Please use this identifier to cite or link to this item:
http://hdl.handle.net/10553/44205
Title: | Blindaje y capacidad informativa del resultado contable | Other Titles: | Anti-takeover provisions and informativeness of accouning earnings | Authors: | Bona Sánchez, Carolina Pérez Alemán, Jerónimo Santana Martín, Domingo Javier |
UNESCO Clasification: | 5303 Contabilidad económica 531102 Gestión financiera |
Keywords: | Blindaje Capacidad informativa Anti-takeover Provisions informativeness |
Issue Date: | 2008 | Publisher: | 1698-5117 | Journal: | Universia Business Review | Abstract: | El objetivo del trabajo es analizar la incidencia de las medidas defensivas (MD’s) en la calidad
de la información contable divulgada, en un contexto en el que el principal conflicto de
agencia deriva de la divergencia de intereses entre accionistas controladores y propietarios
minoritarios. Utilizando un índice de blindaje diseñado a partir de las disposiciones estatutarias
defensivas de las empresas cotizadas españolas, los resultados obtenidos evidencian
una incidencia negativa de las MD’s en la calidad de la información contable. The aim of this research is to examine the effect of anti-takeover provisions (ATP’s) on the quality of accounting earnings, in a country where, as in most countries in the world, the salient agency problem is expropriation of minority shareholders by controlling owners. Through the development of an anti-takeover index that measures the level of defence contained in Spanish listed firms’ by-laws, the results reveal a negative incidence of ATP’s on earnings quality. |
URI: | http://hdl.handle.net/10553/44205 | ISSN: | 1698-5117 | Source: | Universia Business Review [ISSN 1698-5117], v. 20, p. 12-27 |
Appears in Collections: | Reseña |
Items in accedaCRIS are protected by copyright, with all rights reserved, unless otherwise indicated.