search query: @author Agrawal, A. / total: 11
reference: 7 / 11
| Author: | Agrawal, A. Nagarajan, N.J. |
| Title: | Corporate capital structure, agency costs and ownership control : the case of all-equity firms |
| Journal: | Journal of Finance
1990 : SEP, VOL. 45:4, p. 1325-1331 |
| Index terms: | CAPITAL STRUCTURE OF COMPANIES EQUITY CAPITAL COMPANY OWNERSHIP COMPANY CONTROL |
| Language: | eng |
| Abstract: | Evidence is provided that all-equity firms exhibit greater levels of managerial stockholdings, more extensive family relationships among top management, and higher liquidity positions than a matched sample of leveraged firms. Top managers of all-equity firms with family involvement in corporate operations have greater control of corporate voting rights than managers without family involvement. The findings suggest that managerial control of voting rights and family relationships among senior managers are important factors in the decision to eliminate leverage. |
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