Managerial ownership dynamics and firm value☆
نویسندگان
چکیده
منابع مشابه
Managerial ownership dynamics and firm value
From 1988 to 2003, the average change in managerial ownership is significantly negative every year for American firms. We find that managers are more likely to significantly decrease their ownership when their firms are performing well, but not more likely to increase their ownership when their firms have poor performance. Because investors learn about the total change in managerial ownership w...
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ژورنال
عنوان ژورنال: Journal of Financial Economics
سال: 2009
ISSN: 0304-405X
DOI: 10.1016/j.jfineco.2008.06.005