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A Test of the Agency Theory of Managerial Ownership, Corporate Leverage, and Corporate Dividends
14 references·16 citing·23 second hop
A Test of the Agency Theory of Managerial Ownership, Corporate Leverage, and Corporate Dividends (1989)A Test of the Agency Theory of Managerial…An Empirical Test of the Impact of Managerial Self-Interest on Corporate Capital Structure (1988)An Empirical Test of the Impa…The Structure of Corporate Ownership: Causes and Consequences (1985)The Structure of Corporate Ow…Two Agency-Cost Explanations of Dividends (1984)Two Agency-Cost Explanations …The Capital Structure Puzzle (1984)The Capital Structure PuzzleOn the Existence of an Optimal Capital Structure: Theory and Evidence (1984)On the Existence of an Optima…GROWTH, BETA AND AGENCY COSTS AS DETERMINANTS OF DIVIDEND PAYOUT RATIOS (1982)GROWTH, BETA AND AGENCY COSTS…Optimal capital structure under corporate and personal taxation (1980)Optimal capital structure und…Agency Problems and the Theory of the Firm (1980)Agency Problems and the Theor…On financial contracting (1979)On financial contractingThe Determination of Financial Structure: The Incentive-Signalling Approach (1977)The Determination of Financia…Determinants of corporate borrowing (1977)Determinants of corporate bor…Theory of the firm: Managerial behavior, agency costs and ownership structure (1976)Theory of the firm: Manageria…Dividend Policy, Growth, and the Valuation of Shares (1961)Dividend Policy, Growth, and …The Cost of Capital, Corporation Finance and the Theory of Investment (1958)The Cost of Capital, Corporat…Determinants of corporate dividend policy in emerging markets: Evidence from MENA stock markets (2016)Determinants of corporate div…Effect of Managerial Ownership, Financial Leverage, Profitability, Firm Size, and Investment Opportunity on Dividend Policy and Firm Value (2013)Effect of Managerial Ownershi…Payout policy and cash-flow uncertainty (2009)Payout policy and cash-flow u…Trade-Off and Pecking Order Theories of Debt**We thank Long Chen, Sudipto Dasgupta, Espen Eckbo, Chris Hennessy, Jay Ritter, Michael Roberts, Tan Wang, and Jaime Zender for comments and helpful discussions. Murray Frank thanks Piper Jaffray for financial support. Vidhan Goyal thanks the Research Grants Council of the Hong Kong Special Administrative Region for financial support (Project No. 6489/06H). The literature on capital structure is vast, containing hundreds of papers, and so we cannot hope to cover it all. Inevitably, we have left out a great deal, much of it very important. As such, we apologize in advance for our inevitable oversights. Even more than usual, it must be stressed that this survey reflects only our views. (2008)Trade-Off and Pecking Order T…Why Do Firms Become Widely Held? An Analysis of the Dynamics of Corporate Ownership (2007)Why Do Firms Become Widely He…Trade-Off and Pecking Order Theories of Debt (2005)Trade-Off and Pecking Order T…Dividend Policy, Corporate Governance and the Managerial Entrenchment Hypothesis: An Empirical Analysis (2003)Dividend Policy, Corporate Go…On the relation between ownership structure and capital structure (2002)On the relation between owner…Capital structure and its determinants in the UK - a decompositional analysis (2002)Capital structure and its det…Do investment banks compete in IPOs?: the advent of the “7% plus contract” (2001)Do investment banks compete i…Ownership and board structures in publicly traded corporations (1999)Ownership and board structure…Managerial Ownership and Agency Conflicts: A Nonlinear Simultaneous Equation Analysis of Managerial Ownership, Risk Taking, Debt Policy, and Dividend Policy (1999)Managerial Ownership and Agen…How Corporate Managers View Dividend Policy (1999)How Corporate Managers View D…Founding Family Control and Capital Structure: The Risk of Loss of Control and the Aversion to Debt (1999)Founding Family Control and C…Ownership and Board Structures in Publicly Traded Corporations (1998)Ownership and Board Structure…Determinants of Corporate Dividend Policy: A Factorial Analysis (1993)Determinants of Corporate Div…The Modern Corporation and Private Property (1933)Agency Problems and Residual Claims (1983)A Survey of Corporate Governance (1997)Law and Finance (1998)Corporate Ownership Around the World (1999)The Determinants of Capital Structure Choice (1988)Market Timing and Capital Structure (2002)The cost of capital, corporation finance and the theory of investment (2008)DISTRIBUTION OF INCOMES OF CORPORATIONS AMONG DIVIDENDS, RETAINED EARNINGS AND TAXES (1956)The Behavior of Stock-Market Prices (1965)The Market for "Lemons": Quality Uncertainty and the Market Mechanism (1970)The Nature of the Firm (1937)Mergers and the Market for Corporate Control (1965)Separation of Ownership and Control (1983)Dynamic capabilities and strategic management (1997)Corporate financing and investment decisions when firms have information that investors do not have (1984)The Theory of Capital Structure (1991)What Do We Know about Capital Structure? Some Evidence from International Data (1995)The theory and practice of corporate finance: evidence from the field (2001)CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)The Pricing of Options and Corporate Liabilities (1973)Efficient Capital Markets: II (1991)Agency costs of free cash flow, corporate finance, and takeovers (1996)
this work references cited by second hop

