Search Results - subject:"Private Benefits of Control"

Incitations managériales et oligopole : quels sont les effets de la compétence et des bénéfices privés de contrôle

Rajaonarison, Dominique - In: Revue d'économie politique 123 (2013) 6, pp. 861-892

Persistent link: https://www.econbiz.de/10010337179

Individualism-collectivism, private benefits of control, and earnings management : a cross culture comparison

Zhang, Xu; Liang, Xing; Sun, Hongyan - In: Journal of business ethics : JOBE 114 (2013) 4, pp. 655-664

Persistent link: https://www.econbiz.de/10009776420

The private benefits of control in Chinese listed firms: Do cash flow rights always reduce controlling shareholders’ tunneling?

Luo, Jin-hui; Wan, Di-fang; Cai, Di - In: Asia Pacific Journal of Management 29 (2012) 2, pp. 499-518

Persistent link: https://www.econbiz.de/10010862937

Investor protection and the demand for equity

Giannetti, Mariassunta; Koskinen, Yrjö - 2004

Anecdotal evidence suggests that investor protection affects the demand for equity, but existing theories emphasize only the effect of investor protection on the supply of equity. We build a model showing that the demand for equity is important in explaining financial development. If the level...

Persistent link: https://www.econbiz.de/10010281354

Investor Protection and the Demand for Equity

Giannetti, Mariassunta; Koskinen, Yrjö - Economics Institute for Research (SIR), … - 2003

Persistent link: https://www.econbiz.de/10005190900

Ownership and Control in a Competitive Industry

Karle, Heiko; Klein, Tobias; Stahl, Konrad - C.E.P.R. Discussion Papers - 2011

We study a differentiated product market in which an investor initially owns a controlling stake in one of two competing firms and may acquire a non-controlling or a controlling stake in a competitor, either directly using her own assets, or indirectly via the controlled firm. While industry...

Persistent link: https://www.econbiz.de/10008854476

Quantifying private benefits of control from a structural model of block trades

Albuquerque, Rui; Schroth, Enrique - C.E.P.R. Discussion Papers - 2009

We study the determinants of private benefits of control in negotiated block transactions. We estimate the block …'s ability to fight a potential tender offer for the target's stock. We find evidence of large private benefits of control and of …

Persistent link: https://www.econbiz.de/10004969131

Meta-analyzing ownership concentration and firm performance in Asia: Towards a more fine-grained understanding

Heugens, Pursey; Essen, Marc; Oosterhout, J. - In: Asia Pacific Journal of Management 26 (2009) 3, pp. 481-512

Persistent link: https://www.econbiz.de/10005005526

Investment decisions with benefits of control

Poulsen, Thomas - Ehrvervøkonomisk Institut, Institut for Økonomi - 2008

This paper studies how large shareholders with bene…ts of control a¤ect …rms’ equity issue behavior and investment decisions. I introduce an explicit agency cost structure based on the large shareholder’s bene…ts of control. In a simple extension of Myers and Majluf [1984], I show...

Persistent link: https://www.econbiz.de/10005802557

Firm leverage and the private benefits of control in Chinese firms

Zhaoguo, Zhang; Weifeng, He; Jing, Chen - In: Afro-Asian Journal of Finance and Accounting 1 (2008) 1, pp. 6-16

This study investigates the relationship between capital structure and the private benefits of control of listed … Chinese firms. A sample of firms listed on the Chinese stock markets is used to estimate the private benefits of control. The … private benefits of control are approximately 18% (on average) in China. There is a statistically significant negative …

Persistent link: https://www.econbiz.de/10005754138