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AuthorZeitun, Rami
AuthorGoaied, Mohamed
AuthorAl Refai, Hisham
Available date2023-01-17T06:57:07Z
Publication Date2022
Publication NameFinance Research Letters
ResourceScopus
URIhttp://dx.doi.org/10.1016/j.frl.2022.103290
URIhttp://hdl.handle.net/10576/38488
AbstractThis study evaluates the effect of minority management (MG) on capital structure for a sample of listed Japanese companies over three sectors. We used a dynamic panel, threshold-based model that can control for endogeneity to investigate the linkage between the speed of adjustment of leverage and MG, with the results proving that there is significant linkage between MG and leverage. We also observed that the level of MG has a threshold effect on leverage, such that firms with a high level of MG can reach their optimal leverage faster than those with a low level of MG. 2022
SponsorWe would like to thank the Editor-in-Chief Prof. Jonathan Batten and the anonymous reviewers for their helpful comments and suggestions. Other errors are our own.
Languageen
PublisherElsevier
SubjectAgency problem
Dynamic panel threshold
Leverage
Minority management
Monitoring power
TitleDoes minority management affect a firm's capital structure? Evidence from Japan
TypeArticle
Volume Number50


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