The relationship between managerial ownership and firm value is examined for 79 listed companies in New Zealand Consistent with theoretical prediction in Jensen and Meckling (1976), ownership and firm value are positively related for ownership levels below 16% and above 58%. Results consistent with Demsetz (1983) were obtained for all other levels of ownership suggesting entrenchment and hence value loss. Our findings provide further support to existing evidence from the U.S. and the U.K. that managerial ownership and firm value have a nonlinear relationship.UnpublishedBerle, A.A.,Jr., Means, G.C., 1932. The modern corporation and private Property. New York: Macmillan, NY. Bowden, R. J., 1996. Kiwicap. An introduction to New Zealand capital...
This paper examines the influence of managerial ownership on firm performance through capital-struct...
This paper examines the influence of managerial ownership on firm performance through capital-struct...
Corporate Governance, although a well researched area of finance, still has many unresolved question...
The relationship between management ownership and firm value is investigated in an attempt to reconc...
This study has two objectives. The first objective is to address the issue of management versus owne...
Managerial Ownership, Capital Structure and Firm Value This paper extends prior research to examine ...
This paper extends prior research to examine the managerial ownership influences on firm performance...
This paper investigates the role of board structure and the effect of ownership structures on firm p...
In studies of primarily large, established firms, researchers find that increasing managerial owners...
From 1988 to 2003, the average change in managerial ownership is significantly negative every year f...
This paper investigates the role of board structure and the effect of ownership structures on firm p...
There are two competing theoretical debates about the impact of ownership concentration on organisat...
This study looks at how executive compensation affects firm value and the extent to which this relat...
Whether equity-based compensation and equity ownership align the interests of managers with stockhol...
We investigate the relation between management ownership and corporate performance, as measured by T...
This paper examines the influence of managerial ownership on firm performance through capital-struct...
This paper examines the influence of managerial ownership on firm performance through capital-struct...
Corporate Governance, although a well researched area of finance, still has many unresolved question...
The relationship between management ownership and firm value is investigated in an attempt to reconc...
This study has two objectives. The first objective is to address the issue of management versus owne...
Managerial Ownership, Capital Structure and Firm Value This paper extends prior research to examine ...
This paper extends prior research to examine the managerial ownership influences on firm performance...
This paper investigates the role of board structure and the effect of ownership structures on firm p...
In studies of primarily large, established firms, researchers find that increasing managerial owners...
From 1988 to 2003, the average change in managerial ownership is significantly negative every year f...
This paper investigates the role of board structure and the effect of ownership structures on firm p...
There are two competing theoretical debates about the impact of ownership concentration on organisat...
This study looks at how executive compensation affects firm value and the extent to which this relat...
Whether equity-based compensation and equity ownership align the interests of managers with stockhol...
We investigate the relation between management ownership and corporate performance, as measured by T...
This paper examines the influence of managerial ownership on firm performance through capital-struct...
This paper examines the influence of managerial ownership on firm performance through capital-struct...
Corporate Governance, although a well researched area of finance, still has many unresolved question...