Pesquisa de referências

Managerial discretion and corporate governance in publicly traded firms : evidence from the property-liability insurance industry

Managerial discretion and corporate governance in publicly traded firms : evidence from the property-liability insurance industry
Recurso electrónico / electronic resource
Registro MARC
Tag12Valor
LDR  00000cab a2200000 4500
001  MAP20110056469
003  MAP
005  20110929130900.0
008  110926e20110901esp|||p |0|||b|spa d
040  ‎$a‎MAP‎$b‎spa‎$d‎MAP
084  ‎$a‎20
100  ‎$0‎MAPA20110025632‎$a‎Miller, Steve M.
24500‎$a‎Managerial discretion and corporate governance in publicly traded firms‎$b‎: evidence from the property-liability insurance industry ‎$c‎Steve M. Miller
520  ‎$a‎We study the incremental impact of corporate governance in mitigating managerial discretion, controlling for incentive alignment of managerial ownership. We extend the managerial discretion hypothesis to predict that for firms with the same set of governance tools, those that utilize governance tools more stringently to control agency costs will command greater contracting cost advantages, leading them to specialize in business with greater managerial discretion. Using 72 publicly traded insurers from 1994 to 2006, we find evidence supporting our hypothesis. Our findings complement the finance literature that focuses on the role of financing policies in mitigating agency costs of managerial discretion.
650 1‎$0‎MAPA20080586294‎$a‎Mercado de seguros
650 1‎$0‎MAPA20080590567‎$a‎Empresas de seguros
650 1‎$0‎MAPA20080624934‎$a‎Seguro de daños patrimoniales
650 1‎$0‎MAPA20080596880‎$a‎Gobierno corporativo
650 1‎$0‎MAPA20080599225‎$a‎Sociedades cotizadas
650 1‎$0‎MAPA20080586317‎$a‎Mercado de valores
650 1‎$0‎MAPA20080554774‎$a‎Incentivos
650 1‎$0‎MAPA20080605742‎$a‎Directivos de empresas
7730 ‎$w‎MAP20077000727‎$t‎The Journal of risk and insurance‎$d‎Nueva York : The American Risk and Insurance Association, 1964-‎$x‎0022-4367‎$g‎01/09/2011 Tomo 78 Número 3 - 2011 , p. 731-760
856  ‎$q‎application/pdf‎$w‎1066805‎$y‎Recurso electrónico / electronic resource