This paper investigates whether management ownership structures and large non-management blockholders are related to firm value across a sample of 1433 firms from 18 emerging markets. When a management group’s control rights exceed its cash flow rights, I find that firm values are lower. I also

Abstract. The Firm-Value Risk Model combines the technology of actuarial optimal dividends models with insights regarding financial frictions from financial economics, especially as they apply to risk transfer in (re)insurance firms. This paper illustrates, by numerical solution of a set of case

of the Robert B. Goergen Chair at the Wharton School and the Wharton Global Family Alliance. Belén Villalonga gratefully acknowledges the financial support of the Division of Research at the Harvard Business School. How Do Family Ownership, Control, and Management Affect Firm Value? Using proxy data on all

This paper examines the effect of managerial qualifications on firm value. We study financial performance of Fortune 500 firms using annual data for 2006-2009 using univariate and multivariate methodologies. Our results indicate that companies whose managers that have MBA degrees or degrees from

We show that firm value depends on the interaction between the blocks of large shareholders. The paper analyses the trade-off facing controlling shareholders of whether to monitor or collude with the management in the expropriation of minority shareholders. Firm value is positively related

We study the effect of political connection (PC) on company value in an environment where low PC is due to better institutions and not confounded by favorable social/cultural factors. We find that in Singapore, the only country that fits this description, PC in general adds little to the value of a

participants in seminars at the Homer Hoyt Institute, the 1996 ASSA meetings, the University of Arizona and the University of Wisconsin-Madison for helpful comments. The usual disclaimer applies.

This paper studies the value of …rms and their hiring and …ring decisions in an environment where the productivity of the workers depends on how well they match with their co-workers and the …rm acts as a coordinating device. Match quality derives from a production technology whereby workers

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have examined the final electronic copy of this dissertation for form and content and recommend that it