References

  • 1976Theory of the firm: Managerial behavior, agency costs and ownership structure71,441 cited
  • 1958The Cost of Capital, Corporation Finance and the Theory of Investment14,494 cited
  • 1977Determinants of corporate borrowing13,160 cited
  • 1980Agency Problems and the Theory of the Firm10,540 cited
  • 1984The Capital Structure Puzzle7,520 cited
  • 1961Dividend Policy, Growth, and the Valuation of Shares6,554 cited
  • 1985The Structure of Corporate Ownership: Causes and Consequences6,243 cited
  • 1977The Determination of Financial Structure: The Incentive-Signalling Approach4,163 cited
  • 1984Two Agency-Cost Explanations of Dividends3,109 cited
  • 1980Optimal capital structure under corporate and personal taxation2,906 cited
  • 1979On financial contracting2,901 cited
  • 1984On the Existence of an Optimal Capital Structure: Theory and Evidence2,477 cited
  • 1982GROWTH, BETA AND AGENCY COSTS AS DETERMINANTS OF DIVIDEND PAYOUT RATIOS1,728 cited
  • 1988An Empirical Test of the Impact of Managerial Self-Interest on Corporate Capital Structure1,083 cited

Cited by

  • 2005Trade-Off and Pecking Order Theories of Debt

Only edges whose both ends are imported exist here. Widen the year window, or show the whole map. Back to the work

535 cited
  • 1999Ownership and board structures in publicly traded corporations529 cited
  • 2002Capital structure and its determinants in the UK - a decompositional analysis486 cited
  • 1999Founding Family Control and Capital Structure: The Risk of Loss of Control and the Aversion to Debt486 cited
  • 2008Trade-Off and Pecking Order Theories of Debt**We thank Long Chen, Sudipto Dasgupta, Espen Eckbo, Chris Hennessy, Jay Ritter, Michael Roberts, Tan Wang, and Jaime Zender for comments and helpful discussions. Murray Frank thanks Piper Jaffray for financial support. Vidhan Goyal thanks the Research Grants Council of the Hong Kong Special Administrative Region for financial support (Project No. 6489/06H). The literature on capital structure is vast, containing hundreds of papers, and so we cannot hope to cover it all. Inevitably, we have left out a great deal, much of it very important. As such, we apologize in advance for our inevitable oversights. Even more than usual, it must be stressed that this survey reflects only our views.451 cited
  • 2009Payout policy and cash-flow uncertainty439 cited
  • 2003Dividend Policy, Corporate Governance and the Managerial Entrenchment Hypothesis: An Empirical Analysis355 cited
  • 1999Managerial Ownership and Agency Conflicts: A Nonlinear Simultaneous Equation Analysis of Managerial Ownership, Risk Taking, Debt Policy, and Dividend Policy308 cited
  • 2002On the relation between ownership structure and capital structure306 cited
  • 2016Determinants of corporate dividend policy in emerging markets: Evidence from MENA stock markets247 cited
  • 1999How Corporate Managers View Dividend Policy241 cited
  • 1993Determinants of Corporate Dividend Policy: A Factorial Analysis228 cited
  • 2007Why Do Firms Become Widely Held? An Analysis of the Dynamics of Corporate Ownership214 cited
  • 1998Ownership and Board Structures in Publicly Traded Corporations213 cited
  • 2013Effect of Managerial Ownership, Financial Leverage, Profitability, Firm Size, and Investment Opportunity on Dividend Policy and Firm Value209 cited
  • 2001Do investment banks compete in IPOs?: the advent of the “7% plus contract”205 cited