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Insider ownership and firm value in New Zealand

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  • Bhabra, Gurmeet Singh

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  • Bhabra, Gurmeet Singh, 2007. "Insider ownership and firm value in New Zealand," Journal of Multinational Financial Management, Elsevier, vol. 17(2), pages 142-154, April.
    • Handle: RePEc:eee:mulfin:v:17:y:2007:i:2:p:142-154
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    1. Prevost, Andrew K. & Rao, Ramesh P. & Hossain, Mahmud, 2002. "Determinants of board composition in New Zealand: a simultaneous equations approach," Journal of Empirical Finance, Elsevier, vol. 9(4), pages 373-397, November.
    2. Sanford J. Grossman & Oliver D. Hart, 1982. "Corporate Financial Structure and Managerial Incentives," NBER Chapters, in: The Economics of Information and Uncertainty, pages 107-140, National Bureau of Economic Research, Inc.
    3. Jensen, Michael C, 1986. "Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers," American Economic Review, American Economic Association, vol. 76(2), pages 323-329, May.
    4. McConnell, John J. & Servaes, Henri, 1990. "Additional evidence on equity ownership and corporate value," Journal of Financial Economics, Elsevier, vol. 27(2), pages 595-612, October.
    5. Kee H. Chung & Stephen W. Pruitt, 1994. "A Simple Approximation of Tobin's q," Financial Management, Financial Management Association, vol. 23(3), Fall.
    6. Demsetz, Harold & Lehn, Kenneth, 1985. "The Structure of Corporate Ownership: Causes and Consequences," Journal of Political Economy, University of Chicago Press, vol. 93(6), pages 1155-1177, December.
    7. Short, Helen & Keasey, Kevin, 1999. "Managerial ownership and the performance of firms: Evidence from the UK," Journal of Corporate Finance, Elsevier, vol. 5(1), pages 79-101, March.
    8. Mikkelson, Wayne H. & Ruback, Richard S., 1985. "An empirical analysis of the interfirm equity investment process," Journal of Financial Economics, Elsevier, vol. 14(4), pages 523-553, December.
    9. Demsetz, Harold, 1983. "The Structure of Ownership and the Theory of the Firm," Journal of Law and Economics, University of Chicago Press, vol. 26(2), pages 375-390, June.
    10. Fama, Eugene F, 1980. "Agency Problems and the Theory of the Firm," Journal of Political Economy, University of Chicago Press, vol. 88(2), pages 288-307, April.
    11. Bradbury, Michael E. & Mak, Y. T., 2000. "Ownership structure, board composition and the adoption of charter takeover procedures," Journal of Corporate Finance, Elsevier, vol. 6(2), pages 165-188, July.
    12. Himmelberg, Charles P. & Hubbard, R. Glenn & Palia, Darius, 1999. "Understanding the determinants of managerial ownership and the link between ownership and performance," Journal of Financial Economics, Elsevier, vol. 53(3), pages 353-384, September.
    13. Sang-Mook Lee & Keunkwan Ryu, 2003. "Management Ownership and Firm's Value: An Empirical Analysis Using Panel Data," ISER Discussion Paper 0593, Institute of Social and Economic Research, Osaka University.
    14. Fama, Eugene F & French, Kenneth R, 1992. "The Cross-Section of Expected Stock Returns," Journal of Finance, American Finance Association, vol. 47(2), pages 427-465, June.
    15. James H. Scott Jr., 1976. "A Theory of Optimal Capital Structure," Bell Journal of Economics, The RAND Corporation, vol. 7(1), pages 33-54, Spring.
    16. Shleifer, Andrei & Vishny, Robert W, 1986. "Large Shareholders and Corporate Control," Journal of Political Economy, University of Chicago Press, vol. 94(3), pages 461-488, June.
    17. Jensen, Michael C. & Meckling, William H., 1976. "Theory of the firm: Managerial behavior, agency costs and ownership structure," Journal of Financial Economics, Elsevier, vol. 3(4), pages 305-360, October.
    18. Davies, J.R. & Hillier, David & McColgan, Patrick, 2005. "Ownership structure, managerial behavior and corporate value," Journal of Corporate Finance, Elsevier, vol. 11(4), pages 645-660, September.
    19. Hossain, Mahmud & Prevost, Andrew K. & Rao, Ramesh P., 2001. "Corporate governance in New Zealand: The effect of the 1993 Companies Act on the relation between board composition and firm performance," Pacific-Basin Finance Journal, Elsevier, vol. 9(2), pages 119-145, April.
    20. Myers, Stewart C., 1977. "Determinants of corporate borrowing," Journal of Financial Economics, Elsevier, vol. 5(2), pages 147-175, November.
    21. Billett, Matthew T, 1996. "Targeting Capital Structure: The Relationship between Risky Debt and the Firm's Likelihood of Being Acquired," The Journal of Business, University of Chicago Press, vol. 69(2), pages 173-192, April.
    22. Fama, Eugene F & Jensen, Michael C, 1983. "Separation of Ownership and Control," Journal of Law and Economics, University of Chicago Press, vol. 26(2), pages 301-325, June.
    23. Kester, W Carl, 1992. "Industrial Groups as Systems of Contractual Governance," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 8(3), pages 24-44, Autumn.
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    Cited by:

