The effect of CEO ownership & CEO entrenchment on firm value. (c2011)
Includes bibliographical references (p. 29-31).
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| Format: | masterThesis |
| Published: |
2011
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| Online Access: | http://hdl.handle.net/10725/964 https://doi.org/10.26756/th.2011.17 http://libraries.lau.edu.lb/research/laur/terms-of-use/thesis.php |
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| _version_ | 1864513455665446912 |
|---|---|
| author | Hallak, Waddah |
| author_facet | Hallak, Waddah |
| author_role | author |
| dc.creator.none.fl_str_mv | Hallak, Waddah |
| dc.date.none.fl_str_mv | 2011-11-04T08:40:21Z 2011-11-04T08:40:21Z 2011 2011-11-04 2011-06-07 |
| dc.identifier.none.fl_str_mv | http://hdl.handle.net/10725/964 https://doi.org/10.26756/th.2011.17 http://libraries.lau.edu.lb/research/laur/terms-of-use/thesis.php |
| dc.language.none.fl_str_mv | en |
| dc.rights.*.fl_str_mv | info:eu-repo/semantics/openAccess |
| dc.subject.none.fl_str_mv | Chief executive officers Institutional investments Stock ownership -- Case studies |
| dc.title.none.fl_str_mv | The effect of CEO ownership & CEO entrenchment on firm value. (c2011) |
| dc.type.none.fl_str_mv | Thesis info:eu-repo/semantics/publishedVersion info:eu-repo/semantics/masterThesis |
| description | Includes bibliographical references (p. 29-31). |
| eu_rights_str_mv | openAccess |
| format | masterThesis |
| id | LAURepo_72fa5b32ab87780aebfa07336d7d7161 |
| language_invalid_str_mv | en |
| network_acronym_str | LAURepo |
| network_name_str | Lebanese American University repository |
| oai_identifier_str | oai:laur.lau.edu.lb:10725/964 |
| publishDate | 2011 |
| repository.mail.fl_str_mv | |
| repository.name.fl_str_mv | |
| repository_id_str | |
| spelling | The effect of CEO ownership & CEO entrenchment on firm value. (c2011)Hallak, WaddahChief executive officersInstitutional investmentsStock ownership -- Case studiesIncludes bibliographical references (p. 29-31).We investigate the relation between firm value, CEO equity ownership and managerial entrenchment. Our results concerning the coefficients and their respective signs are consistent with the existing literature. However, there is no evidence of a specific nonmonotonic relation between Tobin’s Q and percentage of CEO equity ownership. This paper also examines the marginal impact of investment spending on capital and research on firm value under different governance schemes. Though the sign and significance of management entrenchment has the predicted negative impact on firm value, the marginal impacts of capital expenditure, research and development spending on firm value increase for firms with highly entrenched managers (low shareholder rights), as compared to firms with low management entrenchment (high shareholder rights). That said, such an increase in marginal effect, of capital and research, most likely to be the result of under spending on such value enhancing activities. This result suggests that the selection of investment opportunities, firm’s cash holding, and efficiency of internal capital markets could be a major source of friction between management and shareholders.1 bound copy: vii, 38 leaves; 30 cm. available at RNL.2011-11-04T08:40:21Z2011-11-04T08:40:21Z20112011-11-042011-06-07Thesisinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesishttp://hdl.handle.net/10725/964https://doi.org/10.26756/th.2011.17http://libraries.lau.edu.lb/research/laur/terms-of-use/thesis.phpeninfo:eu-repo/semantics/openAccessoai:laur.lau.edu.lb:10725/9642021-01-21T10:28:53Z |
| spellingShingle | The effect of CEO ownership & CEO entrenchment on firm value. (c2011) Hallak, Waddah Chief executive officers Institutional investments Stock ownership -- Case studies |
| status_str | publishedVersion |
| title | The effect of CEO ownership & CEO entrenchment on firm value. (c2011) |
| title_full | The effect of CEO ownership & CEO entrenchment on firm value. (c2011) |
| title_fullStr | The effect of CEO ownership & CEO entrenchment on firm value. (c2011) |
| title_full_unstemmed | The effect of CEO ownership & CEO entrenchment on firm value. (c2011) |
| title_short | The effect of CEO ownership & CEO entrenchment on firm value. (c2011) |
| title_sort | The effect of CEO ownership & CEO entrenchment on firm value. (c2011) |
| topic | Chief executive officers Institutional investments Stock ownership -- Case studies |
| url | http://hdl.handle.net/10725/964 https://doi.org/10.26756/th.2011.17 http://libraries.lau.edu.lb/research/laur/terms-of-use/thesis.php |