Evidence on managerial entrenchment effects on firm value
We investigate managerial entrenchment effects on firm value. Conditioning investment and Research and Development (R&D) spending on a managerial entrenchment indicator, we find that under managerial entrenchment investment and spending tend to be higher. Under some simplifying assumptions, we f...
محفوظ في:
| المؤلف الرئيسي: | |
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| مؤلفون آخرون: | , |
| التنسيق: | article |
| منشور في: |
2016
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| الوصول للمادة أونلاين: | http://hdl.handle.net/10725/3839 http://dx.doi.org/10.1504/IJFSM.2013.056313 http://libraries.lau.edu.lb/research/laur/terms-of-use/articles.php http://www.inderscienceonline.com/doi/pdf/10.1504/IJFSM.2013.056313 |
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| الملخص: | We investigate managerial entrenchment effects on firm value. Conditioning investment and Research and Development (R&D) spending on a managerial entrenchment indicator, we find that under managerial entrenchment investment and spending tend to be higher. Under some simplifying assumptions, we find that overinvestment is greater under capital investment than under R&D spending. |
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