    1. Georgeta Vintila & tefan Cristian Gherghina, 2015. "Does Ownership Structure Influence Firm Value? An Empirical Research towards the Bucharest Stock Exchange Listed Companies," International Journal of Economics and Financial Issues, Econjournals, vol. 5(2), pages 501-514.
    2. Nguyen, Minh Hong & Trinh, Vu Quang, 2023. "U.K. economic policy uncertainty and innovation activities: A firm-level analysis," Journal of Economics and Business, Elsevier, vol. 123(C).
    3. Won-Yong Oh & Jongseok Cha & Young Kyun Chang, 2017. "Does Ownership Structure Matter? The Effects of Insider and Institutional Ownership on Corporate Social Responsibility," Journal of Business Ethics, Springer, vol. 146(1), pages 111-124, November.
    4. Imad Jabbouri & Rachid Jabbouri, 2021. "Ownership identity and firm performance: Pre‐ and post‐crisis evidence from an African emerging market," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 26(4), pages 5963-5976, October.
    5. Jiang, Haiyan & Habib, Ahsan & Hu, Baiding, 2011. "Ownership concentration, voluntary disclosures and information asymmetry in New Zealand," The British Accounting Review, Elsevier, vol. 43(1), pages 39-53.
    6. Hardjo Koerniadi & Chandrasekhar Krishnamurti & Alireza Tourani-Rad, 2014. "Corporate governance and risk-taking in New Zealand," Australian Journal of Management, Australian School of Business, vol. 39(2), pages 227-245, May.
    7. Kubo, Katsuyuki & Phan, Huu Viet, 2019. "State ownership, sovereign wealth fund and their effects on firm performance: Empirical evidence from Vietnam," Pacific-Basin Finance Journal, Elsevier, vol. 58(C).
    8. Qaiser Rafique Yasser & Abdullah Al Mamun, 2017. "The Impact of Ownership Concentration on Firm Performance: Evidence from an Emerging Market," Emerging Economy Studies, International Management Institute, vol. 3(1), pages 34-53, May.
    9. Hafiz Mustansar Javaid & Snober Javid, 2017. "Determining Agency Theory Framework through Financial Leverage & Insider Ownership," International Journal of Economics and Finance, Canadian Center of Science and Education, vol. 9(3), pages 21-28, March.
    10. Houmes, Robert & Chira, Inga, 2015. "The effect of ownership structure on the price earnings ratio — returns anomaly," International Review of Financial Analysis, Elsevier, vol. 37(C), pages 140-147.
    11. Mohamed Abulgasem A. Elhaj & Nurul Aini Muhamed & Nathasa Mazna Ramli & Nor Balkish Zakaria, 2016. "Ownership Monitoring Mechanism over Sukuk Credit Rating," International Journal of Academic Research in Business and Social Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Business and Social Sciences, vol. 6(12), pages 700-720, December.
    12. Aroh Nkechi Nympha. Ph.D & Egolum, Priscilla Uchenna. Ph.D & Chukwuani Victoria Nnenna. Ph.D, 2021. "Dividend Policy Determinants of Firm Value: Empirical Evidence from Listed Non-Financial Companies in Nigeria," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 5(07), pages 612-634, July.
    13. Georgeta Vintila & Stefan Cristian Gherghina, 2014. "Insider Ownership and the Value of the Bucharest Stock Exchange Listed Companies: Convergence-of-Interest or Entrenchment Effect?," International Journal of Economics and Financial Issues, Econjournals, vol. 4(1), pages 183-195.
    14. Hyung-Jong Na & Hyeon Kang & Hyang-Eun Lee, 2021. "Does Tax Incentives Affect Future Firm Value for Corporate Sustainability?," Sustainability, MDPI, vol. 13(22), pages 1-17, November.
    15. Tukur Garba PhD & Bilkisu Aliyu Abubakar, 2014. "Corporate Board Diversity and Financial Performance of Insurance Companies in Nigeria: An Application of Panel Data Approach," Asian Economic and Financial Review, Asian Economic and Social Society, vol. 4(2), pages 257-277, February.
    16. Detthamrong, Umawadee & Chancharat, Nongnit & Vithessonthi, Chaiporn, 2017. "Corporate governance, capital structure and firm performance: Evidence from Thailand," Research in International Business and Finance, Elsevier, vol. 42(C), pages 689-709.
    17. Ofuan .J. Ilaboya & Monday .O. Izevbekhai & Friday .I. Ohiokha, 2016. "Tax Planning and Firm Value: A Review of Literature," Business and Management Research, Business and Management Research, Sciedu Press, vol. 5(2), pages 81-91, June.
    18. Aroh Nkechi Nympha. Ph.D & Egolum, Priscilla Uchenna. Ph.D & Chukwuani Victoria Nnenna. Ph.D, 2021. "Dividend Policy Determinants of Firm Value: Empirical Evidence from Listed Non-Financial Companies in Nigeria," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 5(7), pages 612-634, July.
    19. Bruce Burton & Abeyratna Gunasekarage & Jayanthi Kumarasiri, 2013. "The influence of blockownership level and identity on board composition: evidence from the New Zealand market," Applied Financial Economics, Taylor & Francis Journals, vol. 23(16), pages 1287-1299, August.
    20. Sana Noor & Abubakr Saeed & Muhammad Saad Baloch & Muhammad Awais, 2020. "CSR permanency, family ownership, and firm value: Evidence from emerging economies," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 27(5), pages 2135-2149, September.

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