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| Tekijä: | Liljeblom, E. Vaihekoski, M. |
| Otsikko: | Who creates short-term pressure? An analysis of firms with different ownership structures |
| Lehti: | Liiketaloudellinen aikakauskirja
2010 : 3, p. 239-264 |
| Asiasana: | corporate governance executive remuneration management compensation pay stakeholders |
| Vapaa asiasana: | share repurchasing ownership structure |
| Kieli: | eng |
| Tiivistelmä: | This paper provides new evidence on who causes short-term behaviour, and what kind of effect it has on companies. There are found significant differences in the perceived short-term pressure caused by different shareholder and stakeholder categories e.g. families, activist owners, or market forces (that is, financial analysts). In firms with more short-term owners, such a felt pressure is significantly higher, with its sources including both the current owner categories and also perceived marginal investors. Firms also show cross-sectional variation across different ownership backgrounds in their actions to deal with such a pressure. |
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