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    政大機構典藏 > 商學院 > 財務管理學系 > 期刊論文 >  Item 140.119/117555
    Please use this identifier to cite or link to this item: http://nccur.lib.nccu.edu.tw/handle/140.119/117555


    Title: Corporate Diversification, Ownership Structure, and Firm Value: The Singapore Evidence
    Authors: 陳聖賢
    Chen, Sheng-Syan
    Ho, Kim Wai
    Contributors: 財管系
    Keywords: Corporate diversification;Ownership structure;Firm value
    Date: 2000
    Issue Date: 2018-06-11 17:31:03 (UTC+8)
    Abstract: We provide international evidence on the level and value of corporate diversification using a sample of 145 Singapore firms. We find that the level of diversification is positively related to firm size and negatively related to the equity ownership of outside blockholders. However, we find no evidence that insider ownership has a significant impact on the level of diversification. We find significant value loss from diversification only for those firms with low managerial ownership, suggesting that value-reducing diversification stems from agency problems. Outside block ownership does not have a significant impact on the value of diversification. Thus, while outside blockholders may act as a deterrent on the level of diversification, there is no evidence that they can effectively reduce the agency problems for those firms with low managerial ownership.
    Relation: International Review of Financial Analysis, Vol.9, No.3, pp.315-326
    Data Type: article
    DOI 連結: http://dx.doi.org/10.1016/S1057-5219(00)00032-6
    DOI: 10.1016/S1057-5219(00)00032-6
    Appears in Collections:[財務管理學系] 期刊論文

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