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You searched for id:"oai:d-scholarship.pitt.edu:33116". One record found.

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University of Pittsburgh

1. Bui, Thuy. Corporate Blockholders and Leverage.

Degree: 2017, University of Pittsburgh

This paper investigates the relationship between corporate block ownership and firm leverage. Corporate blockholders – nonfinancial firms who hold more than five percent equity in another industrial corporation − can affect a firm’s policies through their business relationships, monitoring, or through expropriation. By examining the evolution of corporate block ownership after block formation, I find that corporate block ownership is negatively related to firm leverage in fixed-effects and dynamic GMM regressions. In addition, corporate blockholders often obtain board seats, indicating that corporate investors are actively involved in governance activities. Furthermore, the negative relationship between corporate blocks and leverage becomes stronger when corporate blockholders have more board representation on the target firm, when the firm has higher agency costs, and when there is no product market relationship between corporate blockholders and the firm. Overall, my findings suggest that corporate blockholders play an important monitoring role in firm policies and can substitute for other monitoring mechanisms including leverage and institutional investors.

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APA · Chicago · MLA · Vancouver · CSE | Export to Zotero / EndNote / Reference Manager

APA (6th Edition):

Bui, T. (2017). Corporate Blockholders and Leverage. (Thesis). University of Pittsburgh. Retrieved from http://d-scholarship.pitt.edu/33116/1/Corporate%20Blockholders%20and%20Leverage_ETD_Thuy%20Bui.pdf ; http://d-scholarship.pitt.edu/33116/

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Chicago Manual of Style (16th Edition):

Bui, Thuy. “Corporate Blockholders and Leverage.” 2017. Thesis, University of Pittsburgh. Accessed October 22, 2017. http://d-scholarship.pitt.edu/33116/1/Corporate%20Blockholders%20and%20Leverage_ETD_Thuy%20Bui.pdf ; http://d-scholarship.pitt.edu/33116/.

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

MLA Handbook (7th Edition):

Bui, Thuy. “Corporate Blockholders and Leverage.” 2017. Web. 22 Oct 2017.

Vancouver:

Bui T. Corporate Blockholders and Leverage. [Internet] [Thesis]. University of Pittsburgh; 2017. [cited 2017 Oct 22]. Available from: http://d-scholarship.pitt.edu/33116/1/Corporate%20Blockholders%20and%20Leverage_ETD_Thuy%20Bui.pdf ; http://d-scholarship.pitt.edu/33116/.

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Council of Science Editors:

Bui T. Corporate Blockholders and Leverage. [Thesis]. University of Pittsburgh; 2017. Available from: http://d-scholarship.pitt.edu/33116/1/Corporate%20Blockholders%20and%20Leverage_ETD_Thuy%20Bui.pdf ; http://d-scholarship.pitt.edu/33116/

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

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