Ownership structure, related-party transactions, and firm valuation: evidence from Indian business groups
Concentrated ownership is considered to be the best protection for shareholders in economies where legal protection is relatively weak. This book investigates and concludes, for Indian business groups, that concentrated-inside ownership provides opportunities for the expropriation of minority shareh...
Gespeichert in:
| Hauptverfasser: | , , |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
Cambridge
Cambridge University Press
2019
|
| Schlagworte: | |
| Zusammenfassung: | Concentrated ownership is considered to be the best protection for shareholders in economies where legal protection is relatively weak. This book investigates and concludes, for Indian business groups, that concentrated-inside ownership provides opportunities for the expropriation of minority shareholders. While more concentrated direct ownership of controlling families results in a higher market value of equity, indirect ownership obtained through cross-holding provides incentives to extract private benefits and results in value loss. This finding requires the prompt attention of regulatory bodies, outside investors and other interested parties. This book examines the effect of ownership structure and disclosure of related-party transactions on firm valuation of group-affiliated firms in India, by using a sample of 317 listed firms comprising 1350 firm-year observations from 2008 to 2017. Well-accepted value-relevance models are employed to examine the effect of ownership rights on market value of equity and valuation effect of RP trading, asset transfer, investment and loan transactions |
| Beschreibung: | 183 Seiten |
| ISBN: | 9781108492195 |
Internformat
MARC
| LEADER | 00000nam a2200000 c 4500 | ||
|---|---|---|---|
| 001 | BV045562730 | ||
| 003 | DE-604 | ||
| 005 | 20190509 | ||
| 007 | t | ||
| 008 | 190417s2019 |||| 00||| eng d | ||
| 020 | |a 9781108492195 |c hc |9 978-1-108-49219-5 | ||
| 035 | |a (OCoLC)1101134137 | ||
| 035 | |a (DE-599)BVBBV045562730 | ||
| 040 | |a DE-604 |b ger |e rda | ||
| 041 | 0 | |a eng | |
| 049 | |a DE-29 | ||
| 084 | |a QP 770 |0 (DE-625)141937: |2 rvk | ||
| 100 | 1 | |a Khosa, Amrinder |e Verfasser |4 aut | |
| 245 | 1 | 0 | |a Ownership structure, related-party transactions, and firm valuation |b evidence from Indian business groups |c Amrinder Khosa, Kamran Ahmed and Darren Henry |
| 264 | 1 | |a Cambridge |b Cambridge University Press |c 2019 | |
| 300 | |a 183 Seiten | ||
| 336 | |b txt |2 rdacontent | ||
| 337 | |b n |2 rdamedia | ||
| 338 | |b nc |2 rdacarrier | ||
| 520 | 3 | |a Concentrated ownership is considered to be the best protection for shareholders in economies where legal protection is relatively weak. This book investigates and concludes, for Indian business groups, that concentrated-inside ownership provides opportunities for the expropriation of minority shareholders. While more concentrated direct ownership of controlling families results in a higher market value of equity, indirect ownership obtained through cross-holding provides incentives to extract private benefits and results in value loss. This finding requires the prompt attention of regulatory bodies, outside investors and other interested parties. This book examines the effect of ownership structure and disclosure of related-party transactions on firm valuation of group-affiliated firms in India, by using a sample of 317 listed firms comprising 1350 firm-year observations from 2008 to 2017. Well-accepted value-relevance models are employed to examine the effect of ownership rights on market value of equity and valuation effect of RP trading, asset transfer, investment and loan transactions | |
| 653 | 0 | |a Institutional investments / India | |
| 653 | 0 | |a Minority stockholders / India | |
| 653 | 0 | |a Industrial management / India | |
| 653 | 0 | |a Business enterprises / India | |
| 700 | 1 | |a Ahmed, Kamran |e Verfasser |0 (DE-588)1138849480 |4 aut | |
| 700 | 1 | |a Henry, Darren |e Verfasser |4 aut | |
| 999 | |a oai:aleph.bib-bvb.de:BVB01-030946469 | ||
Datensatz im Suchindex
| _version_ | 1804179546751107072 |
|---|---|
| any_adam_object | |
| author | Khosa, Amrinder Ahmed, Kamran Henry, Darren |
