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http://hdl.handle.net/1903/11459
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| Title: | Financial Policy and Ownership Stability |
| Authors: | Kozora, Matthew Lee |
| Advisors: | Prabhala, Nagpurnanand
Wermers, Russell |
| Department/Program: | Business and Management: Finance |
| Type: | Dissertation |
| Sponsors: | Digital Repository at the University of Maryland
University of Maryland (College Park, Md.) |
| Keywords: | 0508
Economics, Finance
Financial Institutions, Financial Policy, Ownership Stability |
| Issue Date: | 2011 |
| Abstract: | I investigate the relationship between corporate financial policy and the ownership stability of a firm's institutional shareholders. In each chapter of my dissertation I empirically investigate this relationship in a different setting: the first chapter with respect to earnings management, the second chapter with respect to corporate spin-offs, and the third chapter with respect to payout policy. Unique to my research I utilize the complete ownership history of each institutional stock position to create measures of ownership stability including fund investment horizon and ownership length. Overall, I find significant relationships between each one of the three financial policies and measures of ownership stability. |
| URI: | http://hdl.handle.net/1903/11459 |
| Appears in Collections: | UMD Theses and Dissertations
Finance Theses and Dissertations
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