Parabolic Effect Between Managerial Ownership And Firm Value To Control Agency Conflict
نویسندگان
چکیده
منابع مشابه
Managerial ownership dynamics and firm value
From 1988 to 2003, the average change in managerial ownership is significantly negative every year for American firms. We find that managers are more likely to significantly decrease their ownership when their firms are performing well, but not more likely to increase their ownership when their firms have poor performance. Because investors learn about the total change in managerial ownership w...
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The nonlinear relationship between corporate value (Tobin's Q) and managerial ownership is well documented. This has commonly been attributed to the onset of managerial entrenchment, which results in a decrease of corporate value for increasing levels of managerial holdings. We propose a more complex structure for the corporate value { managerial ownership function, which accounts for the e®ect...
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ژورنال
عنوان ژورنال: Jurnal Manajemen
سال: 2019
ISSN: 1410-3583
DOI: 10.24912/jm.v23i3.569