Pyramidal structure, firm capital structure exploitation and ultimate owners' dominance

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Pyramidal structure, firm capital structure exploitation and ultimate owners' dominance

In this paper we investigate how pyramid structure, separating cash flow rights and control rights, allows ultimate owners to control the company's resources for the creation of private benefits and to avoid punishment for such conduct. Empirical tests are conducted using three-stage least sq...

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Bibliographic Details
Main Authors:	Amin Noordin, Bany Ariffin, Mat Nor, Fauzias, McGowan, Carl B.
Format:	Article
Language:	English
Published:	Elsevier 2010
Online Access:	http://psasir.upm.edu.my/id/eprint/16401/ http://psasir.upm.edu.my/id/eprint/16401/1/Pyramidal%20structure.pdf

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