Ownership Structure and Diversification Strategy: Institutions and Blockholders
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This paper tries to fill theoretical gap which has not fully explained the effect of outside large shareholders on corporate strategy and firm performance which result in the mixed empirical results, under the premise that investors are heterogeneous in their motivations and incentives to monitors incumbent managers. By considering motivations and incentives scheme by institutional investors and outside blockholders, the paper presents testable hypothesis regarding the relation between institutional investors, outside blockholders and diversification strategy, respectively.
Abstract
This paper tries to fill theoretical gap which has not fully explained the effect of outside large shareholders on corporate strategy and firm performance which result in the mixed empirical results, under the premise that investors are heterogeneous in their motivations and incentives to monitors incumbent managers. By considering motivations and incentives scheme by institutional investors and outside blockholders, the paper presents testable hypothesis regarding the relation between institutional investors, outside blockholders and diversification strategy, respectively.
참고문헌 (42)
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