de La Bruslerie, Hubert; Latrous, Imen - In: Journal of Multinational Financial Management 22 (2012) 4, pp. 111-130
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 …