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| Author: | Woidtke, T. |
| Title: | Agents watching agents?: evidence from pension fund ownership and firm value |
| Journal: | Journal of Financial Economics
2002 : JAN, VOL. 63:1, p. 99-131 |
| Index terms: | AGENCY THEORY COMPANY VALUE CORPORATE GOVERNANCE INSTITUTIONAL INVESTORS PENSION FUNDS |
| Language: | eng |
| Abstract: | This paper examines the valuation effects associated with the incentive structures of different types of institutional investors using the ownership levels of public and private pension funds in a firm. The results suggest that institutional monitoring is associated with valuation effects when both observable and unobservable aspects of the relationship between institutions and firms are taken into account. |
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