This study explores how firms’ ownership structures affect their earnings quality and long-term performance. Focusing on a unique sample of private firms for which there is financial data available in the years before and after their initial public offering (IPO), I differentiate between those that have private equity sponsorship (PE-backed firms) and those that do not (non-PEbacked firms). The...

The existence of biological assets is fully regulated in PSAK 69 which the adoption IAS 41. This study aims to provide empirical evidence related influence asset intensity, ownership concentration, public ownership, and audit committee meetings on disclosure. population used this an agricultural company listed Indonesia Stock Exchange (IDX) for period 2018 2021. sample selection method was purp...

Open source software, developed by volunteers, appears counter to the conventional wisdom that without ownership rights or government intervention, public goods will not be efficiently provided. But complexity makes a difference: contracts are incomplete and ownership rights do not necessarily elicit socially optimal effort. I consider three mechanisms that improve the provision of complex soft...

This paper explores the economic impact of alternative ownership structures on transportation system performance, social welfare, and regulatory needs. Road pricing, investment, and ownership decisions are jointly considered in an agent-based evolutionary model applicable to large networks. Results suggest that a centralized public regime with average-cost pricing is far from socially optimal w...

This paper shows that the positive correlation between the presence of institutional investors and a firm’s likelihood of being acquired is due to ownership endogeneity, i.e., due to the fact that institutions are better informed investors. After controlling for this ownership endogeneity, the presence of institutional investors reduces the probability of being acquired. There is also evidence ...

To ascertain whether the form of managerial compensation affects a firm’s long-term operating performance, we track IPOs for five years after the expiration of the stabilization period. New public companies perform better when managers receive a balanced combination of stock option grants and equity ownership. Firms with unbalanced compensation arrangements, large option grants and little equit...

In this paper, we study how separation of control from ownership affects overinvestment by presenting a simple model extended from La Porta et al. (2002). We find that firms with controlling shareholders whose control is more separated from ownership are likely to overinvest more, even if controlling shareholders expropriate funds for purpose of other than investment. Using over 1000 public lis...

In this paper, we study how separation of control from ownership affects overinvestment by presenting a simple model extended from La Porta et al. (2002). We show that firms with controlling shareholders whose control is more separated from ownership are likely to overinvest more, even if controlling shareholders expropriate funds for purpose of other than investment. Using over 1000 public lis...

This article examines the undemocratic process of telecommunications divestment in Jamaica and Trinidad and Tobago. The divestment of the telecommunications sector was largely prompted by each state’s inability to service external debt. Despite espousing the importance of public participation in the ownership of state-owned enterprises being divested, the governments each limited or excluded na...

This study aims to determine the effect of intangible assets and public ownership on value companies listed in LQ 45 Index Indonesia Stock Exchange for 2016-2020 period. The method data collection this was indirect observation, only examining object research, namely manufacturing Exchange, precisely Index. Observations made by researchers were non-participant observations, where observations as...