Effect of Structure Choice on Firm Governance
  • Author : Anonim
  • Release Date : 19 August 2022
  • Publisher : Unknown
  • Genre : Uncategorized
  • Pages : 10
  • ISBN 13 : OCLC:1305302028

Download Effect of Structure Choice on Firm Governance eBook in PDF, Epub and Kindle

Book Description: Dual class firms face a great criticism since they violate one share one vote strategy. It is believed that insiders of dual class firms expropriate the minority shareholders wealth and the governance practices are weak compared to single class firms. We try to investigate the relationship of governance practices measured by board size, ratio of independent directors, CEO-Chairman duality, Debt ratio, dividend payout and institutional investment pattern with the structure (single or dual class structure) choice of firm. We find by using OLS regression that dual class firms show their commitment to the rights of shareholders by hiring more independent directors and by attracting institutional investors but in actual they control them through controversial CEO-Chairman duality, as independent director may not take stand against CEO who has the authority of his hiring and firing hence independent directors fail in delivering what they actually owe to outside shareholders. We also find the significant and positive relationship of wedge with CEO-Chairman duality and ratio of independent directors. We neither find dual class firms of China using debt nor dividend as governance mechanism to direct the future cash flow of firm.

Effect of Structure Choice on Firm Governance

Effect of Structure Choice on Firm Governance

Author : Anonim
Publisher : Unknown
Genre : Uncategorized
DOWNLOAD

Dual class firms face a great criticism since they violate one share one vote strategy. It is believed that insiders of dual class firms expropriate the minority shareholders wealth and the governance practices are weak compared to single class firms. We try to investigate the relationship of governance practices measured ...

Capital Structure  Earnings Management  and Risk of Financial Distress

Capital Structure Earnings Management and Risk of Financial Distress

Author : Pietro Gottardo,Anna Maria Moisello
Publisher : Springer
Genre : Business & Economics
DOWNLOAD

This book analyzes the impacts that family control of firms has on capital structure choices, leverage and the risk of financial distress, earnings management practices, and the relation between accounting choices and firm market value. For these purposes, longitudinal data on Italian family and non-family non-financial firms are closely analyzed. ...

Firm Age  Corporate Governance  and Capital Structure Choices

Firm Age Corporate Governance and Capital Structure Choices

Author : Robert L. Kieschnick
Publisher : Unknown
Genre : Uncategorized
DOWNLOAD

Do the effects of corporate governance on corporate capital structure choices change as a public firm ages? First, we address the direct effects of firm age and governance features on both its decisions to use debt and how much debt to employ. Our analysis reveals a number of novel results. ...

Handbook of Organizational Change and Innovation

Handbook of Organizational Change and Innovation

Author : Marshall Scott Poole,Andrew H. Van de Ven
Publisher : Oxford University Press on Demand
Genre : Business & Economics
DOWNLOAD

It presents a state-of-the-art view that will serve as a springboard for further advances in this area." "Each chapter of this handbook sums up and assesses the state of knowledge in its area and builds on this foundation to advance a new view. The chapters, and the book, advance our ...

The Growth of Islamic Finance and Banking

The Growth of Islamic Finance and Banking

Author : Hussain Mohi-ud-Din Qadri,M. Ishaq Bhatti
Publisher : Routledge
Genre : Business & Economics
DOWNLOAD

This book covers the recent literature concerning Islamic banking and finance (IBF), focuses on the history of IBF since its inception and introduces the latest innovative concepts and practices in the field. The authors cover important topics such as the role of ownership, Shari`ah compliance and governance structures in ...

The Impact of Corporate Governance Structures on the Agency Cost of Debt

The Impact of Corporate Governance Structures on the Agency Cost of Debt

Author : Mr.Jorge A. Chan-Lau
Publisher : International Monetary Fund
Genre : Business & Economics
DOWNLOAD

This paper uses a stochastic continuous time model of the firm to study how different corporate governance structures affect the agency cost of debt. In the absence of asymmetric information, it shows that control of the firm by debtholders with a minority stake delays the exit decision and reduces the ...

Disagreement and Flexibility

Disagreement and Flexibility

Author : Arnoud W. A. Boot,Anjan V. Thakor
Publisher : Unknown
Genre : Boards of directors
DOWNLOAD

In this paper we introduce flexibility as an economic concept and apply it to the firm's security issuance decision and capital structure choice. Flexibility is the ability to make decisions that one thinks are best even when others disagree. The firm's management values flexibility because it allows management to make ...

Corporate Governance Matters

Corporate Governance Matters

Author : David Larcker,Brian Tayan
Publisher : FT Press
Genre : Business & Economics
DOWNLOAD

Corporate Governance Matters gives corporate board members, officers, directors, and other stakeholders the full spectrum of knowledge they need to implement and sustain superior governance. Authored by two leading experts, this comprehensive reference thoroughly addresses every component of governance. The authors carefully synthesize current academic and professional research, summarizing what ...