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Ownership Structure, Related Party Transactions, and Firm Valuation

- Evidence from Indian Business Groups
Af: Amrinder Khosa, Darren Henry, Kamran Ahmed Engelsk Hardback

Ownership Structure, Related Party Transactions, and Firm Valuation

- Evidence from Indian Business Groups
Af: Amrinder Khosa, Darren Henry, Kamran Ahmed Engelsk Hardback
Tjek vores konkurrenters priser
Concentrated ownership is considered to be the best protection for shareholders in economies where legal protection is relatively weak. This book investigates and concludes, for Indian business groups, that concentrated-inside ownership provides opportunities for the expropriation of minority shareholders. While more concentrated direct ownership of controlling families results in a higher market value of equity, indirect ownership obtained through cross-holding provides incentives to extract private benefits and results in value loss. This finding requires the prompt attention of regulatory bodies, outside investors and other interested parties. This book examines the effect of ownership structure and disclosure of related-party transactions on firm valuation of group-affiliated firms in India, by using a sample of 317 listed firms comprising 1350 firm-year observations from 2008 to 2017. Well-accepted value-relevance models are employed to examine the effect of ownership rights on market value of equity and valuation effect of RP trading, asset transfer, investment and loan transactions.
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Concentrated ownership is considered to be the best protection for shareholders in economies where legal protection is relatively weak. This book investigates and concludes, for Indian business groups, that concentrated-inside ownership provides opportunities for the expropriation of minority shareholders. While more concentrated direct ownership of controlling families results in a higher market value of equity, indirect ownership obtained through cross-holding provides incentives to extract private benefits and results in value loss. This finding requires the prompt attention of regulatory bodies, outside investors and other interested parties. This book examines the effect of ownership structure and disclosure of related-party transactions on firm valuation of group-affiliated firms in India, by using a sample of 317 listed firms comprising 1350 firm-year observations from 2008 to 2017. Well-accepted value-relevance models are employed to examine the effect of ownership rights on market value of equity and valuation effect of RP trading, asset transfer, investment and loan transactions.
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Se mere i:
Produktdetaljer
Sprog: Engelsk
Sider: 188
ISBN-13: 9781108492195
Indbinding: Hardback
Udgave:
ISBN-10: 1108492193
Kategori: Finans
Udg. Dato: 21 mar 2019
Længde: 16mm
Bredde: 156mm
Højde: 238mm
Forlag: Cambridge University Press
Oplagsdato: 21 mar 2019
Forfatter(e): Amrinder Khosa, Darren Henry, Kamran Ahmed
Forfatter(e) Amrinder Khosa, Darren Henry, Kamran Ahmed

Kategori Finans

ISBN-13 9781108492195

Sprog Engelsk

Indbinding Hardback

Sider 188

Udgave

Længde 16mm

Bredde 156mm

Højde 238mm

Udg. Dato 21 mar 2019

Oplagsdato 21 mar 2019

Forlag Cambridge University Press