Agency costs, ownership structure, and corporate governance in pre-and post-IPO firms
نویسندگان
چکیده
منابع مشابه
Agency Costs and Ownership Structure
We provide measures of absolute and relative equity agency costs for corporations under different ownership and management structures. Our base case is Jensen and Meckling's (1976) zero agency-cost firm, where the manager is the firm’s sole shareholder. Utilizing a sample of 1,708 small corporations from the FRB/NSSBF database, we find evidence supporting several predictions of agency cost theo...
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Acknowledgments. We would like to thank Matias Braun, Vidhi Chhaochharia and seminar participants at the American Economic Association Meeting (Chicago), the Swedish Ministry of Finance, and Tilburg University for helpful comments; the Rotman International Centre for Pension Management, NETSPAR (Giannetti and Laeven), and the Jan Wallander and Tom Hedelius Foundation (Giannetti) for financial s...
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ژورنال
عنوان ژورنال: Corporate Ownership and Control
سال: 2006
ISSN: 1810-3057,1727-9232
DOI: 10.22495/cocv3i3p7