✦ LIBER ✦

Agency theory and the influence of equity ownership structure on corporate diversification strategies

✍ Scribed by David J. Denis; Diane K. Denis; Atulya Sarin

Publisher: John Wiley and Sons
Year: 1999
Tongue: English
Weight: 39 KB
Volume: 20
Category: Article
ISSN: 0143-2095
DOI: 10.1002/(sici)1097-0266(199911)20:11<1071::aid-smj70>3.0.co;2-g

No coin nor oath required. For personal study only.

✦ Synopsis

We articulate the agency theory view of managerial decision making and its implications for corporate diversification strategies. From agency theory, we generate testable predictions for the relation between equity ownership structure and diversification strategies and review the existing evidence on this relation. On balance, the evidence strongly supports the view that ownership structure influences corporate strategy.

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