de La Bruslerie, Hubert; Latrous, Imen - Université Paris-Dauphine (Paris IX) - 2012
Debt may help to manage type II corporate agency conflicts because it is easier for controlling shareholders to modify … leverage. At low levels of ownership, controlling shareholders use more debt in order to inflate their stake in capital and to … resist unfriendly takeovers attempts. When ownership reaches a certain point, controlling shareholders' objectives further …