Corporate Law and Corporate Governance
Management Ownership and Market Valuation: An Empirical Analysis
Randall Morck, Andrei Shleifer, and Robert W. Vishny
- Year
- 1988
- Venue
- Journal of Financial Economics
- Level
- Advanced
Summary
Examines the relationship between management ownership and Tobin's Q in large U.S. firms. The reported nonmonotonic association is important for corporate-governance research because it distinguishes incentive alignment from the possibility that higher control can entrench managers.
Citation
Randall Morck, Andrei Shleifer, and Robert W. Vishny. "Management Ownership and Market Valuation: An Empirical Analysis." Journal of Financial Economics, 1988.
DOI: 10.1016/0304-405X(88)90048-7
BibTeX
@article{Morck1988Management,
title = {Management Ownership and Market Valuation: An Empirical Analysis},
author = {Randall Morck, Andrei Shleifer, and Robert W. Vishny},
year = {1988},
journal = {Journal of Financial Economics},
doi = {10.1016/0304-405X(88)90048-7},
url = {https://doi.org/10.1016/0304-405X(88)90048-7}
}