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Presents evidence showing that ownership structure affects a firm's agency costs of cash flow, which, in turn, influences the market's reaction to changes in the firm's dividend policy. This volume examines the relationship between managerial entrenchment and the effectiveness of internal governance mechanisms and the firm performances.
Sommario
Contents Ownership Structure, Agency Costs and Dividend Policy (M. Bajaj et al.). Managerial Entrenchment and the Effectiveness of Internal Governance Mechanisms (M.M. McNabb, J.D. Martin). An Empirical Analysis of the Association Between CEO Compensation and Firm Performance: A Relative Excess Value Ratio Approach J.Kang et al.). The Relationship Between Systematic Risk and Underpricing of the IPO mMrket M.A. Almisher et al.). Hidden Cost Reductions in Bank Mergers: Accounting for More Productive Banks (S.H. Kwan, J.A. Wilcox). The Likelihood and Extent of Banks' Involvement with Interest Rate Derivatives as End Users (J.W. Gunther, T.F. Siems). The Determinants of Derivative Use by U.S. and Foreign Banks (Y.-W. Shyu, A. Reichert). The Impact of Regulatory Changes on Banks' Risks and Returns in Taiwan H.-Y. Yin et al.). The Market Value and Dynamic Interest Rate Risk of Swaps (A.H. Chen, M.M. Chaudhury). The Analysis of Duration and Immunization Strategy Under the HJM Term Structure Framework (C-.C. Chang, J-.C. Ho). The Lead-lag Relation Between Spot and Option Markets and Implied Volatility in Option Prices (P.P. Boyle et al.). Syndication Among Venture Capitalists - When and With Whom (A. Bubna).
Riassunto
Presents evidence showing that ownership structure affects a firm's agency costs of cash flow, which, in turn, influences the market's reaction to changes in the firm's dividend policy. This volume examines the relationship between managerial entrenchment and the effectiveness of internal governance mechanisms and the firm performances.
