Managerial Power, Capital Structure and Firm Value
نویسندگان
چکیده
منابع مشابه
Managerial Power, Capital Structure and Firm Value
With the reform of our property rights system, the maturity of the capital market, and the diversification of corporate financing, the capital structure decision has become the major concern of financial management. There are numbers of researches on how to determine the optimal capital structure, what factors affect the capital structure and what the relationship is like between the capital st...
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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: Open Journal of Social Sciences
سال: 2014
ISSN: 2327-5952,2327-5960
DOI: 10.4236/jss.2014.212019