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| Author: | Bathala, C. Moon, K. Rao, R. |
| Title: | Managerial ownership, debt policy, and the impact of institutional holdings: an agency perspective |
| Journal: | Financial Management
1994 : AUTUMN, VOL. 23:3, p. 38-50 |
| Index terms: | DEBT POLICY AGENCIES |
| Language: | eng |
| Abstract: | This study investigates the effects of institutional ownership on the debt policy and managerial ownership of the firm. Earlier literature on the agency model of the firm widely recognizes that the use of managerial stock ownership and external debt play an important role in limiting agency conflicts and enhancing firm value. The literature also recognizes that external monitors, such as institutional investors, can serve a useful role in limiting agency problems in the firm. |
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