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The Influence of Blockholders on Agency Costs and Firm Value

An Empirical Examination of Blockholder Characteristics and Interrelationships for German Listed Firms

  • Markus P. Urban

Part of the Auditing and Accounting Studies book series (AAS)

Table of contents

  1. Front Matter
    Pages I-XXXVI
  2. Markus P. Urban
    Pages 1-10
  3. Markus P. Urban
    Pages 100-126
  4. Markus P. Urban
    Pages 127-178
  5. Markus P. Urban
    Pages 245-360
  6. Markus P. Urban
    Pages 361-372
  7. Back Matter
    Pages 373-462

About this book

Introduction

Markus P. Urban investigates the influence of large shareholders (the so-called blockholders) on agency costs and firm value, thereby accounting for blockholder characteristics and blockholder interrelationships. The work provides a profound theoretical and empirical analysis on the nature and effect of shareholder engagement with due regard to the specifics of the German institutional environment. Its empirical results illustrate that the effect of shareholder engagement depends on the characteristics of the specific blockholder as well as on interrelationships with additional blockholders.

Contents

·      Agency Theory

·      Institutional Environment in Germany

·      Monitoring by a Blockholder

·      Determinants and Empirical Analysis of Blockholder Monitoring


Target Groups

·       Researchers and students in the fields of corporate governance and finance

·      Policymakers, executives of listed firms and investors


The Author

Dr. Markus P. Urban completed his doctoral studies under the guidance of Prof. Dr. Annette G. Köhler at the Chair of Accounting and Auditing at the Mercator School of Management, University of Duisburg-Essen.

Keywords

Agency Theory Institutional Environment Blockholder Monitoring Large Shareholders Firm Value

Authors and affiliations

  • Markus P. Urban
    • 1
  1. 1.Mercator School of ManagementUniversität Duisburg-EssenDuisburgGermany

Bibliographic information

  • DOI https://doi.org/10.1007/978-3-658-11402-2
  • Copyright Information Springer Fachmedien Wiesbaden 2015
  • Publisher Name Springer Gabler, Wiesbaden
  • eBook Packages Business and Economics
  • Print ISBN 978-3-658-11401-5
  • Online ISBN 978-3-658-11402-2
  • Buy this book on publisher's site
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