Managerial Finance: Volume 14 Issue 4

AGENCY THEORY:: Implications for Financial Management

Amir Jassim, Carolyn R. Dexter, Aman Sidhu

This paper reviews and analyzes the literature on agency theory in terms of the nature of the problem and its implications for management. Finance theory posits that the goal of…

AGENCY THEORY AND ORGANIZATIONAL ANALYSIS

Jean B. McGuire

Jean McGuire is Associate Professor of Management in the Faculty of Commerce at Concordia University, Montreal. She received her Pd.D. degree from Cornell University. Her research…

MANAGERIAL PERFORMANCE EVALUATION: A DECISION MODEL FOR STOCKHOLDERS

Belgacem Raggad

Managerial ability is influenced by many factors: personal attributes (like leadership, creativity, aggressiveness, communication skills, etc….), education, and experience. The…

EXECUTIVE COMPENSATION AND PERFORMANCE OF FIRMS.

Manmohan D. Chaubey, Mukund S. Kulkarni

Recently the topic of executive compensation has received considerable attention in the popular press as well as in the academia. It is argued that “… top executives would get…

AN EMPIRICAL INVESTIGATION OF MERGER PREMIUMS

I. Keong Chew, Keith H. Johnson, M. Andrew Fields

Regardless of their motives, acquiring firms almost always have to offer a premium to the shareholders of the acquired firm in acquisitions. That is, the value of the securities…

STATE TAKEOVER STATUTES AND CORPORATE BOARD COMPOSITION:: A test of the substitution hypothesis

Christopher K. Ma, David A. Lindsley, Ramesh P. Rao

Extant literature identifies board composition and the market for takeovers as two important measures for controlling the agency problem associated with top management. This study…