Managerial entrenchment and corporate bond financing: evidence from Japan

被引：0
|
作者：
Tanaka, Takanori [1 ]
机构：
[1] Osaka Univ, Inst Social & Econ Res, Ibaraki, Japan
来源：
APPLIED ECONOMICS LETTERS | 2010年 / 17卷 / 16期
关键词：
GOVERNANCE; RATINGS; FIRMS;
D O I：
10.1080/13504850903051508
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This article investigates whether managerial entrenchment of controlling shareholders affects corporate bond financing. Using data on Japanese manufacturing firms, we find that firms with large corporate shareholders as controlling shareholders issue less straight corporate bonds than other firms. The results show that managerial entrenchment of controlling shareholders has an influential impact on corporate bond financing.
引用
收藏
页码：1571 / 1574
页数：4
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