner might encourage expropriation of minority interests through corporate …

and control leading to severe expropriation of minority shareholders’ interest. The method adapts Attig Model and employs … independent variables used including risk, cash, size, capital expenditure, tobinQ, debt ratio, dividend payout ratio, duality … Malaysia has large differences between cash flow rights and control rights. The result of regression analysis reveals that all …

expansion with strong control rights) and debt (arm’s length expansion with loose control rights) in the context of contractual … both types of corruption shift the trade-off marginally toward debt. Cross-country panel empirical evidence supports these …