Delivery included to the United States

Ownership Structure, Related Party Transactions, and Firm Valuation

Ownership Structure, Related Party Transactions, and Firm Valuation Evidence from Indian Business Groups

Hardback (21 Mar 2019)

Save $18.01

  • RRP $117.98
  • $99.97
Add to basket

Includes delivery to the United States

1 copy available online - Usually dispatched within 72 hours

Publisher's Synopsis

Concentrated 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.

About the Publisher

Cambridge University Press

Cambridge University Press dates from 1534 and is part of the University of Cambridge. We further the University's mission by disseminating knowledge in the pursuit of education, learning and research at the highest international levels of excellence.

Book information

ISBN: 9781108492195
Publisher: Cambridge University Press
Imprint: Cambridge University Press
Pub date:
DEWEY: 332.672530954
DEWEY edition: 23
Language: English
Number of pages: 183
Weight: 370g
Height: 238mm
Width: 156mm
Spine width: 16mm