The Influence of Blockholders on Agency Costs and Firm Value: An Empirical Examination of Blockholder Characteristics and Interrelationships for Germa

ISBN-13: 9783658114015 / Angielski / Miękka / 2015 / 462 str.

Markus P. Urban

Opis

Markus P. Urban investigates the influence of large shareholders (the so-called blockholders) on agency costs and firm value, thereby accounting for blockholder characteristics and blockholder interrelationships. The work provides a profound theoretical and empirical analysis on the nature and effect of shareholder engagement with due regard to the specifics of the German institutional environment. Its empirical results illustrate that the effect of shareholder engagement depends on the characteristics of the specific blockholder as well as on interrelationships with additional blockholders.

Spis treści

Agency Theory.- Institutional Environment in Germany.- Monitoring by a Blockholder.- Determinants and Empirical Analysis of Blockholder Monitoring.

O autorze

Dr. Markus P. Urban completed his doctoral studies under the guidance of Prof. Dr. Annette G. Köhler at the Chair of Accounting and Auditing at the Mercator School of Management, University of Duisburg-Essen.

Blurb

Markus P. Urban investigates the influence of large shareholders (the so-called blockholders) on agency costs and firm value, thereby accounting for blockholder characteristics and blockholder interrelationships. The work provides a profound theoretical and empirical analysis on the nature and effect of shareholder engagement with due regard to the specifics of the German institutional environment. Its empirical results illustrate that the effect of shareholder engagement depends on the characteristics of the specific blockholder as well as on interrelationships with additional blockholders.

Contents

·      Agency Theory

·      Institutional Environment in Germany

·      Monitoring by a Blockholder

·      Determinants and Empirical Analysis of Blockholder Monitoring

Target Groups

·       Researchers and students in the fields of corporate governance and finance

·      Policymakers, executives of listed firms and investors

The Author

Dr. Markus P. Urban completed his doctoral studies under the guidance of Prof. Dr. Annette G. Köhler at the Chair of Accounting and Auditing at the Mercator School of Management, University of Duisburg-Essen.