| Author: | Mehran, H. Taggart, R. Yermack, D. |
| Title: | CEO ownership, leasing, and debt financing |
| Journal: | Financial Management
1999 : SUMMER, VOL. 28:2, p. 5-14 |
| Index terms: | FINANCIAL MANAGEMENT LEASING CHIEF EXECUTIVE OFFICERS |
| Language: | eng |
| Abstract: | In this empirical study the authors examine the effect of CEO stock ownership on leasing. Although financial contracting theory suggests that ownership structure is potentially an important determinant of debt financing and leasing, its effect on learning has not been previously explored. The authors also control for explanatory factors that have been found important in other leasing studies. The authors find that CEO ownership is positively related to companies' leasing and debt financing activity, consistent with contracting theory. |
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