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
相关论文
共 50 条
  • [21] Managerial liability and corporate innovation: Evidence from a legal shock
    Guan, Yuyan
    Zhang, Liandong
    Zheng, Liu
    Zou, Hong
    JOURNAL OF CORPORATE FINANCE, 2021, 69
  • [22] Cross-shareholding network and corporate bond financing cost in China
    Guo, Hongling
    Sun, Yue
    Qiu, Xuemei
    NORTH AMERICAN JOURNAL OF ECONOMICS AND FINANCE, 2021, 57
  • [23] Corporate social network, ownership structure, and corporate financing constraints: Evidence from China
    Zhao, Tianjiao
    Xiao, Ming
    Zhang, Bingshi
    INTERNATIONAL REVIEW OF ECONOMICS & FINANCE, 2023, 88 : 1547 - 1564
  • [24] Corporate mission, corporate policies and business outcomes: evidence from Japan
    Hirota, Shinichi
    Kubo, Katsuyuki
    Miyajima, Hideaki
    Hong, Paul
    Park, Young Won
    MANAGEMENT DECISION, 2010, 48 (7-8) : 1134 - 1153
  • [25] Dynamics of managerial power and CEO compensation in the course of corporate distress: Evidence from 1992 to 2019
    Guo, Sheng
    Kang, Qiang
    Mitnik, Oscar A.
    FINANCIAL MANAGEMENT, 2022, 51 (03) : 797 - 825
  • [26] Reputational Penalties in Japan: Evidence from Corporate Scandals
    Tanimura, Joseph K.
    Okamoto, M. Gary
    ASIAN ECONOMIC JOURNAL, 2013, 27 (01) : 39 - 57
  • [27] Corporate social responsibility and debt financing cost: evidence from China
    Guo, Mingyuan
    Zheng, Chendi
    Li, Junyao
    ENVIRONMENT DEVELOPMENT AND SUSTAINABILITY, 2024, 26 (07) : 17475 - 17503
  • [28] Managerial foreign experience and corporate risk-taking: Evidence from China
    Sun, Zixiong
    Anderson, Hamish
    Chi, Jing
    INTERNATIONAL REVIEW OF FINANCIAL ANALYSIS, 2023, 86
  • [29] Does managerial ability affect corporate financial constraints? Evidence from China
    Huang, Qiubin
    Xiong, Mengyuan
    Xiao, Ming
    ECONOMIC RESEARCH-EKONOMSKA ISTRAZIVANJA, 2022, 35 (01): : 3731 - 3753
  • [30] Do social ties matter for corporate bond yield spreads? Evidence from China
    Qiu, Xuemei
    Su, Zhong-qin
    Xiao, Zuoping
    CORPORATE GOVERNANCE-AN INTERNATIONAL REVIEW, 2019, 27 (06) : 427 - 457
12345