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Relevant bibliographies by topics / Equity Agency Costs

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Academic literature on the topic 'Equity Agency Costs'

Author: Grafiati

Published: 4 June 2021

Last updated: 10 February 2022

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Journal articles on the topic "Equity Agency Costs"

1

Sackley, William H. "Agency Costs of Overvalued Equity." CFA Digest 35, no. 4 (November 2005): 91. http://dx.doi.org/10.2469/dig.v35.n4.1790.

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Pantzalis, Christos, and Jung Chul Park. "Agency Costs and Equity Mispricing." Asia-Pacific Journal of Financial Studies 43, no. 1 (February 2014): 89–123. http://dx.doi.org/10.1111/ajfs.12041.

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Jensen, Michael C. "Agency Costs of Overvalued Equity." Financial Management 34, no. 1 (March 2005): 5–19. http://dx.doi.org/10.1111/j.1755-053x.2005.tb00090.x.

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Aarstol, Michael. "Inflation, agency costs, and equity returns." Journal of Economics and Business 52, no. 5 (September 2000): 387–403. http://dx.doi.org/10.1016/s0148-6195(00)00030-8.

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McMahon, Richard G. P. "Equity Agency Costs Amongst Manufacturing SMEs." Small Business Economics 22, no. 2 (March 2004): 121–40. http://dx.doi.org/10.1023/b:sbej.0000014452.12852.3f.

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Liu, Chia-Ying, Shiu-Chen Huang, and Shieh-Liang Chen. "The Effects of Agency Costs and Insiders’ Shareholdings on Financing Choices." Asian Journal of Finance & Accounting 8, no. 1 (April 16, 2016): 127. http://dx.doi.org/10.5296/ajfa.v8i1.9288.

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<p><span style="font-size: medium;">This paper investigates the effects of debt agency cost and equity </span><span style="font-size: medium;">agency cost of current and prior periods on the financing choices of long-term debts, seasoned equity offering, and private equity financings. It also examines the effects of the shareholdings of insiders on the association between both debt and equity agency costs and the choice of financing methods. </span></p>The findings show that both prior and current debt agency costs are positively related to seasoned equity o

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Nobanee, Haitham, and Jaya Abraham. "The impact of free cash flow, equity concentration and agency costs on firm’s profitability." Investment Management and Financial Innovations 14, no. 2 (June 1, 2017): 19–26. http://dx.doi.org/10.21511/imfi.14(2).2017.02.

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This paper examines how free cash flow and equity concentration are associated with agency costs, and how they influence the profitability of insurance firms listed on the Saudi Stock Market. The results indicate that equity concentration has no significant impact on agency costs, free cash flow has no significant impact on agency costs and agency costs have no significant impact on firm’s profitability. The findings of this study do not show any evidence to support the agency theory among insurance firms listed on the Saudi Stock Market.

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Kontuš, Eleonora. "Agency costs, capital structure and corporate performance." Ekonomski vjesnik 34, no. 1 (2021): 73–85. http://dx.doi.org/10.51680/ev.34.1.6.

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Purpose: The aim of this study is, first to describe and explore equity agency costs; second, to explore the impact of capital structure on equity agency costs; and finally, to examine the impact of agency costs on the performance of listed companies. Methodology: Panel data regression has been used for research data analysis. Results: The results of the work show that equity to capital and long-term debt to capital variables have a positive and significant impact on the agency costs of listed companies in the Republic of Croatia. The study indicates that long-term debt to capital variable has

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Nobanee, Haitham, Nejla Ould Daoud Ellili, and Jaya Abraham. "Equity Concentration, Agency Costs and Performance of Non-financial Firms Listed on the Saudi Stock Exchange (Tadawul)." Global Business Review 18, no. 2 (March 9, 2017): 379–87. http://dx.doi.org/10.1177/0972150916668606.

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This article examines the association between the equity concentration and agency costs as well as the impact of agency costs on performance of non-financial firms listed on the Saudi Stock Exchange (Tadawul). These relations are examined by using dynamic panel data and a two-step robust system estimation for the period 2010–2013. The study uses three proxy variables to measure agency costs. The results show that the equity concentration has no significant impact on agency costs, and the agency costs have no significant impact on firms’ performance. In addition, the study shows no evidence to

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Meuleman, Miguel, Mike Wright, Sophie Manigart, and Andy Lockett. "Private Equity Syndication: Agency Costs, Reputation and Collaboration." Journal of Business Finance & Accounting 36, no. 5-6 (June 2009): 616–44. http://dx.doi.org/10.1111/j.1468-5957.2009.02124.x.

