Agency problems in public firms: evidence from corporate jets in leveraged buyouts
Author
Abstract
Suggested Citation
Download full text from publisher
References listed on IDEAS
- Yermack, David, 1997.
"Good Timing: CEO Stock Option Awards and Company News Announcements,"
Journal of Finance, American Finance Association, vol. 52(2), pages 449-476, June.
- David Yermack, 1996. "Good Timing: CEO Stock Option Awards and Company News Announcements," New York University, Leonard N. Stern School Finance Department Working Paper Seires 96-41, New York University, Leonard N. Stern School of Business-.
- Becker, Bo & Cronqvist, Henrik & Fahlenbrach, Rüdiger, 2011.
"Estimating the Effects of Large Shareholders Using a Geographic Instrument,"
Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 46(4), pages 907-942, August.
- Becker, Bo & Cronqvist, Henrik & Fahlenbrach, Rüdiger, 2008. "Estimating the Effects of Large Shareholders Using a Geographic Instrument," SIFR Research Report Series 64, Institute for Financial Research.
- Bo Becker & Henrik Cronqvist & Rüdiger Fahlenbrach, 2009. "Estimating the Effects of Large Shareholders Using a Geographic Instrument," Harvard Business School Working Papers 10-028, Harvard Business School, revised Feb 2010.
- Becker, Bo & Cronqvist, Henrik & Fahlenbrach, Rudiger, 2008. "Estimating the Effects of Large Shareholders Using a Geographic Instrument," Working Paper Series 2008-9, Ohio State University, Charles A. Dice Center for Research in Financial Economics.
- Bo Becker & Henrik Cronqvist & Rüdiger Fahlenbrach, 2011. "Estimating the Effects of Large Shareholders Using a Geographic Instrument," NBER Working Papers 17393, National Bureau of Economic Research, Inc.
- Villalonga, Belen & Amit, Raphael, 2006. "How do family ownership, control and management affect firm value?," Journal of Financial Economics, Elsevier, vol. 80(2), pages 385-417, May.
- Marianne Bertrand & Sendhil Mullainathan, 2003.
"Enjoying the Quiet Life? Corporate Governance and Managerial Preferences,"
Journal of Political Economy, University of Chicago Press, vol. 111(5), pages 1043-1075, October.
- Bertrand, Marianne & Mullainathan, Sendhil, 2003. "Enjoying the Quiet Life? Corporate Governance and Managerial Preferences," Scholarly Articles 3429713, Harvard University Department of Economics.
- Bo Becker, 2006. "Wealth and Executive Compensation," Journal of Finance, American Finance Association, vol. 61(1), pages 379-397, February.
- Richard Harris & Donald S. Siegel & Mike Wright, 2005. "Assessing the Impact of Management Buyouts on Economic Efficiency: Plant-Level Evidence from the United Kingdom," The Review of Economics and Statistics, MIT Press, vol. 87(1), pages 148-153, February.
- Rafael La Porta & Florencio Lopez‐De‐Silanes & Andrei Shleifer, 1999.
"Corporate Ownership Around the World,"
Journal of Finance, American Finance Association, vol. 54(2), pages 471-517, April.
- Rafael La Porta & Florencio Lopez-de-Silane & Andrei Shleifer, 1998. "Corporate Ownership Around the World," NBER Working Papers 6625, National Bureau of Economic Research, Inc.
- La Porta, Rafael & Lopez-De-Silanes, Florencio & Shleifer, Andrei, 1999. "Corporate Ownership Around the World," Scholarly Articles 30747162, Harvard University Department of Economics.
- Rafael La Porta & Florencio Lopez-de-Silanes & Andrei Shleifer, 1998. "Corporate Ownership Around the World," Harvard Institute of Economic Research Working Papers 1840, Harvard - Institute of Economic Research.
- Morck, Randall & Shleifer, Andrei & Vishny, Robert W., 1988. "Management ownership and market valuation : An empirical analysis," Journal of Financial Economics, Elsevier, vol. 20(1-2), pages 293-315, January.
- Morck, Randall & Shleifer, Andrei & Vishny, Robert W., 1988. "Management ownership and market valuation," Scholarly Articles 29407535, Harvard University Department of Economics.
- Alex Edmans & Xavier Gabaix, 2009. "Is CEO Pay Really Inefficient? A Survey of New Optimal Contracting Theories," European Financial Management, European Financial Management Association, vol. 15(3), pages 486-496, June.
- Gavazza, Alessandro, 2010. "Asset liquidity and financial contracts: Evidence from aircraft leases," Journal of Financial Economics, Elsevier, vol. 95(1), pages 62-84, January.
