CEO ownership and firm value
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John M. Griffith
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Article
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1999
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John Wiley and Sons
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English
β 74 KB
This paper examines the hypothesis that the amount of CEO ownership has a dominating effect on the value of the firm. Using a diverse sample of firms, firm value as measured by Tobin's q is found to be a nonmonotonic function of CEO ownership. Specifically, Tobin's q rises when the CEO owns between