The DOI matches its Crossref record; 3 of the 3 references it cites were found in a registry or an index.
Ownership Structure, Corporate Governance, and Firm Value: Evidence from the East Asian Financial Crisis
Open accessAbstract
We use a sample of 800 firms in eight East Asian countries to study the effect of ownership structure on value during the region's financial crisis. The crisis negatively impacted firms' investment opportunities, raising the incentives of controlling shareholders to expropriate minority investors. Crisis period stock returns of firms in which managers have high levels of control rights, but have separated their control and cash flow ownership, are 10–20 percentage points lower than those of other firms. The evidence is consistent with the view that ownership structure plays an important role in determining whether insiders expropriate minority shareholders.
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Cites
La Porta, R., Lopez‐de‐Silanes, F., Shleifer, A., & Vishny, R. W. (1998) · Journal of Political Economy · doi:10.1086/250042 · Cited by 18,025
A Survey of Corporate Governance
Shleifer, A., & Vishny, R. W. (1997) · The Journal of Finance · doi:10.1111/j.1540-6261.1997.tb04820.x · Cited by 16,243
The separation of ownership and control in East Asian Corporations
Claessens, S., Djankov, S., & Lang, L. H. P. (2000) · Journal of Financial Economics · doi:10.1016/s0304-405x(00)00067-2 · Cited by 5,754
Cited by
Corporate immunity to the COVID-19 pandemic
Ding, W., Levine, R., Lin, C., & Xie, W. (2021) · Journal of Financial Economics · doi:10.1016/j.jfineco.2021.03.005 · Cited by 1,484
International Evidence on Cash Holdings and Expected Managerial Agency Problems
Kalcheva, I., & Lins, K. V. (2007) · Review of Financial Studies · doi:10.1093/rfs/hhm023 · Cited by 820
Self-citationOwnership structure and corporate social responsibility disclosure: Some Malaysian evidence
Mohd Ghazali, N. A. (2007) · Corporate Governance: The international journal of business in society · doi:10.1108/14720700710756535 · Cited by 608
Masulis, R. W., Pham, P. K., & Zein, J. (2011) · Review of Financial Studies · doi:10.1093/rfs/hhr052 · Cited by 523
Exit as Governance: An Empirical Analysis
BHARATH, S. T., JAYARAMAN, S., & NAGAR, V. (2013) · The Journal of Finance · doi:10.1111/jofi.12073 · Cited by 382
Metadata
- Authors
- Lemmon, M. L., & Lins, K. V.
- Venue
- The Journal of Finance
- Publisher
- Wiley
- Published
- 2003-07-15
- Volume
- 58
- Issue
- 4
- Pages
- 1445-1468
- ISSN
- 0022-1082 (ISSN-L)
- 1540-6261
- OpenAlex
- W3124859647
- Cited by
- 1,339
- References
- 3
- FWCI
- 166.61
- Type
- journal article
- Language
- en
- Open access
- bronze
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- Lemmon, M. L., & Lins, K. V. (2003). Ownership Structure, Corporate Governance, and Firm Value: Evidence from the East Asian Financial Crisis. The Journal of Finance. https://doi.org/10.1111/1540-6261.00573
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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
