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OverviewConcentrated ownership is considered to be the best protection for shareholders in economies where legal protection is relatively weak. This book investigates and concludes, for Indian business groups, that concentrated-inside ownership provides opportunities for the expropriation of minority shareholders. While more concentrated direct ownership of controlling families results in a higher market value of equity, indirect ownership obtained through cross-holding provides incentives to extract private benefits and results in value loss. This finding requires the prompt attention of regulatory bodies, outside investors and other interested parties. This book examines the effect of ownership structure and disclosure of related-party transactions on firm valuation of group-affiliated firms in India, by using a sample of 317 listed firms comprising 1350 firm-year observations from 2008 to 2017. Well-accepted value-relevance models are employed to examine the effect of ownership rights on market value of equity and valuation effect of RP trading, asset transfer, investment and loan transactions. Full Product DetailsAuthor: Amrinder Khosa (Monash University, Victoria) , Kamran Ahmed (La Trobe University, Victoria) , Darren Henry (La Trobe University, Victoria)Publisher: Cambridge University Press Imprint: Cambridge University Press Dimensions: Width: 15.60cm , Height: 1.60cm , Length: 23.80cm Weight: 0.370kg ISBN: 9781108492195ISBN 10: 1108492193 Pages: 188 Publication Date: 21 March 2019 Audience: Professional and scholarly , Professional & Vocational Format: Hardback Publisher's Status: Active Availability: In stock  We have confirmation that this item is in stock with the supplier. It will be ordered in for you and dispatched immediately. Table of ContentsReviewsAuthor InformationAmrinder Khosa is Lecturer at the Business School, Monash University, Victoria. His research interests are accounting education, corporate governance in group-affiliated firms and related-party transactions. Kamran Ahmed is Professor of Accounting at the Business School at La Trobe, Victoria. His research interests are corporate disclosure, corporate accounting policy choice, earnings management, international accounting harmonization, accounting and reporting practices in South Asia, and microfinance reporting. Darren Henry is Associate Professor of Finance at the Business School at La Trobe University, Victoria, and Head of the Department of Economics and Finance. His research interests include all aspects of mergers and acquisitions, corporate governance and wider ownership and control issues, corporate restructuring and cross-listing activities, and empirical corporate finance issues such as capital structure decision-making, dividend policy and capital raising activities. Tab Content 6Author Website:Countries AvailableAll regions |
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