Agency-linked risk management with ownership and board sub-committee governance: Evidence from an OECD economy

Artikel

From a risk management perspective, this study examines the role of ownership and board sub-committee governance on direct measures of agency costs in a small OECD economy - New Zealand. Using Logistic and OLS regression approaches, two proxies of direct agency costs are tested on a pooled sample of 466 firm-year observations ranging from 2012 to 2018. The study provides evidence that insider ownership concentration outperforms outsider ownership concentration in constraining agency costs. Moreover, audit committee independence can also effectively deter agency costs. These findings suggest that both insider ownership concentration and audit committee structure are important risk management mitigating factor for deterring agency costs in New Zealand companies.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Journal: Journal of Risk and Financial Management ; ISSN: 1911-8074 ; Volume: 14 ; Year: 2021 ; Issue: 10 ; Pages: 1-16 ; Basel: MDPI

Klassifikation und Themen

• Klassifikation: Wirtschaft
• Thema: board sub-committee structure ; direct measures of agency costs ; New Zealand ; ownership concentration ; risk management

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Al Farooque, Omar
• Ereignis: Veröffentlichung
• (wer): MDPI
• (wo): Basel
• (wann): 2021

Weitere Informationen

• DOI: doi:10.3390/jrfm14100472
• Handle: http://hdl.handle.net/10419/258576
• Letzte Aktualisierung: 10.03.2025, 11:42 MEZ