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Dissertations / Theses on the topic "Equity Agency Costs"

1

Junker, Lukas. "Equity carveouts, agency costs, and firm value /." Wiesbaden : Dt. Univ.-Verl, 2005. http://www.gbv.de/dms/zbw/497325225.pdf.

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Truong, Thanh, and thanh truong@rmit edu au. "Corporate Ownership, Equity Agency Costs and Dividend Policy: An Empirical Analysis." RMIT University. Economics, Finance and Marketing, 2008. http://adt.lib.rmit.edu.au/adt/public/adt-VIT20080528.094747.

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Equity agency costs are important to the firm and the management of these costs is a critical element of corporate governance, yet empirical research that focuses on the magnitude and impact of agency costs is limited. This thesis sets out to furnish empirical evidence in the area of corporate ownership with a particular focus on the magnitude of equity agency costs as well as the relation that exists between the largest shareholder in a firm and equity agency costs and between the largest shareholder and the dividend policy that a firm adopts. This thesis provides an empirical analysis of

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Hijazi, Bassem. "Bank Loans as a Financial Discipline: A Direct Agency Cost of Equity Perspective." Thesis, University of North Texas, 2006. https://digital.library.unt.edu/ark:/67531/metadc5411/.

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In a 2004 study, Harvey, Lin and Roper argue that debt makers with a commitment to monitoring can create value for outside shareholders whenever information asymmetry and agency costs are pronounced. I investigate Harvey, Lin and Roper's claim for bank loans by empirically testing the effect of information asymmetry and direct agency costs on the abnormal returns of the borrowers' stock around the announcement of bank loans. I divide my study into two main sections. The first section tests whether three proxies of the direct agency costs of equity are equally significant in measuring the direc

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Park, Jung Chul. "Two essays on market efficiency : tests of idiosyncratic risk: informed trading versus noise and arbitrage risk, and agency costs and the underlying causes of mispricing: information asymmetry versus conflict of interests." [Tampa, Fla.] : University of South Florida, 2007. http://purl.fcla.edu/usf/dc/et/SFE0001944.

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Dissertation (Ph.D.)--University of South Florida, 2007.<br>Document formatted into pages; contains 100 pages. Title from PDF of title page. Includes vita. Includes bibliographical references. Mode of access: World Wide Web.

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Amini, Moghadam Shahram. "Two Essays on Competition, Corporate Investments, and Corporate Earnings." Diss., Virginia Tech, 2018. http://hdl.handle.net/10919/82851.

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The general focus of my dissertation, which consists of two essays, is on how changes in the financial and economic environment surrounding a firm affect managerial incentives and firm policies regarding investment in physical capital, innovation, equity offerings, and repurchases. The first essay in my dissertation examines how product market competition affects firms' investment decisions. While competition among firms benefits consumers via lower prices, greater product variety, higher product quality, and greater innovation, recent studies provide evidence that competition has been declini

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Nilsson, Mattias. "Essays in empirical corporate finance and governance." Doctoral thesis, Handelshögskolan i Stockholm, Finansiell Ekonomi (FI), 2002. http://urn.kb.se/resolve?urn=urn:nbn:se:hhs:diva-587.

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Agency Costs of Controlling Minority Shareholders (coauthored with Henrik Cronqvist) estimates the agency costs of controlling minority shareholders (CMSs) using a panel of Swedish listed firms. CMSs are owners who have a control stake of the firm’s votes while owning only a minority fraction of the firm’s equity. The study documents that families in control are almost exclusively CMSs through an extensive use of dual-class shares. The results show that increased ownership of votes by a controlling owner is associated with an economically and statistically significant decrease in firm value, b

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Zhu, Yin. "Essays on accounting and incentives in Chinese equity markets." Thesis, University of Manchester, 2015. https://www.research.manchester.ac.uk/portal/en/theses/essays-on-accounting-and-incentives-in-chinese-equity-markets(74adb2ee-0cfc-40f6-8d62-392ab7bbdc1b).html.

