...
  • 主题
高级搜索  >
历史搜索 清空历史
首页> 外文期刊>International journal of business governance and ethics >Corporate ownership and market valuation in South Africa: uncovering the effects of shareholdings by different groups of corporate insiders and outsiders
【24h】

Corporate ownership and market valuation in South Africa: uncovering the effects of shareholdings by different groups of corporate insiders and outsiders

机译：南非的公司所有权和市场估值：揭示不同组的公司内部人员和外部人员的股权影响

获取原文
获取原文并翻译 | 示例
           
页面导航
  • 摘要
  • 著录项
  • 相似文献
  • 相关主题

摘要

This paper examines the connection between shareholdings by different groups of corporate officers (insiders and outsiders) and market valuation in South Africa. Specifically, we examine the effect of shareholdings by employees, chief executive officers (CEO_s), chief financial officers (CFO_s), other executive directors, and non-executive (outside) directors on market valuation. We find that total ownership by all corporate officers (insiders and outsiders) is positively related to market valuation. However, when we examine the link between ownership by individual groups of corporate officers and market valuation, our results suggest that firms with higher ownership by CEO_s and other executive directors have lower market valuation, but we do not find any evidence that ownership by CFO_s has any significant effect on market valuation. In contrast, we find that ownership by employees and non-executive outside) directors is positively related to market valuation. Our findings are generally consistent with the predictions of agency theory.
机译：本文研究了不同类别的公司官员（内部人和外部人）的股权与南非市场估值之间的联系。具体而言，我们研究了员工，首席执行官（CEO），首席财务官（CFO_s），其他执行董事和非执行（外部）董事持股对市场估值的影响。我们发现，所有公司官员（内部人员和外部人员）的总体所有权与市场估值成正比。但是，当我们检查公司高管人员的所有权与市场价值之间的联系时，我们的结果表明，首席执行官和其他执行董事拥有较高所有权的公司的市场价值较低，但是我们没有发现任何证据表明首席财务官拥有所有权对市场估值的任何重大影响。相反，我们发现，员工和非执行外部董事的所有权与市场估值成正相关。我们的发现通常与代理理论的预测相符。

著录项

相似文献

  • 外文文献
  • 中文文献
  • 专利
获取原文

客服邮箱：kefu@zhangqiaokeyan.com

京公网安备：11010802029741号 ICP备案号：京ICP备15016152号-6 六维联合信息科技 (北京) 有限公司©版权所有

  • 客服微信

  • 服务号