Managerial ownership and firm performance in Thailand: An empirical analysis
| dc.contributor.author | Wanachan Singhchawla | |
| dc.contributor.author | Robert T. Evans | |
| dc.contributor.author | John Evans | |
| dc.date.accessioned | 2025-03-10T07:37:41Z | |
| dc.date.available | 2025-03-10T07:37:41Z | |
| dc.date.issued | 2010 | |
| dc.description.abstract | This study investigates whether managerial share ownership serves to enhance or detract from firm performance in listed companies in Thailand. The convergence-of-interest hypothesis asserts that firm value increases as management ownership rises. On the other hand, when managers own a substantial fraction of the firm shares, then voting power or other influence may satisfy other non-value- maximizing objectives without endangering other positions. This gives rise to the entrenchment hypothesis, which suggests that excessive insider ownership has a negative impact on corporate performance. The results of this study support both the alignment and entrenchment efforts and therefore the existence of a non-linear relationship between firm performance and managerial ownership. Firm size and industry are also shown to impact significantly on firm performance in Thailand. | |
| dc.identifier.citation | Corporate Ownership and Control | |
| dc.identifier.doi | 10.22495/cocv8i1c3p4 | |
| dc.identifier.issn | 17279232 | |
| dc.identifier.scopus | 2-s2.0-84897145569 | |
| dc.identifier.uri | https://repository.dusit.ac.th//handle/123456789/5039 | |
| dc.language | English | |
| dc.publisher | Virtus Interpress | |
| dc.rights | All Open Access; Green Open Access; Hybrid Gold Open Access | |
| dc.rights.holder | Scopus | |
| dc.subject | Agency | |
| dc.subject | Convergence | |
| dc.subject | Entrenchment | |
| dc.subject | Insider | |
| dc.subject | Ownership | |
| dc.subject | Performance | |
| dc.title | Managerial ownership and firm performance in Thailand: An empirical analysis | |
| dc.type | Article | |
| mods.location.url | https://www.scopus.com/inward/record.uri?eid=2-s2.0-84897145569&doi=10.22495%2fcocv8i1c3p4&partnerID=40&md5=1beaebb72138253fc67745b457b8f26b | |
| oaire.citation.endPage | 378 | |
| oaire.citation.issue | 1 D | |
| oaire.citation.startPage | 369 | |
| oaire.citation.volume | 8 |