Please use this identifier to cite or link to this item: https://hdl.handle.net/10356/79527
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dc.contributor.authorDimmock, Stephen G.en
dc.contributor.authorGerken, William C.en
dc.contributor.authorMarietta-Westberg, Jenniferen
dc.date.accessioned2015-02-12T06:58:06Zen
dc.date.accessioned2019-12-06T13:27:29Z-
dc.date.available2015-02-12T06:58:06Zen
dc.date.available2019-12-06T13:27:29Z-
dc.date.copyright2015en
dc.date.issued2015en
dc.identifier.citationDimmock, S. G., Gerken, W. C., & Marietta-Westberg, J. (2015). What determines the allocation of managerial ownership within firms? Evidence from investment management firms. Journal of corporate finance, 30, 44-64. doi:10.1016/j.jcorpfin.2014.11.004en
dc.identifier.issn0929-1199en
dc.identifier.urihttps://hdl.handle.net/10356/79527-
dc.description.abstractWe show that the allocation of managerial ownership to individuals within firms varies depending upon the joint distribution of decision control and decision management rights. Using a unique dataset of institutional investment management firms, we show that ownership is higher for managers: with both executive and operational responsibilities; when benefits of cooperation are higher; and with large contributions to firm value. Consistent with career concerns, we find increases in a manager's ownership are associated with increases in unsystematic risk. Ownership dispersion within the firm is associated with the allocation of monitoring and operational roles and the potential benefits of cooperation.en
dc.format.extent21 p.en
dc.language.isoenen
dc.relation.ispartofseriesJournal of corporate financeen
dc.rights© 2014 Elsevier B.V. This is the author created version of a work that has been peer reviewed and accepted for publication by Journal of Corporate Finance, Elsevier B.V. It incorporates referee’s comments but changes resulting from the publishing process, such as copyediting, structural formatting, may not be reflected in this document. The published version is available at: [Article DOI: http://dx.doi.org/10.1016/j.jcorpfin.2014.11.004].en
dc.subjectDRNTU::Business::Finance::Corporate financeen
dc.subjectManager Ownershipen
dc.subjectManagerial Ownershipen
dc.titleWhat determines the allocation of managerial ownership within firms? Evidence from investment management firmsen
dc.typeJournal Articleen
dc.contributor.schoolCollege of Business (Nanyang Business School)en
dc.identifier.doi10.1016/j.jcorpfin.2014.11.004en
dc.description.versionAccepted versionen
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