haku: @indexterm agencies / yhteensä: 177
viite: 1 / 177
« edellinen | seuraava »
| Tekijä: | Florackis, C. Ozkan, A. |
| Otsikko: | The impact of managerial entrenchment on agency costs: an empirical investigation using UK panel data |
| Lehti: | European Financial Management
2009 : JUN, VOL. 15:3, p. 497-528 |
| Asiasana: | agencies corporate governance management behaviour panel data United Kingdom |
| Kieli: | eng |
| Tiivistelmä: | The relationship between managerial entrenchment and agency costs is empirically investigated for a large sample of over the period 1999-2005. Detailed information on ownership and board structures and managerial compensation is used to measure managerial entrenchment. A managerial entrenchment index, which captures the extent to which managers have the ability and incentives to expropriate wealth from shareholders is developed. The results are based on a dynamic panel data analysis and they suggest that there is a strong negative relationship between managerial entrenchment and an inverse proxy for agency costs, namely asset turnover ratio. |
« edellinen | seuraava »
SCIMA