Part of the Contributions to Economics book series (CE)
KeywordsEndogenous Variable Institutional Investor Minority Shareholder Institutional Ownership Large Shareholder
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- 2.For a more detailed elaboration on both tests see Davidson/MacKinnon [1993, Chapter 7.9, pp. 237–240] and Nakamura/Nakamura . Generally both methods test the ols assumption of a zero correlation between explanatory variables and error terms.Google Scholar
- 3.See Browne/Cudeck [1993, p. 144] and Steiger .Google Scholar
- 4.See Arbuckle [1999, pp. 409–411] and Hair et al. [1998, pp. 650–657].Google Scholar
- 12.See Himmelberg et al. [1999, p. 364].Google Scholar
- 44.For a non-monotonous relation see for example Brailsford et al. , Chen et al. , Chen/Ho , Cho , Cleary , Cui/Mak , Gugler et al. [2003b], Hermalin/Weisbach , Hubbard/Palia , Kole , Mørck et al. , Mudambi/Nicosia , Short/Keasey , Short et al. [2002a, 1994], Stulz , and Welch .Google Scholar
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