Pinkowitz, Lee (contributor); Stulz, René M. (contributor); … - 2003 - [Elektronische Ressource]
benefit of shareholders because the poor protection
of investor rights makes it easier for management and controlling … that management would rather hold cash than pay dividends to shareholders.
Dittmar, Mahrt-Smith, and Servaes (DMS, 2003 … management (see La Porta, Lopez-
de-Silanes, and Shleifer, 1999), we call the agent who controls the firm the controlling …