Ownership Structure and Firm Value : New Evidence from Spain  

Oleh:

Miguel, Alberto De ; Pindado, Julio ; Torre, Chabela De La

Jenis: Article from Journal - ilmiah internasional
Dalam koleksi: Strategic Management Journal vol. 25 no. 12 (Dec. 2004), page 1199-1208.
Topik: Structure; corporate governance; insider ownership; ownership concentration; firm value

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: SS30.17 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Isi artikel

This paper provides new evidence on the way in which ownership influences firm value. Unlike previous studies, the empirical evidence obtained from our ownership concentration model supports not only the monitoring but also the expropriation effects. Additionally, the insider ownership model provides results that confirm the convergence - of - interest and the entrenchment effects, even though spanish insiders get entrenched at higher ownerships levels that their U. S. and U. K. counterparts.

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