Institutional ownership and simultaneity of strategic financial decisions: an empirical analysis in the case of Pakistan stock exchange

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dc.contributor.authorSadaf, Rabeea
dc.contributor.authorOláh, Judit
dc.contributor.authorPopp, József
dc.contributor.authorMáté, Domicián
dc.date.accessioned2019-03-25T09:50:30Z
dc.date.available2019-03-25T09:50:30Z
dc.date.issued2019
dc.description.abstract-translatedThe traditional interpretation of corporate finance is characterized by ownership. Although, their rights are widely distributed among individual stockholders, but can be managed by few managers. Hence, conflict of interest is arisen among managers and shareholders and this results in an agency problem (Fama, 1980; Fama & Jensen, 1983). A number of empirical studies also confirmed the ownership concentration of firms, especially those dominated by few large owners or block-holders (La Porta et al., 1999). The concentrated structure of ownership also contributes towards agency conflict between block-holders and minority shareholders. From another perspective, the block-holders can benefit minority shareholders by their role in monitoring managers and also can be hazardous if they strive to achieve their own private goals (Shleifer & Vishny, 1997).en
dc.format17 s.cs
dc.format.mimetypeapplication/pdf
dc.identifier.citationE+M. Ekonomie a Management = Economics and Management. 2019, roč. 22, č. 1, s. 172-188.cs
dc.identifier.doihttps://dx.doi.org/10.15240/tul/001/2019-1-012
dc.identifier.issn2336-5604 (Online)
dc.identifier.issn1212-3609 (Print)
dc.identifier.urihttp://hdl.handle.net/11025/33684
dc.language.isoenen
dc.publisherTechnická univerzita v Libercics
dc.relation.ispartofseriesE+M. Ekonomie a Management = Economics and Managementcs
dc.rightsCC BY-NC 4.0en
dc.rights.accessopenAccessen
dc.subjectstrategická rozhodnutícs
dc.subjectendogenitacs
dc.subjectinstitucionální vlastnictvícs
dc.subject3SLScs
dc.subject.translatedstrategic decisionsen
dc.subject.translatedendogeneityen
dc.subject.translatedinstitutional ownershipen
dc.subject.translated3SLSen
dc.titleInstitutional ownership and simultaneity of strategic financial decisions: an empirical analysis in the case of Pakistan stock exchangeen
dc.typečlánekcs
dc.typearticleen
dc.type.statusPeer-revieweden
dc.type.versionpublishedVersionen

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