The purpose of this study is to examine the impacts of alternative flotation methods on price performance of seasoned equity offerings, and to compare the competing hypotheses supported by asymmetric information theory and agency theory. Based on 385 sample issues which were listed in Taiwan...

The present work establishes the main structural characteristics of Cooperatives first grade under the postulates of The Agency Theory. Based in our analysis we conclude a series of structural shortcomings related with agency problems. Moreover, possible solutions to these are proposed.

In an interesting recent paper, DeAngelo and DeAngelo (2006) highlight that Miller and Modigliani's (1961) proof of dividend irrelevance is based on the assumption that the amount of dividends distributed to shareholders is equal or greater than the free cash flow generated by the fixed...

In today's managerial world (corporate governance, shareholders' wealth maximization, agency theory) how are CEOs paid in the 700 layest French firms ? What are the various components of total compensation: fixed camp, bonus fringes, stock options ? What parties influence the mix and amounts :...

This paper reviews the theoretical and empirical literature on the nature and consequences of the corporate governance problem, providing some guidance on the major points of consensus and dissent among researchers on this issue. Also analysed is the effectiveness of a set of external and...

We examine the effects of venture capitalist involvement and equity incentives for all employees on the performance of initial public offering firms. Data was collected from 402 IPO firms, representing 242 non-VC backed and 160 VC backed firms. Results indicate venture capitalists positively...

Venture capitalist and buy-out funds are often considered experts at investing in high-risk projects and companies. To be successful investors, private equity funds must therefore manage the many aspects of risk that are associated with investing in non-public enterprises. This study examines...

This paper studies theoretically and empirically the relation among CEO power, CEO compensation and firm performance. Our theoretical model follows the rent extraction view of CEO compensation put forward by the managerial power theory, and proxies CEO power by the bargaining power the CEO...

Purpose Although the concepts of family business, internationalization, and agency theory have received some attention in the relevant literature, these concepts and theories have been used independently. The purpose of this paper is to help close the gap between what is known and what needs to...

Purpose Prior research indicates that family businesses have fewer management control practices in place and are more likely to have non-economic goals for their firm. Further, researchers in this domain contend that female-controlled businesses tend to underperform compared to male-controlled...