Park, Heejin; Noh, Jung Hee; Song, Kyojik "Roy" - In: Global Business & Finance Review (GBFR) 26 (2021) 3, pp. 88-99
entrenchment motives. Design/methodology/approach: We calculate the average monthly risk-adjusted return (alpha) of each portfolio … market significantly overvalues firms with employee ownership in DC plans, supporting managerial entrenchment motives …