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In this thesis, I exploit accounting issues in the Chinese context with a particular focus on the role of government. The thesis consists of three empirical essays, examining how the state coordinates among the state-owned enterprises in executive compensation (essay 1), how the government regulates the dividend payouts of listed firms (essay 2) and how the delisting regulation influences the accounting choices of listed firms (essay 3).The first essay examines relative performance evaluation (RPE) in China. Previous studies of RPE for executive compensations in Western developed markets have

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Puleo, Michael. "Insider Share-Pledging and Firm Investors." Diss., Temple University Libraries, 2016. http://cdm16002.contentdm.oclc.org/cdm/ref/collection/p245801coll10/id/386109.

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Business Administration/Finance<br>Ph.D.<br>Corporate insiders frequently borrow from lending institutions and pledge personal equity shares as collateral for the loan. Using manually collected pledge data for January 2007-December 2011, I examine how this phenomena affects firm investors and analyze agency conflicts between pledging managers and (a) outside shareholders, and (b) bondholders. Pledging potentially influences investor risk through changing managerial incentives and/or contingency risk from ill-timed margin calls. Findings suggest influential insiders extract private benefits of

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Burkhardt, Kirsten. "Le rôle des sociétés de capital-investissement dans la formation d'alliances stratégiques." Thesis, Dijon, 2014. http://www.theses.fr/2014DIJOE009/document.

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Ce travail analyse le rôle des sociétés de capital-investissement dans la formation d’alliances stratégiques sur le marché français du capital-investissement. Après nous être fait une idée de l’importance du phénomène à l’aide des informations nouvelles que nous avons générées par notre propre enquête, nous apportons une explication au phénomène observé. L’analyse théorique se fait sous l’angle de la création de valeur actionnariale, en recourant conjointement aux théories contractuelles et cognitives. Les théories sociologiques des réseaux viennent compléter les principaux arguments de ces de

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HUANG, YU-CHEN, and 黃昱甄. "Overvalued Equity and Agency Costs." Thesis, 2006. http://ndltd.ncl.edu.tw/handle/01100880424095238787.

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碩士<br>國立臺北大學<br>會計學系<br>94<br>The main purpose of this study is to explore the relationship between overvalued equity and agency costs. A series of papers by Jensen (2002; 2005) demonstrate that, when a firm’s equity is overvalued that it will not, except by pure luck, be able to deliver the financial performance the market requires justifying that valuation, managers are likely to take actions designed to meet the market’s optimistic expectations and sustain the overvaluation, instead of disseminating information disappoint capital markets. They are more likely to generate the appearance of

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Books on the topic "Equity Agency Costs"

1

DeAngelo, Harry. Dividend policy, agency costs, and earned equity. Cambridge, MA: National Bureau of Economic Research, 2004.

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2

Junker, Lukas. Equity Carveouts, Agency Costs, and Firm Value. Wiesbaden: Deutscher Universitätsverlag, 2005. http://dx.doi.org/10.1007/978-3-322-82117-1.

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Bebchuk, Lucian A. Stock pyramids, cross-ownership, and dual class equity: The creation and agency costs of separating control from cash flow rights. Cambridge, MA: National Bureau of Economic Research, 1999.

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4

Thompson, R. Steve. U.K.management buyouts deals: Debt, equity and agency cost implications. Nottingham: Centre for Management Buy-Out Research, 1990.

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Junker, Lukas. Equity Carveouts, Agency Costs, and Firm Value. DUV, 2006.

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6

Armour, John. Bank Governance. Edited by Jeffrey N. Gordon and Wolf-Georg Ringe. Oxford University Press, 2016. http://dx.doi.org/10.1093/oxfordhb/9780198743682.013.48.

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According to a common narrative, the failure of banks in the financial crisis reflected poor corporate governance practices, as well as inadequate prudential regulatory safeguards. Yet it turns out that the “best” governance practices according to ordinary standards were the ones that did worst during the financial crisis. In the period leading up to the financial crisis, it was believed that regulation would cause banks to internalize the costs of their activities, meaning that what maximized bank shareholders’ returns would also be in the interests of society. Consequently, large banks used

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Gormley, Bill. James Q. Wilson,. Edited by Martin Lodge, Edward C. Page, and Steven J. Balla. Oxford University Press, 2016. http://dx.doi.org/10.1093/oxfordhb/9780199646135.013.2.

