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dc.contributor.authorHettler, Barry
dc.contributor.authorForst, Arno
dc.date.accessioned2021-09-07T17:31:30Z
dc.date.available2021-09-07T17:31:30Z
dc.date.issued6/22/2017
dc.identifier.citationHettler, B., & Forst, A. (2017). Disproportionate insider control and firm performance. Accounting & Finance .
dc.identifier.doihttps://doi.org/10.1111/acfi.12279
dc.identifier.urihttp://hdl.handle.net/20.500.12648/2120
dc.description"This is the peer-reviewed version of the following article: Hettler, B., & Forst, A. (2017). Disproportionate insider control and firm performance. Accounting & Finance . which has been published in final form at https://doi.org/10.1111/acfi.12279 . This article may be used for non-commercial purposes in accordance with Wiley Terms and Conditions for Use of Self-Archived Versions." --- We thank participants at the American Accounting Association (AAA) 2016 Annual as well as the AAA 2016 Ohio region meeting for their helpful comments.
dc.description.abstractThe effect of disproportionate insider control on firm performance is ambiguous. Disproportionate control may enhance insiders’ ability to expropriate perquisites; on the other hand, it may provide stability of management and reduce short?term market pressures. Using a hand?collected sample of U.S. dual?class firms, we find that disproportionate control is positively associated with accounting?based performance, but negatively associated with Tobin's Q. These results are consistent with the incentives of entrenched insiders who are interested in profitability but less beholden to capital markets.
dc.subjectInsider Entrenchment
dc.subjectCorporate Governance
dc.subjectInsider Ownership
dc.subjectDual-Class Firms
dc.titleDisproportionate Insider Control and Firm Performance
dc.typearticle
dc.source.journaltitleAccounting & Finance
refterms.dateFOA2021-09-07T17:31:30Z
dc.description.institutionSUNY Brockport
dc.source.peerreviewedTRUE
dc.source.statuspublished
dc.description.publicationtitleBusiness-Economics Faculty Publications
dc.contributor.organizationThe College at Brockport
dc.contributor.organizationThe University of Texas
dc.languate.isoen_US


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