Share pledges and firm value
نویسندگان
چکیده
منابع مشابه
The Influence of Industry Growth and Firm Market Share on Firm-Level IT Value
Market-dominant firms traditionally have an advantage in growing markets because they operate with larger average plant sizes and are better able to reap the rewards of economies of scale. We present evidence that with information technology (IT), the effect is precisely the opposite: firms with less market power enjoy the benefits in a growing market. The influence of firm-level attributes on ...
متن کاملManager Remuneration , Share Buybacks and Firm Performance
Using a dynamic heterogeneous agent industry model we examine the impact of manager remuneration schemes on firms investment decisions and on the evolution of their competitiveness and share values. Whereas an increase in the share-based manager remuneration component is always beneficial to the manager, it is beneficial for shareholders only if such a change in the remuneration scheme is adopt...
متن کاملMarket Share , Concentration and Diversification in Firm
*This paper is the result of work being undertaken as part of a collaborative research program entitled ‘The Performance of Australian Enterprises: Innovation, Productivity and Profitability’. The project is generously supported by the Australian Research Council and the following collaborative partners: Australia Tax Office, Commonwealth Office of Small Business, IBIS Business Information Pty ...
متن کاملCEO Share Ownership and Firm Valuation
We estimate the relation between Tobin’s Q and CEO share ownership with firm and CEO-firm fixed effects. Our results reveal an inverted U-shaped relation only when external pressure for good governance is weak, where the pressure is measured by product market competition and institutional ownership concentration. The inverted U-shaped relation seems to be a manifestation of some CEOs capturing ...
متن کاملInnovation, Market Share, and Firm Value- Patents in Personal Computer Industry
Innovation effects on firm value have not been effectively discussed because previous studies ignore the market structure and tax shields from research and development (R&D) (e.g., Hirschey and Weygandt (1985), Shevlin (1991)). Market structures of personal computer (PC) firms are explored in this paper to the degree to which innovation increases firm value depending on market structure charact...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Pacific-Basin Finance Journal
سال: 2019
ISSN: 0927-538X
DOI: 10.1016/j.pacfin.2019.04.001