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This chapter examines James Q. Wilson’sBureaucracy: What Government Agencies Do and Why they Do it, and compares Wilson’s approach to that of neoclassical economics, paying particular attention to his denunciation of William Niskanen’s “bureaucratic imperialism” hypothesis and his rejection of “principal-agent” models which predict widespread “shirking” by bureaucrats. It discusses his argument that every bureaucracy has a distinctive culture that helps shape the behavior of individual bureaucrats. The chapter explores Wilson’s other views with regards to “capture theory,” accountability, and

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Unpaid Health Care Work: A Gender Equality Perspective. Pan American Health Organization, 2021. http://dx.doi.org/10.37774/9789275122310.

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A debate on public goods is urgently needed in health care. Care must be recognized as a social function, as an occupation and, at the same time, as a human right—which imposes binding obligations to comply with precise standards of quality, quantity, suitability, adaptability, and accessibility, among others. It is a complex and invisible task, that may be done as part of a medical treatment, post-surgical recovery process, or permanent support in cases of chronic illness, disability, or mental health conditions. And it tends to be provided mainly in the home, by women, without remuneration.

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Case, Jay R. Methodists and Holiness in North America. Oxford University Press, 2017. http://dx.doi.org/10.1093/oso/9780199683710.003.0009.

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Baptists in nineteenth-century North America were known as eager proselytizers. They were evangelistic, committed to the idea of a believers’ church in which believers’ baptism was the norm for church membership and for the most part fervent revivalists. Baptist numbers soared in the early nineteenth-century United States though at the cost of generating much internal dissent, while in Canada New Light preachers such as Henry Alline were influential, but often had to make headway against an Anglican establishment. The Baptist commitment to freedom of conscience and gathered congregations had b

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Book chapters on the topic "Equity Agency Costs"

1

Junker, Lukas. "Introduction." In Equity Carveouts, Agency Costs, and Firm Value, 1–25. Wiesbaden: Deutscher Universitätsverlag, 2005. http://dx.doi.org/10.1007/978-3-322-82117-1_1.

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Junker, Lukas. "Theoretical Foundations." In Equity Carveouts, Agency Costs, and Firm Value, 27–64. Wiesbaden: Deutscher Universitätsverlag, 2005. http://dx.doi.org/10.1007/978-3-322-82117-1_2.

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Junker, Lukas. "Hypothesis development." In Equity Carveouts, Agency Costs, and Firm Value, 65–148. Wiesbaden: Deutscher Universitätsverlag, 2005. http://dx.doi.org/10.1007/978-3-322-82117-1_3.

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Junker, Lukas. "Empirical Evidence." In Equity Carveouts, Agency Costs, and Firm Value, 149–360. Wiesbaden: Deutscher Universitätsverlag, 2005. http://dx.doi.org/10.1007/978-3-322-82117-1_4.

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Junker, Lukas. "Conclusion." In Equity Carveouts, Agency Costs, and Firm Value, 361–65. Wiesbaden: Deutscher Universitätsverlag, 2005. http://dx.doi.org/10.1007/978-3-322-82117-1_5.

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Junker, Lukas. "References." In Equity Carveouts, Agency Costs, and Firm Value, 367–445. Wiesbaden: Deutscher Universitätsverlag, 2005. http://dx.doi.org/10.1007/978-3-322-82117-1_6.

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Owen, Geoffrey, Tom Kirchmaier, and Jeremy Grant. "Michael Jensen on Agency Costs of Overvalued Equity." In Corporate Governance in the US and Europe, 21–24. London: Palgrave Macmillan UK, 2006. http://dx.doi.org/10.1057/9780230512450_2.

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"Agency Cost Mitigation." In Corporate Governance and Responsible Investment in Private Equity, 47–72. Cambridge University Press, 2021. http://dx.doi.org/10.1017/9781108641838.004.

