haku: @author Torre, C. de la / yhteensä: 3
viite: 3 / 3
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| Tekijä: | Miguel, A. de Pindado, J. Torre, C. de la |
| Otsikko: | How do entrenchment and expropriation phenomena affect control mechanisms? |
| Lehti: | Corporate governance
2005 : JUL, VOL. 13:4, p. 505-516 |
| Asiasana: | Agency theory Control systems Corporate governance |
| Kieli: | eng |
| Tiivistelmä: | This article studies how different control mechanisms relate with each other in the Spanish corporate governance system. The authors analyse these control mechanisms according to the non-linearity of the value-ownership relation and they put the emphasis on entrenchment and expropriation phenomena. The findings suggest that Spanish control mechanisms are used in a complementary way which surfaces only when the interests of managers and owner converge, but not when there are controlling owners whose interests need not coincide with those of minority shareholders. |
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