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oai:gredos.usal.es:10366/1497712022-05-19T00:04:20Zcom_10366_4201com_10366_4200com_10366_3946com_10366_3823col_10366_4202

Miguel Hidalgo, Alberto de Pindado García, Julio De la Torre, Chabela 2022-05-18T07:46:14Z 2022-05-18T07:46:14Z 2004 de Miguel, A., Pindado, J., & de la Torre, C. (2004). Ownership structure and firm value: new evidence from Spain. Strategic Management Journal, 25(12), pp. 1199-1207. doi.org/10.1002/smj.430 0143-2095 http://hdl.handle.net/10366/149771 10.1002/smj.430 1097-0266 [EN] This paper provides new evidence on the way in which ownership influencesfirm value. Unlikeprevious studies, the empirical evidence obtained from our ownership concentration modelsupports not only the monitoring but also the expropriation effects. Additionally, the insiderownership model provides results that confirm the convergence-of-interest and the entrenchmenteffects, even though Spanish insiders get entrenched at higher ownership levels than their U.S.and U.K. counterparts. eng Wiley Online Library Attribution-NonCommercial-NoDerivatives 4.0 Internacional http://creativecommons.org/licenses/by-nc-nd/4.0/ info:eu-repo/semantics/openAccess Corporate governance Insider ownership Ownership concentration Firm value 5311 Organización y Dirección de Empresas 5310.05 Política Económica Internacional Ownership structure and firm value: new evidence from Spain info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion https://doi.org/10.1002/smj.430 Strategic Management Journal 25 12 1199 1207