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Lupton, Nathaniel C., Guoliang Frank Jiang, and Luis F. Escobar. "National Income Inequality, Society, and Multinational Enterprises." In Geopolitics and Strategic Management in the Global Economy, 219–41. IGI Global, 2018. http://dx.doi.org/10.4018/978-1-5225-2673-5.ch011.

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This chapter calls for understanding the perspective of multinational enterprises (MNEs) on international differences in income inequality. The authors set a research agenda on how national differences in income inequality influence MNE expansion strategies. Applying a transaction cost framework, both negative and positive economic outcomes of income inequality, from the MNE's perspective, are identified. Low levels of income inequality may deter foreign investment, as MNEs prefer countries where they incur lower levels of transaction costs arising from interactions with various market and non-market actors. However, the positive effect of income inequality on location attractiveness will likely diminish at higher levels of inequality when benefits are increasingly offset by additional monitoring, bargaining and security costs owing to instability and conflict. The chapter further explores the implications for level of MNE equity applied in the choice of entry mode under different levels of income inequality.

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Jerabeck, Matthew John, Marc Perkins, and David Petruzzellis. "Microstructure of Fixed Income Trading." In Debt Markets and Investments, 639–58. Oxford University Press, 2019. http://dx.doi.org/10.1093/oso/9780190877439.003.0033.

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Some fixed income securities trade infrequently with high transaction costs. Although equity securities trade mostly on centralized exchanges or platforms, many bonds are inaccessible without an intermediary. Broker-dealers help create a channel between these otherwise illiquid and fractured markets, enabling the flow of information and capital between participants. These agents provide a critical service to developing markets, but they are increasingly threatened by modernization. Two forces are shifting the landscape of fixed income trading: (1) regulation is increasing the cost of business and (2) automation is squeezing profit margins. Although these changes may improve market efficiency in the long-term, they may come at the cost of short-term volatility and price shocks. This chapter describes the microstructure of fixed income trading, focusing on the mechanisms through which prices and liquidity are discovered in the Treasury, corporate, and municipal bond markets.

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Conference papers on the topic "Equity Agency Costs"

1

Hua, Zhang, Gao Yun-zhe, and Han Dong-ping. "Debt level and equity agency costs: Evidence from public listed companies in China." In 2010 International Conference on Management Science and Engineering (ICMSE). IEEE, 2010. http://dx.doi.org/10.1109/icmse.2010.5719966.

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Wan, Congying, and Jian Xu. "The Impact of Equity Structure Reform on the Relationship between Equity Structure and Equity Agency Cost: An Empirical Analysis of Retail Listed Companies." In 2009 International Conference on Management and Service Science (MASS). IEEE, 2009. http://dx.doi.org/10.1109/icmss.2009.5301172.

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Reports on the topic "Equity Agency Costs"

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DeAngelo, Harry, Linda DeAngelo, and Rene Stulz. Dividend Policy, Agency Costs, and Earned Equity. Cambridge, MA: National Bureau of Economic Research, July 2004. http://dx.doi.org/10.3386/w10599.

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Bebchuk, Lucian, Reinier Kraakman, and George Triantis. Stock Pyramids, Cross-Ownership, and the Dual Class Equity: The Creation and Agency Costs of Seperating Control from Cash Flow Rights. Cambridge, MA: National Bureau of Economic Research, February 1999. http://dx.doi.org/10.3386/w6951.

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Murad, M. Hassan, Stephanie M. Chang, Celia Fiordalisi, Jennifer S. Lin, Timothy J. Wilt, Amy Tsou, Brian Leas, et al. Improving the Utility of Evidence Synthesis for Decision Makers in the Face of Insufficient Evidence. Agency for Healthcare Research and Quality (AHRQ), April 2021. http://dx.doi.org/10.23970/ahrqepcwhitepaperimproving.

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Background: Healthcare decision makers strive to operate on the best available evidence. The Agency for Healthcare Research and Quality Evidence-based Practice Center (EPC) Program aims to support healthcare decision makers by producing evidence reviews that rate the strength of evidence. However, the evidence base is often sparse or heterogeneous, or otherwise results in a high degree of uncertainty and insufficient evidence ratings. Objective: To identify and suggest strategies to make insufficient ratings in systematic reviews more actionable. Methods: A workgroup comprising EPC Program mem

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