Research in Finance - Chen, A.H. (ed.)
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Presents evidence showing that ownership structure affects a firm's agency costs of cash flow, which, in turn, influences the market's reaction to changes in the firm's dividend policy. This volume examines the relationship between managerial entrenchment and the effectiveness of internal governance mechanisms and the firm performances.

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Presents evidence showing that ownership structure affects a firm's agency costs of cash flow, which, in turn, influences the market's reaction to changes in the firm's dividend policy. This volume examines the relationship between managerial entrenchment and the effectiveness of internal governance mechanisms and the firm performances.