کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
961485 | 929858 | 2010 | 26 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
Institutional ownership stability and the cost of debt
دانلود مقاله + سفارش ترجمه
دانلود مقاله ISI انگلیسی
رایگان برای ایرانیان
کلمات کلیدی
موضوعات مرتبط
علوم انسانی و اجتماعی
اقتصاد، اقتصادسنجی و امور مالی
اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
![عکس صفحه اول مقاله: Institutional ownership stability and the cost of debt Institutional ownership stability and the cost of debt](/preview/png/961485.png)
چکیده انگلیسی
This study documents that the stability of institutional ownership plays an important role in determining the cost of debt. After controlling for other determinants of the cost of debt, and correcting for the endogeneity of institutional ownership stability, three major results are uncovered. First, there is a robust negative relationship between the cost of debt and institutional ownership stability. Second, institutional ownership stability plays a bigger role in determining the cost of debt, than the institutional ownership level commonly used in the literature. Third, institutional ownership stability affects the cost of debt to a greater extent for firms that are subject to more severe information asymmetry and greater agency costs of debt.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Financial Markets - Volume 13, Issue 4, November 2010, Pages 475-500
Journal: Journal of Financial Markets - Volume 13, Issue 4, November 2010, Pages 475-500
نویسندگان
Elyas Elyasiani, Jingyi (Jane) Jia, Connie X. Mao,