haku: @indexterm COMPANY OWNERSHIP / yhteensä: 496
viite: 17 / 496
| Tekijä: | Gaspar, J. Massa, M. |
| Otsikko: | Local ownership as private information: Evidence on the monitoring-liquidity trade-off |
| Lehti: | Journal of Financial Economics
2007 : MAR, VOL. 83:3, p. 751-792 |
| Asiasana: | corporate governance liquidity SHARE PRICES company ownership |
| Kieli: | eng |
| Tiivistelmä: | This paper investigates the effects of ownership structure on the way the firm is monitored, the liquidity of its shares, and its stock price. It is shown that informed ownership improves governance and induces value-enhancing decisions. However, the liquidity of the stock will suffer because outside investors recognize this informational ability. Those two effects are impounded in firm's stock price. That is why ownership and performance seem to be unrelated. |
SCIMA