Is ownership really endogenous?

被引：42

作者：

Gugler, K

Weigand, J

机构：

[1] Univ Vienna, Dept Econ, A-1210 Vienna, Austria

[2] WHU, Grad Sch Management Koblenz, D-56179 Vallendar, Germany

来源：

APPLIED ECONOMICS LETTERS | 2003年 / 10卷 / 08期

关键词：

D O I：

10.1080/1350485032000095357

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

For a large panel of US firms it is found that managerial ownership is (econometrically) endogenous as Himmelberg et al. (Journal of Financial Economics, 53, 353-84, 1999) found. The largest shareholder, however, affects performance exogenously. This also holds for German firms.

引用

收藏

页码：483 / 486

页数：4

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