English  |  正體中文  |  简体中文  |  Items with full text/Total items : 55597/89938 (62%)
Visitors : 11048329      Online Users : 59
RC Version 7.0 © Powered By DSPACE, MIT. Enhanced by NTU Library & TKU Library IR team.
Scope Tips:
  • please add "double quotation mark" for query phrases to get precise results
  • please goto advance search for comprehansive author search
  • Adv. Search
    HomeLoginUploadHelpAboutAdminister Goto mobile version
    Please use this identifier to cite or link to this item: http://tkuir.lib.tku.edu.tw:8080/dspace/handle/987654321/61081


    Title: Managerial Ownership and Firm performance: An Analysis Using Switching Simultaneous-Equations Models
    Authors: Chen, Ming-yuan
    Contributors: 淡江大學產業經濟學系
    Date: 2006-02
    Issue Date: 2011-10-15 11:27:45 (UTC+8)
    Publisher: Routledge
    Abstract: This paper uses a switching simultaneous-equations model to examine the relation between managerial ownership and firm performance. The model includes a multinomial logit for the firm's choice among three regimes of large-block ownership, which can be argued as the choice among different degrees of controlling-minority structures, and three simultaneous-equations systems of managerial ownership and performance for each ownership regime. The paper argues that the choice of ownership regimes is the firm's endogenous decision as a reflection of the firm-specific organizational and transactional attributes, and hence the impact of managerial ownership on performance varies across firms belonging to different regimes. Empirical results show that family involvement in the management and significant related-party transactions are important factors to determine the firm's choice of ownership regimes. Evidence also indicates that the patterns of the relation between managerial ownership and firm performance, in the sense that the inflection points for the impact of managerial ownership turning from positive to negative, are markedly different across ownership regimes. Interpretations consistent with the endogeneity of managerial ownership are provided.
    Relation: Applied Economics 38(2), pp.161-181
    DOI: 10.1080/00036840500368136
    Appears in Collections:[Graduate Institute & Department of Industrial Economics] Journal Article

    Files in This Item:

    File Description SizeFormat
    0003-6846_38(2)_p161-181.pdf196KbAdobe PDF168View/Open
    index.html0KbHTML20View/Open
    Managerial Ownership and Firm performance An Analysis Using Switching Simultaneous-Equations Models.pdf264KbAdobe PDF0View/Open

    All items in 機構典藏 are protected by copyright, with all rights reserved.


    DSpace Software Copyright © 2002-2004  MIT &  Hewlett-Packard  /   Enhanced by   NTU Library & TKU Library IR teams. Copyright ©   - Feedback