| author_GND | (DE-588)1138849480 |
| author_facet | Khosa, Amrinder Ahmed, Kamran Henry, Darren |
| author_role | aut aut aut |
| author_sort | Khosa, Amrinder |
| author_variant | a k ak k a ka d h dh |
| building | Verbundindex |
| bvnumber | BV045562730 |
| classification_rvk | QP 770 |
| ctrlnum | (OCoLC)1101134137 (DE-599)BVBBV045562730 |
| discipline | Wirtschaftswissenschaften |
| format | Book |
| fullrecord | <?xml version="1.0" encoding="UTF-8"?><collection xmlns="http://www.loc.gov/MARC21/slim"><record><leader>02280nam a2200349 c 4500</leader><controlfield tag="001">BV045562730</controlfield><controlfield tag="003">DE-604</controlfield><controlfield tag="005">20190509 </controlfield><controlfield tag="007">t</controlfield><controlfield tag="008">190417s2019 |||| 00||| eng d</controlfield><datafield tag="020" ind1=" " ind2=" "><subfield code="a">9781108492195</subfield><subfield code="c">hc</subfield><subfield code="9">978-1-108-49219-5</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(OCoLC)1101134137</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(DE-599)BVBBV045562730</subfield></datafield><datafield tag="040" ind1=" " ind2=" "><subfield code="a">DE-604</subfield><subfield code="b">ger</subfield><subfield code="e">rda</subfield></datafield><datafield tag="041" ind1="0" ind2=" "><subfield code="a">eng</subfield></datafield><datafield tag="049" ind1=" " ind2=" "><subfield code="a">DE-29</subfield></datafield><datafield tag="084" ind1=" " ind2=" "><subfield code="a">QP 770</subfield><subfield code="0">(DE-625)141937:</subfield><subfield code="2">rvk</subfield></datafield><datafield tag="100" ind1="1" ind2=" "><subfield code="a">Khosa, Amrinder</subfield><subfield code="e">Verfasser</subfield><subfield code="4">aut</subfield></datafield><datafield tag="245" ind1="1" ind2="0"><subfield code="a">Ownership structure, related-party transactions, and firm valuation</subfield><subfield code="b">evidence from Indian business groups</subfield><subfield code="c">Amrinder Khosa, Kamran Ahmed and Darren Henry</subfield></datafield><datafield tag="264" ind1=" " ind2="1"><subfield code="a">Cambridge</subfield><subfield code="b">Cambridge University Press</subfield><subfield code="c">2019</subfield></datafield><datafield tag="300" ind1=" " ind2=" "><subfield code="a">183 Seiten</subfield></datafield><datafield tag="336" ind1=" " ind2=" "><subfield code="b">txt</subfield><subfield code="2">rdacontent</subfield></datafield><datafield tag="337" ind1=" " ind2=" "><subfield code="b">n</subfield><subfield code="2">rdamedia</subfield></datafield><datafield tag="338" ind1=" " ind2=" "><subfield code="b">nc</subfield><subfield code="2">rdacarrier</subfield></datafield><datafield tag="520" ind1="3" ind2=" "><subfield code="a">Concentrated ownership is considered to be the best protection for shareholders in economies where legal protection is relatively weak. This book investigates and concludes, for Indian business groups, that concentrated-inside ownership provides opportunities for the expropriation of minority shareholders. While more concentrated direct ownership of controlling families results in a higher market value of equity, indirect ownership obtained through cross-holding provides incentives to extract private benefits and results in value loss. This finding requires the prompt attention of regulatory bodies, outside investors and other interested parties. This book examines the effect of ownership structure and disclosure of related-party transactions on firm valuation of group-affiliated firms in India, by using a sample of 317 listed firms comprising 1350 firm-year observations from 2008 to 2017. Well-accepted value-relevance models are employed to examine the effect of ownership rights on market value of equity and valuation effect of RP trading, asset transfer, investment and loan transactions</subfield></datafield><datafield tag="653" ind1=" " ind2="0"><subfield code="a">Institutional investments / India</subfield></datafield><datafield tag="653" ind1=" " ind2="0"><subfield code="a">Minority stockholders / India</subfield></datafield><datafield tag="653" ind1=" " ind2="0"><subfield code="a">Industrial management / India</subfield></datafield><datafield tag="653" ind1=" " ind2="0"><subfield code="a">Business enterprises / India</subfield></datafield><datafield tag="700" ind1="1" ind2=" "><subfield code="a">Ahmed, Kamran</subfield><subfield code="e">Verfasser</subfield><subfield code="0">(DE-588)1138849480</subfield><subfield code="4">aut</subfield></datafield><datafield tag="700" ind1="1" ind2=" "><subfield code="a">Henry, Darren</subfield><subfield code="e">Verfasser</subfield><subfield code="4">aut</subfield></datafield><datafield tag="999" ind1=" " ind2=" "><subfield code="a">oai:aleph.bib-bvb.de:BVB01-030946469</subfield></datafield></record></collection> |
