https://scholars.lib.ntu.edu.tw/handle/123456789/608010
標題: | Overinvestment, ownership structure, and directors' and officers’ liability insurance | 作者: | Chiang Y.-M Chang P.-R. YAO-MIN CHIANG |
關鍵字: | Directors's and officers' liability insurance;Overinvestment;Ownership structure | 公開日期: | 2022 | 卷: | 78 | 起(迄)頁: | 38-50 | 來源出版物: | International Review of Economics and Finance | 摘要: | This study examines the moderator effect of directors' and officers’ liability insurance (D&O insurance) on the relationship between ownership structure and overinvestment. We find that firms with D&O insurance and higher insurance coverage have a higher probability of overinvestment. These results show the D&O insurance is like a moral hazard effect. We also find evidence that the relationship between ownership structure and overinvestment is affected by D&O insurance. As well as the results support that the firms purchasing D&O insurance is moderator effect on ownership structure and overinvestment. ? 2021 |
URI: | https://www.scopus.com/inward/record.uri?eid=2-s2.0-85119402460&doi=10.1016%2fj.iref.2021.11.002&partnerID=40&md5=2ca8656a0931bfeaddaf1445ae4755bd https://scholars.lib.ntu.edu.tw/handle/123456789/608010 |
ISSN: | 10590560 | DOI: | 10.1016/j.iref.2021.11.002 |
顯示於: | 財務金融學系 |
在 IR 系統中的文件,除了特別指名其著作權條款之外,均受到著作權保護,並且保留所有的權利。