Sita, Bernard Ben; Dah, Abdallah M.; Hallak, Waddah - In: International Journal of Financial Services Management 6 (2013) 2, pp. 93-104
We investigate managerial entrenchment effects on firm value. Conditioning investment and Research and Development (R%D … higher. Under some simplifying assumptions, we find that overinvestment is greater under capital investment than under R%D …) spending on a managerial entrenchment indicator, we find that under managerial entrenchment investment and spending tend to be …