| id | DE-604.BV045562730 |
| illustrated | Not Illustrated |
| indexdate | 2024-07-10T08:21:35Z |
| institution | BVB |
| isbn | 9781108492195 |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-030946469 |
| oclc_num | 1101134137 |
| open_access_boolean | |
| owner | DE-29 |
| owner_facet | DE-29 |
| physical | 183 Seiten |
| publishDate | 2019 |
| publishDateSearch | 2019 |
| publishDateSort | 2019 |
| publisher | Cambridge University Press |
| record_format | marc |
| spelling | Khosa, Amrinder Verfasser aut Ownership structure, related-party transactions, and firm valuation evidence from Indian business groups Amrinder Khosa, Kamran Ahmed and Darren Henry Cambridge Cambridge University Press 2019 183 Seiten txt rdacontent n rdamedia nc rdacarrier Concentrated ownership is considered to be the best protection for shareholders in economies where legal protection is relatively weak. This book investigates and concludes, for Indian business groups, that concentrated-inside ownership provides opportunities for the expropriation of minority shareholders. While more concentrated direct ownership of controlling families results in a higher market value of equity, indirect ownership obtained through cross-holding provides incentives to extract private benefits and results in value loss. This finding requires the prompt attention of regulatory bodies, outside investors and other interested parties. This book examines the effect of ownership structure and disclosure of related-party transactions on firm valuation of group-affiliated firms in India, by using a sample of 317 listed firms comprising 1350 firm-year observations from 2008 to 2017. Well-accepted value-relevance models are employed to examine the effect of ownership rights on market value of equity and valuation effect of RP trading, asset transfer, investment and loan transactions Institutional investments / India Minority stockholders / India Industrial management / India Business enterprises / India Ahmed, Kamran Verfasser (DE-588)1138849480 aut Henry, Darren Verfasser aut |
| spellingShingle | Khosa, Amrinder Ahmed, Kamran Henry, Darren Ownership structure, related-party transactions, and firm valuation evidence from Indian business groups |
| title | Ownership structure, related-party transactions, and firm valuation evidence from Indian business groups |
| title_auth | Ownership structure, related-party transactions, and firm valuation evidence from Indian business groups |
| title_exact_search | Ownership structure, related-party transactions, and firm valuation evidence from Indian business groups |
| title_full | Ownership structure, related-party transactions, and firm valuation evidence from Indian business groups Amrinder Khosa, Kamran Ahmed and Darren Henry |
| title_fullStr | Ownership structure, related-party transactions, and firm valuation evidence from Indian business groups Amrinder Khosa, Kamran Ahmed and Darren Henry |
| title_full_unstemmed | Ownership structure, related-party transactions, and firm valuation evidence from Indian business groups Amrinder Khosa, Kamran Ahmed and Darren Henry |
| title_short | Ownership structure, related-party transactions, and firm valuation |
| title_sort | ownership structure related party transactions and firm valuation evidence from indian business groups |
| title_sub | evidence from Indian business groups |
| work_keys_str_mv | AT khosaamrinder ownershipstructurerelatedpartytransactionsandfirmvaluationevidencefromindianbusinessgroups AT ahmedkamran ownershipstructurerelatedpartytransactionsandfirmvaluationevidencefromindianbusinessgroups AT henrydarren ownershipstructurerelatedpartytransactionsandfirmvaluationevidencefromindianbusinessgroups |