Journal ArticleDOI
Corporate cash holdings and promoter ownership
C.P. Gupta,Prateek Bedi +1 more
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In this article, the authors examined the relationship between corporate cash holdings and promoter ownership for a sample of Indian non-financial firms and found that promoter ownership is negatively associated with cash holdings, thereby highlighting the role of large owners in preventing cash accretion.About:
This article is published in Emerging Markets Review.The article was published on 2020-09-01. It has received 18 citations till now. The article focuses on the topics: Cash management & Cash.read more
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Does mandatory CSR expenditure regulation matter to promoters? Empirical evidence from India
Satish Kumar,Geeta Singh +1 more
TL;DR: In this paper , the authors examined the relation between promoter ownership and corporate social responsibility (CSR) expenditure in India, the first country to legally mandate the CSR spending, and showed that the nonlinear relation between PO and CSR expenditure is more pronounced for firms that are more prone to agency problems, for business group firms than standalone firms and for firms not following the Companies Act 2013 CSR mandate.
Journal ArticleDOI
Impact of board attributes and managerial ownership on cash holdings: empirical evidence using GMM and quantile regressions
Dorra Talbi,Ines Menchaoui +1 more
TL;DR: In this article , the authors examined the impact of board attributes and managerial ownership on cash holdings and found that board size, board independence, board duality, and board ownership impact positively and significantly cash holdings.
Journal ArticleDOI
Founder ownership and value relevance of IFRS convergence: Role of institutional investors
R. Shruti,M. Thenmozhi +1 more
TL;DR: In this paper , the authors examine how founder shareholders switch between alignment and entrenchment and thereby shape the value relevance impact of IFRS convergence, and find that the non-monotonic effect is limited to domestic owners and not foreign owners.
Journal ArticleDOI
Efeitos da Incerteza da Política Econômica no Caixa das Empresas Brasileiras
Gustavo Henrique Dias Souza,Alexandre Teixeira Norberto Batista,Jacqueline Veneroso Alves da Cunha +2 more
TL;DR: This article investigated the effect of incerteza da poliática econômica sobre o caixa e a folga financeira das empresas de capital aberto listadas in Brazil.
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Corporate social responsibility and dividend policy in India
TL;DR: In this article , the authors investigated the relationship between corporate social responsibility (CSR) and dividend policy in the context of Indian firms, as well as how regulatory interventions in the form of mandated CSR can moderate this relationship.
References
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Journal ArticleDOI
Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations.
Manuel Arellano,Stephen Bond +1 more
TL;DR: In this article, the generalized method of moments (GMM) estimator optimally exploits all the linear moment restrictions that follow from the assumption of no serial correlation in the errors, in an equation which contains individual effects, lagged dependent variables and no strictly exogenous variables.
Report SeriesDOI
Initial conditions and moment restrictions in dynamic panel data models
Richard Blundell,Stephen Bond +1 more
TL;DR: In this paper, two alternative linear estimators that are designed to improve the properties of the standard first-differenced GMM estimator are presented. But both estimators require restrictions on the initial conditions process.
Journal ArticleDOI
Another look at the instrumental variable estimation of error-components models
Manuel Arellano,Olympia Bover +1 more
TL;DR: In this paper, a framework for efficient IV estimators of random effects models with information in levels which can accommodate predetermined variables is presented. But the authors do not consider models with predetermined variables that have constant correlation with the effects.
Posted Content
Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers
TL;DR: In this paper, the benefits of debt in reducing agency costs of free cash flows, how debt can substitute for dividends, why diversification programs are more likely to generate losses than takeovers or expansion in the same line of business or liquidationmotivated takeovers, and why the factors generating takeover activity in such diverse activities as broadcasting and tobacco are similar to those in oil.
Journal ArticleDOI
Separation of ownership and control
Eugene F. Fama,Michael C. Jensen +1 more
TL;DR: The authors argue that the separation of decision and risk-bearing functions observed in large corporations is common to other organizations such as large professional partnerships, financial mutuals, and nonprofits. But they do not consider the role of decision agents in these organizations.