Related party transactions and corporate governance
Citations
4 citations
Cites background from "Related party transactions and corp..."
...Other papers find evidence of negative abnormal returns around the time when a firm announces an RPT (see Gordon, Henry, and Palia, 2004, for an example in the US; and Cheung, Rau, and Stouraitis, 2006, for one in Hong Kong)....
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...…support for the assumption that some RPTs are commonly used for tunneling comes from several papers that find a negative effect of FLCG quality on the volume (in dollars) and the number of RPTs (e.g., Gordon, Henry, and Palia, 2004, in US firms and Kang, Lee, Lee, and Park, 2014, in Korean firms)....
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4 citations
4 citations
Cites background from "Related party transactions and corp..."
...…much return either buyer or seller can generate from a given asset, because asset transfer from one entity that does not use the asset to its best advantage to the other entity that operates the asset more efficiently only falls under the case of efficient asset allocation (Gordon et al., 2004)....
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...(2009), the findings of their work are still vulnerable to a possibility that the deal terms only favorable to controlling shareholders are not the products of tunneling motivation, but the results of efficient asset allocation across business entities managed under the same umbrella (Gordon et al., 2004)....
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...Testing this possibility asks us to compare how much return either buyer or seller can generate from a given asset, because asset transfer from one entity that does not use the asset to its best advantage to the other entity that operates the asset more efficiently only falls under the case of efficient asset allocation (Gordon et al., 2004)....
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...…the findings of their work are still vulnerable to a possibility that the deal terms only favorable to controlling shareholders are not the products of tunneling motivation, but the results of efficient asset allocation across business entities managed under the same umbrella (Gordon et al., 2004)....
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...Gordon et al. (2004) first establish the frames by which RPTs are understood....
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4 citations
4 citations
Cites background from "Related party transactions and corp..."
...2 Papers studying the United States include Bates, Lemmon, and Linck (2006), Ciccotello, Grant and Grant (2004), and Gordon, Henry, and Palia (2004)....
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References
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"Related party transactions and corp..." refers methods in this paper
...We define industries following Fama and French (1997)....
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