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Article review Ownership structure , cash flow and capital investment Evidence from East Asian economies before financial crisis

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hocine boughezala hamad.
hocine boughezala hamad.
1 of 17
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Outline ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Introduction ,[object Object],[object Object],[object Object]
Objectives of research ,[object Object],[object Object],[object Object]
Hypothesis development overinvestment hypothesis resulting from the agency costs of free cash flow The underinvestment hypothesis resulting from asymmetric information problems in the capital markets 1 2
Overinvestment hypothesis resulting from the agency costs of free cash flow ,[object Object]
The underinvestment hypothesis resulting from asymmetric information problems in capital markets ,[object Object]
Empirical specification ,[object Object],[object Object]
Conts’ ,[object Object],[object Object],[object Object],[object Object],[object Object]
Conts' ,[object Object],[object Object],[object Object],[object Object],[object Object]
Conts’ ,[object Object],[object Object],[object Object],[object Object]
Agency problem Agency problem in the US Agency problem in East Asian The conflicts of interest Between Managers and Shareholders The conflicts of interest Between Large Shareholders and Minority Shareholders
Conclusion and further research ,[object Object],[object Object],[object Object],[object Object]
Conts’ ,[object Object],[object Object],[object Object]
References ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
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Article review Ownership structure , cash flow and capital investment Evidence from East Asian economies before financial crisis

  • 1.
  • 2.
  • 3.
  • 4.
  • 5. Hypothesis development overinvestment hypothesis resulting from the agency costs of free cash flow The underinvestment hypothesis resulting from asymmetric information problems in the capital markets 1 2
  • 6.
  • 7.
  • 8.
  • 9.
  • 10.
  • 11.
  • 12. Agency problem Agency problem in the US Agency problem in East Asian The conflicts of interest Between Managers and Shareholders The conflicts of interest Between Large Shareholders and Minority Shareholders
  • 13.
  • 14.
  • 15.
  • 16.
  • 17.

Editor's Notes

  1. WELCOME INDEX CARDS: WHAT WOULD MAKE THIS SESSION SUCCESSFUL FOR YOU? WHAT WOULD YOU LIKE TO CONTRIBUTE? [Bring business cards and contact information/brochure of NCAC/NAAC Conference]