Global ETD Search
Search theses and dissertations gathered from participating repositories worldwide. Every result links back to the library that holds it. No account is needed.
Results
Showing 1 to 20 of 30 for “"agency conflicts"”.
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Venture Capital Financing with Staged Investment, Agency Conflicts and Asymmetric Beliefs
… staged investment, VC oversight costs and agency conflicts. The contract between the VC and the EN includes risk-free and pay-performance sensitive compensation. Moral hazard arises because the EN must exert effort for the project to succeed. Our model is novel in that it also allows for …
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Investment opportunities, agency conflicts, contracts, and the demand for audit quality.
… through the IOS's influence on the firm's agency costs. A firm's IOS is expected to influence a firm's agency costs through the IOS's influence on the nature of the firm's contracts, and through the IOS'S influence on the relationships between the firm's management and the firm's owners and …
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Agency conflicts in financial contracting with applications to venture capital and CDO markets
In these papers I examine efficient financial contracting when incentive problems play a significant role. In the first chapter (joint with Z. Fluck and S. Myers) we focus on the venture capital industry. We build a two-stage model capturing moral hazard, effort provision, and hold-up problems …
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Towards an improved understanding of how multi-national corporations manage agency conflicts : the case of ArvinMeritor, Inc.
Agency theory suggests that separating the ownership and control of a firm results in areas of conflict between the owners and controllers. This defines the firm as a nexus of contracts between various stakeholders with conflicting objectives. Management's task is to align the stakeholders and …
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Impacts of Executive Compensation on Employee Wages
… CEO compensation suggests that EBC can mitigate agency conflicts between managers and shareholders, we find that the high level of EBC can create another aspect of agency conflicts between managers and shareholders, contributing to income inequality even within corporations.
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Earnings management, agency costs and corporate governance : evidence from Egypt
… earnings management and determining the agency costs level. In addition, this study attempts to enhance the understanding of a number of issues relating to ownership structure and corporate governance in an emerging country setting. The international corporate collapse and accounting …
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Insider Share-Pledging and Firm Investors
… phenomena affects firm investors and analyze agency conflicts between pledging managers and (a) outside shareholders, and (b) bondholders. Pledging potentially influences investor risk through changing managerial incentives and/or contingency risk from ill-timed margin calls. Findings suggest …
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Two Essays on Multiple Directorships
… for firms with high growth opportunities and low agency conflicts. Such firms would benefit more from better advising while not suffering much from less monitoring. Likewise, firm performance is negatively associated with multiple directorships for firms with low growth opportunities and high …
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Are All Shares Equal? A Measure of Secondary Agency Conflict and an Examination of its Influence on Investor Reactions to Acquisition Announcements
… has been established as the source of primary agency conflict between managers and shareholders. The research presented in the chapters that follow explain how the <em>combination </em>of ownership and control also represent a significant problem for many dispersed shareholders. Prior research …
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Effect of executive compensation on firm performance
… to the equity-based CEO compensation in reducing agency conflicts between CEOs and shareholders.
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Are long-term earnings targets forecasts?
… concerns, and concentrated in cases where agency conflicts are low and traditional management forecasts are not available. To my knowledge, this analysis is the first to document a forecasting role for the long-term targets used in earnings-based compensation plans.
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Principal-principal conflicts in Asean 5 mergers and acquisitions
The thesis investigates principal-principal (PP) conflicts arising in mergers and acquisitions (M&A) in Asean 5 countries; Indonesia, Malaysia, the Philippines, Thailand and Singapore. This thesis is the first study adapting the well-established Lintner dividend model (Lintner, 1956) to examine the …
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Do Mandated Risk Disclosures Affect Corporate Risk-Taking?
… corporate risk-taking by mitigating risk-related agency conflicts and informing managers about their firms’ risks. Using the 2005 risk factor disclosure mandate as a setting, I predict and find that firms susceptible to shareholder-debtholder conflicts reduce their risk-taking after the mandate. I …
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CORPORATE OWNERSHIP AND CONTROL STRUCTURES AND FIRM PERFORMANCE: EVIDENCE FROM CONTROL POTENTIAL, AGENCY, AND CONTROL DOMINANCE-CONTESTABILITY PERSPECTIVES ON UK LISTED FIRMS
… PERFORMANCE: EVIDENCE FROM CONTROL POTENTIAL, AGENCY, AND CONTROL DOMINANCE-CONTESTABILITY PERSPECTIVES ON UK LISTED FIRMS BY: ABDELLA KORMIE DINGA MATERIAL ABSTRACT The research study comprises of two preceding Chapters, three main empirical Parts, and CONCLUSION. The first Chapter, …
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Contingency fees and incentives in commercial lines insurance
This dissertation addresses the potential agency conflicts arising between an insurance broker and its commercial clients. Though the broker is hired to find its client the best insurance quote on the market, the broker's contractual arrangements and private information may lead it to stray from …
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Essays in Leveraged Capital Markets
… market trading of loans to control potential agency conflicts with borrowers. Traditional monitoring is more important for bank lenders. The default rates of covenant-lite loans are lower than on fully covenanted loans, but recovery rates implied by higher yield spreads are substantially …
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The impact of institutional investors on dividend policy in South Africa
Agency theory suggests that with enhanced monitoring, companies are more likely to pay out their free cash flow. Institutional investors may be great monitors given that they are professional investors with specialized expertise in evaluating firm's financial performance, management quality and …
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The agency problem and New Zealand's listed property sector : A dissertation submitted in partial fulfilment of the requirements of the degree of Master of Property Studies at Lincoln University
… vehicles (LPVs) are characterised by significant agency conflicts. A review of the agency literature identified four generic agency problems (effort; horizon; differential risk preference & asset use) while the real estate literature revealed other agency issues specific to real estate assets and …
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The dividend policy in Europe : the cases of the UK, Germany, France and Italy
… policy: taxation, asymmetric information and agency costs. The uniqueness of the thesis is its European character. The main argument is that differences in taxation and corporate governance systems between European countries can prove a useful tool for providing some answers to the dividend …
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A study on capital structure and corporate governance
… study shows that due to the interaction through agency conflicts, key firm characteristics that represent agency costs affect leverage and managerial incentive compensation in opposite directions. After controlling for the opposite interactions, the two are shown to be positively related. Second, …
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