Tayeh, Mohammad; Mustafa, Rafe'; Bino, Adel - In: Journal of Economics, Finance and Administrative Science 28 (2023) 56, pp. 287-302
activities that serve their own interests rather than those of shareholders. The largest shareholder's ownership has no impact on … percentage of capital owned by the largest shareholders and managers increases, SG&A expenses (efficiency ratio) decrease … (increases), indicating that the existence of large non-management shareholders reduces agency costs. After accounting for the …