On the relation between ownership structure and capital structure
Brailsford, Timothy J; Oliver, Barry; Pua, S
Description
The agency relationship between managers and shareholders has the potential to influence decision-making in the firm which in turn potentially impacts on firm characteristics such as value and leverage. Prior evidence has demonstrated an association between ownership structure and firm value. This paper extends the literature by examining a further link between ownership structure and capital structure. Using an agency framework, it is argued that the distribution of equity ownership among...[Show more]
Collections | ANU Research Publications |
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Date published: | 2002 |
Type: | Journal article |
URI: | http://hdl.handle.net/1885/88117 |
Source: | Accounting and Finance |
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