Title
The value of blockholders shaped by moderators The value of blockholders shaped by moderators
Author
Faculty/Department
Faculty of Applied Economics
Publication type
article
Publication
,
Subject
Economics
Source (journal)
Journal of business economics and management. - Place of publication unknown
Volume/pages
14(2013) :s:[1] , p. S313-S327
ISSN
1611-1699
ISI
000329161500016
Carrier
E
Target language
English (eng)
Full text (Publishers DOI)
Affiliation
University of Antwerp
Abstract
This paper investigates the role of moderators in affecting the relationship between ownership and value. The results generally reveal a positive influence of blockholders on performance, that is significantly affected by moderating factors. The link becomes negative in listed firms, as well as in family ones, and vanishes in financial constrained ones. Moreover, in case of managerial opportunism, the role of blockholders increases the positive effect of ownership on performance. Conversely, new governance reforms, improving the investors' protection, have resized the centrality of the majority shareholder. Overall, results can be used to make recommendations on how to improve corporate and country-specific governance mechanisms.
E-info
http://gateway.webofknowledge.com/gateway/Gateway.cgi?GWVersion=2&SrcApp=PARTNER_APP&SrcAuth=LinksAMR&KeyUT=WOS:000329161500016&DestLinkType=RelatedRecords&DestApp=ALL_WOS&UsrCustomerID=ef845e08c439e550330acc77c7d2d848
http://gateway.webofknowledge.com/gateway/Gateway.cgi?GWVersion=2&SrcApp=PARTNER_APP&SrcAuth=LinksAMR&KeyUT=WOS:000329161500016&DestLinkType=FullRecord&DestApp=ALL_WOS&UsrCustomerID=ef845e08c439e550330acc77c7d2d848
https://repository.uantwerpen.be/docman/iruaauth/8abbf8/134441.pdf
Handle