CEO ownership and firm value
✍
John M. Griffith
📂
Article
📅
1999
🏛
John Wiley and Sons
🌐
English
⚖ 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