- Alex Edmans & Xavier Gabaix & Augustin Landier, 2009. "A Multiplicative Model of Optimal CEO Incentives in Market Equilibrium," The Review of Financial Studies, Society for Financial Studies, vol. 22(12), pages 4881-4917, December.
- Yermack, David, 2006. "Flights of fancy: Corporate jets, CEO perquisites, and inferior shareholder returns," Journal of Financial Economics, Elsevier, vol. 80(1), pages 211-242, April.
- Phillip Leslie & Paul Oyer, 2008. "Managerial Incentives and Value Creation: Evidence from Private Equity," NBER Working Papers 14331, National Bureau of Economic Research, Inc.
- Hong H. & Chernozhukov V., 2002. "Three-Step Censored Quantile Regression and Extramarital Affairs," Journal of the American Statistical Association, American Statistical Association, vol. 97, pages 872-882, September.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Oriana Bandiera & Renata Lemos & Andrea Prat & Raffaella Sadun, 2018.
"Managing the Family Firm: Evidence from CEOs at Work,"
The Review of Financial Studies, Society for Financial Studies, vol. 31(5), pages 1605-1653.
- Bandiera, Oriana & Lemos, Renata & Prat, Andrea & Sadun, Raffaella, 2013. "Managing the family firm: evidence from CEOs at work," LSE Research Online Documents on Economics 121789, London School of Economics and Political Science, LSE Library.
- Prat, Andrea & Bandiera, Oriana & Sadun, Raffaella & Lemos, Renata, 2015. "Managing the Family Firm: Evidence from CEOs at Work," CEPR Discussion Papers 10379, C.E.P.R. Discussion Papers.
- Bandiera, Oriana & Prat, Andrea & Lemos, Renata & Sadun, Raffaella, 2017. "Managing the family firm: evidence from CEOs at work," LSE Research Online Documents on Economics 83391, London School of Economics and Political Science, LSE Library.
- Oriana Bandiera & Andrea Prat & Raffaella Sadun, 2013. "Managing the Family Firm: Evidence from CEOs at Work," STICERD - Economic Organisation and Public Policy Discussion Papers Series 049, Suntory and Toyota International Centres for Economics and Related Disciplines, LSE.
- Oriana Bandiera & Renata Lemos & Andrea Prat & Raffaella Sadun, 2013. "Managing the Family Firm: Evidence from CEOs at Work," NBER Working Papers 19722, National Bureau of Economic Research, Inc.
- Bandiera, Oriana & Lemos, Renata & Prat, Andrea & Sadun, Raffaella, 2018. "Managing the family firm: evidence from CEOs at work," LSE Research Online Documents on Economics 84945, London School of Economics and Political Science, LSE Library.
- Bandiera, Oriana & Prat, Andrea & Sadun, Raffaella, 2013. "Managing the family firm: evidence from CEOs at work," LSE Research Online Documents on Economics 58162, London School of Economics and Political Science, LSE Library.
- Oriana Bandiera & Renata Lemos & Andrea Prat & Raffaella Sadun, 2013. "Managing the Family Firm: Evidence from CEOs at Work," CEP Discussion Papers dp1250, Centre for Economic Performance, LSE.
- Oriana Bandiera & Andrea Prat & Renata Lemos & Raffaella Sadun, 2013. "Managing the Family Firm: Evidence from CEOs at Work," Harvard Business School Working Papers 14-044, Harvard Business School, revised Jun 2017.
- Carola Frydman & Dirk Jenter, 2010.
"CEO Compensation,"
Annual Review of Financial Economics, Annual Reviews, vol. 2(1), pages 75-102, December.
- Frydman, Carola & Jenter, Dirk, 2010. "CEO Compensation," Research Papers 2069, Stanford University, Graduate School of Business.
- Carola Frydman & Dirk Jenter, 2010. "CEO Compensation," NBER Working Papers 16585, National Bureau of Economic Research, Inc.
- Carola Frydman & Dirk Jenter, 2010. "CEO Compensation," CESifo Working Paper Series 3277, CESifo.
- Hoje Jo & Maretno Harjoto, 2011. "Corporate Governance and Firm Value: The Impact of Corporate Social Responsibility," Journal of Business Ethics, Springer, vol. 103(3), pages 351-383, October.
- Yaowen Shan & Terry Walter, 2016. "Towards a Set of Design Principles for Executive Compensation Contracts," Abacus, Accounting Foundation, University of Sydney, vol. 52(4), pages 619-684, December.
- Alex Edmans & Xavier Gabaix, 2016.
"Executive Compensation: A Modern Primer,"
Journal of Economic Literature, American Economic Association, vol. 54(4), pages 1232-1287, December.
- Gabaix, Xavier & Edmans, Alex, 2015. "Executive Compensation: A Modern Primer," CEPR Discussion Papers 10566, C.E.P.R. Discussion Papers.
