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Evidence on managerial entrenchment effects on firm value

Author

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  • Bernard Ben Sita
  • Abdallah M. Dah
  • Waddah Hallak

Abstract

We investigate managerial entrenchment effects on firm value. Conditioning investment and Research and Development (R%D) spending on a managerial entrenchment indicator, we find that under managerial entrenchment investment and spending tend to be higher. Under some simplifying assumptions, we find that overinvestment is greater under capital investment than under R%D spending.

Suggested Citation

  • Bernard Ben Sita & Abdallah M. Dah & Waddah Hallak, 2013. "Evidence on managerial entrenchment effects on firm value," International Journal of Financial Services Management, Inderscience Enterprises Ltd, vol. 6(2), pages 93-104.
  • Handle: RePEc:ids:ijfsmg:v:6:y:2013:i:2:p:93-104
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    Cited by:

    1. Emmanuel Iatridis, George, 2018. "Accounting discretion and executive cash compensation: An empirical investigation of corporate governance, credit ratings and firm value," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 55(C), pages 29-49.

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