- Edmans, Alex & Gabaix, Xavier, 2016. "Executive Compensation: A Modern Primer," Scholarly Articles 34651704, Harvard University Department of Economics.
- Alex Edmans & Xavier Gabaix, 2015. "Executive Compensation: A Modern Primer," NBER Working Papers 21131, National Bureau of Economic Research, Inc.
- Lee Biggerstaff & David C. Cicero & Andy Puckett, 2017. "FORE! An Analysis of CEO Shirking," Management Science, INFORMS, vol. 63(7), pages 2302-2322, July.
- Renée Adams & Daniel Ferreira, 2008. "One Share-One Vote: The Empirical Evidence," Review of Finance, European Finance Association, vol. 12(1), pages 51-91.
- Edmans, Alex & Holderness, Clifford, 2016. "Blockholders: A Survey of Theory and Evidence," CEPR Discussion Papers 11442, C.E.P.R. Discussion Papers.
- Hegde, Shantaram & Seth, Rama & Vishwanatha, S.R., 2020. "Ownership concentration and stock returns: Evidence from family firms in India," Pacific-Basin Finance Journal, Elsevier, vol. 61(C).
- Fabrizio Rossi & Richard J. Cebula, 2015. "Ownership Structure and R&D: An Empirical Analysis of Italian listed companies," PSL Quarterly Review, Economia civile, vol. 68(275), pages 297-326.
- Chen, Anlin & Kao, Lanfeng & Lu, Cheng-Shou, 2014. "Controlling ownership and firm performance in Taiwan: The role of external competition and internal governance," Pacific-Basin Finance Journal, Elsevier, vol. 29(C), pages 219-238.
- Brandts, Jordi & Solà, Carles, 2010.
"Personal relations and their effect on behavior in an organizational setting: An experimental study,"
Journal of Economic Behavior & Organization, Elsevier, vol. 73(2), pages 246-253, February.
- Jordi Brandts & Carles Solà, 2006. "Personal Relations and their Effect on Behavior in an Organizational Setting: An Experimental Study," Working Papers 300, Barcelona School of Economics.
- Jordi Brandts & Carles Solà, 2006. "Personal Relations and their Effect on Behavior in an Organizational Setting: An Experimental Study," UFAE and IAE Working Papers 692.07, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
- Jordi Brandts & Carles Solà, 2009. "Personal Relations and their Effect on Behavior in an Organizational Setting: An Experimental Study," Post-Print hal-00735846, HAL.
- Kimberly Gleason & Anita Pennathur & Joan Wiggenhorn, 2014. "Acquisitions of family owned firms: boon or bust?," Journal of Economics and Finance, Springer;Academy of Economics and Finance, vol. 38(2), pages 269-286, April.
- Randall Morck, 2011.
"Finance and Governance in Developing Economies,"
Annual Review of Financial Economics, Annual Reviews, vol. 3(1), pages 375-406, December.
- Randall Morck, 2011. "Finance and Governance in Developing Economies," NBER Working Papers 16870, National Bureau of Economic Research, Inc.
- Al-Faryan, Mamdouh Abdulaziz Saleh & Dockery, Everton, 2017. "Ownership structure and corporate governance: What does the data reveal about Saudi listed firms?," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 14(4-2), pages 413-424.
- Zeineb Barka & Taher Hamza, 2020. "The effect of large controlling shareholders on equity prices in France: monitoring or entrenchment?," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 24(3), pages 769-798, September.
- Palmberg, Johanna, 2012. "Family Control and Executive Compensation," Ratio Working Papers 186, The Ratio Institute.
- Sitthipongpanich, Thitima & Polsiri, Piruna, 2015. "Do CEO and board characteristics matter? A study of Thai family firms," Journal of Family Business Strategy, Elsevier, vol. 6(2), pages 119-129.
- Michael Ryngaert & Shawn Thomas, 2012. "Not All Related Party Transactions (RPTs) Are the Same: Ex Ante Versus Ex Post RPTs," Journal of Accounting Research, Wiley Blackwell, vol. 50(3), pages 845-882, June.
- Ghosh, Aloke(Al) & Tang, Charles Y., 2015. "Assessing financial reporting quality of family firms: The auditors׳ perspective," Journal of Accounting and Economics, Elsevier, vol. 60(1), pages 95-116.
More about this item
Keywords
Corporations; Corporate governance; Executives; Leveraged buyouts;All these keywords.
NEP fields
This paper has been announced in the following NEP Reports:- NEP-BEC-2011-04-02 (Business Economics)
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:fip:fedgfe:2011-15. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Ryan Wolfslayer ; Keisha Fournillier (email available below). General contact details of provider: https://edirc.repec.org/data/frbgvus.html .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.